Aliko Dangote, CEO of Dangote Refinery, has revealed that the Federal Government’s planned crude oil supply will allow 50 to 60% of non-operational filling stations in Nigeria to resume operations.
Speaking during an interview with Bloomberg TV on Monday in the U.S., Dangote highlighted the impact this supply would have on reducing fuel transportation costs by eliminating the need for shipping fuel across various locations.
“With the government, I think the agreement will be that when we take that crude oil, we will sell to everybody. It means that 50% or 60% of our petrol stations that have not been working or have been out of work, everybody will now be at work,” he said.
Dangote also noted that this initiative would save the country around $1 billion in demurrage fees related to ship landing payments across the continent. “It will reduce the cost of having ships floating all over Lome and other places. For demurrage alone, we will save over $1 billion,” he added.
