Aliko Dangote, the chairman of Dangote Groups has blamed the persistent shortages and long queues at filling stations across Nigeria on the failure of marketers to lift the products from his refinery.
Speaking in an interview with correspondents at the Presidential Villa, Abuja, on Tuesday, Dangote emphasized the refinery’s capacity to meet the nation’s fuel demands and urged fuel retailers to take decisive action to alleviate the situation.
Asked why the queues persist despite his refinery in production, Dangote stated: “With enough supply of crude oil, we can produce much more than 30 million liters every day. At full capacity, we can supply whatever is being consumed.”
He revealed that production ramp-up could begin as soon as next week, indicating a robust readiness to tackle the supply issue head-on.
Currently, Dangote noted that the refinery holds a substantial reserve of 500 million liters.
“This amount can sustain the country for over 12 days, even if there are no imports or additional production,” he explained. “So we are very ready. We are more than ready.”
Despite these figures, Dangote acknowledged the discrepancy between refinery output and the experiences of consumers on the ground.
“You must understand that we are producers; I’m not in the business of retail,” he clarified.
“If I were in retail, then you could hold me responsible for the queues. What I’m saying is that the retailers need to come forward and pick up the fuel.”
He stressed that the responsibility lies with the Nigerian National Petroleum Corporation (NNPC) and fuel marketers to engage with the refinery. “If they don’t come and collect, what do you want me to do?” he asked, expressing his frustration.
“I cannot continue to hold onto this fuel without charging interest. Every day the fuel sits in our tanks costs us money.”
He elaborated on the financial implications, saying, “If I were to lend this money at a 32% interest rate, that’s the kind of loss I’m facing. We don’t print money; we need to be able to move our products.”
When pressed on the lack of action from retailers, Dangote remarked, “If they have been importing fuel successfully, I see no reason why they can’t come and collect from us. We have what it takes for them to distribute effectively.”
He pointed out that the refinery has the infrastructure for loading but lacks the logistics to transport the fuel directly to retailers.
“If retailers come to us, we can ensure that there are no more queues at the filling stations,” he asserted, reinforcing the urgency for action in a sector facing significant challenges.
