President of the Dangote Group, Aliko Dangote has emphasized that the persistent fuel queues in Nigeria will vanish once marketers begin sourcing their supplies from his refinery.
Speaking on October 29th, 2024, Dangote highlighted that his refinery currently holds 500 million liters of fuel, which is sufficient to meet the country's needs for over 12 days without any additional production or imports.
He urged the Nigeria National Petroleum Company Limited (NNPCL) and other marketers to cease importing fuel and instead collect the available stock locally.
Dangote stated, "If marketers have been managing 55 million liters daily through imports, I see no reason they shouldn't come and collect our supply and distribute it locally."
He further noted that maintaining such a large inventory incurs massive costs, and by utilizing local supplies, the nation could stabilize distribution and eliminate fuel queues. This initiative aligns with President Bola Tinubu's directive to sell crude to local refiners in Naira, aiming to bolster Nigeria’s industrialization efforts.
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