Dangote’s Refinery to Finally Start Operating By October 2024

Dangote refinery project is scheduled to finally start operating by October 2024, after several missed deadlines.

The 665,000 barrel daily refinery will start refining diesel and aviation fuel in October, followed by refining of petrol by November 30 2023.

Executive Director of Dangote Group, Devakumar Edwin announced the dates during an interview with S and P Global Commodity insight on Monday.

He said the they will begin to receive its first cargo of crude oil in next two weeks to refine up to 370,000 barrels daily for the production of diesel and aviation fuel from October.

Edwin explains that the refinery would buy Nigerian crude in dollars, instead of the naira because of its location within the Lekki Free Trade Zone.

He, however, said because of Nigeria’s 20 percent stake in the refinery project, some of the crude supplied from Nigeria National Petroleum Company limited would be paid for in the naira.

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He explained that the company’s refined products are not only targeting the Nigerian market.

“Basically if you look at our production profile, 50 per cent of my production will meet 100 per cent of the requirements of the country. Excess gasoline which will be 10 ppm sulfur Euro 5 quality will be exported to other African markets as well as the US and South America, although the volumes will be relatively small,” he said.

Meanwhile, he said jet fuel will be exported to Europe and diesel will be sold in sub-Saharan Africa.

He said refined products can be evacuated from the refinery by road or by sea, with the two routes able to handle 80 per cent and 75 per cent of production respectively.

“The company is also widening the road connecting the refinery to the expressway. That job is 70 per cent complete,” he added.