The Chairman of Dangote Refinery, Aliko Dangote, has explained that the company will begin importing crude oil from African countries by October 2024 due to a lack of availability in Nigeria.
He stated that his company would source crude oil from other African oil-producing nations, following recent imports from the United States and Brazil.
Dangote disclosed this during a tour of his Lagos-based refinery on Saturday, in a statement to newsmen.
According to the business mogul, the refinery expects to acquire feedstock from the US and Brazil in the coming months.
He mentioned that conversations are ongoing to secure more crude from African countries like Angola, Senegal, and Libya, all of which are oil-producing nations.
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“We will start importing crude oil from African countries. When we get to those countries, we’ll start negotiating with them. We’ll start bringing in from there,” he said.
“We have just bought from the US and Brazil. So, I think by next month, we’ll expand the scope to most African countries.
“If we have availability in Nigeria, we won’t have to turn to these other countries,” Dangote added.
When asked about the timeline for sourcing crude from these African countries, Dangote stated that it could begin as soon as next month.
“Very soon. I think by next month. You know crude, you have to book two months in advance. So, I’ll say October we’ll be bringing in from these African countries.
VIDEO: Why I’m importing crude oil from African countries October — Dangotehttps://t.co/4xWbeFBM6G pic.twitter.com/qeBKwSUSKE
— Nigerian Tribune (@nigeriantribune) July 14, 2024
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