We’re not importing finished product, says Dangote

Dangote Petroleum Refinery and Petrochemicals has dismissed reports that the $20 billion plant imports only finished products into the country. Speaking on Wednesday, David Bird, MD/Chief Executive Officer (CEO) of the Dangote Refinery, said the refinery only imports by-products like cracked gasoline which are further refined locally into finished products. According to him, imported byproducts […]

Dangote Petroleum Refinery and Petrochemicals has dismissed reports that the $20 billion plant imports only finished products into the country.

Speaking on Wednesday, David Bird, MD/Chief Executive Officer (CEO) of the Dangote Refinery, said the refinery only imports by-products like cracked gasoline which are further refined locally into finished products.

According to him, imported byproducts include cracked gasoline, light cycle oil, high-sulphur reformate and other intermediate materials which are globally traded commodities.

These, he said, are processed through Dangote’s hydrocrackers, residue fluid catalytic cracking units and alkylation units to produce finished products.

“I can guarantee you, we are not importing finished products. I am a refinery.

“I have no interest in importing finished products, but I will be importing intermediate feedstocks and components,” Bird said.

The CEO said Dangote Refinery does not sit on the end of a pipeline just processing the country’s crude oil.

“So what you might see in, say, Saudi Arabia or Kuwait or UAE where the refinery sits on the end of a pipeline and it just processes that crude. Dangote is not like that. Dangote is a merchant refinery.”

Bird assured Nigerians of sustained product availability, noting that the refinery has contributed significantly to easing fuel scarcity, stabilising the naira, and reducing pressure on foreign exchange.