Is this the Answer to Persistent Fuel Shortages in Africa’s Biggest Oil Producer?

Nigeria commissioned the Dangote Refinery amid hopes of transforming the country into a net exporter of petroleum products, but analysts said securing crude supplies could delay achieving full production this year. Nigeria spent $23.3bn last year on petroleum product imports and consumes around 33 million litres of petrol daily. The Dangote Refinery has a capacity of 650,000 barrels per day. The plant plans to export the surplus petrol, turning Africa’s biggest oil producer into an export hub for petroleum products. It also plans to export diesel, according to Aliko Dangote, Africa’s richest man, who funded the refinery’s construction. The massive petrochemical complex, said to be the world’s largest single-train refinery, cost $19bn to build after being delayed for almost a decade – above initial estimates of between $12bn and $14bn – and has outstanding debt of around $2.75bn, according to Nigeria’s central bank governor.

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