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Dangote to process first crude oil in September

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Nigeria’s giant new Dangote oil refinery will start processing crude in the third quarter of this year.

This was revealed by Aliko Dangote, Africa’s richest man, in a briefing at the plant site in Lagos over the weekend.

According to Bloomberg, Dangote said mechanical work on the refinery was complete and “hopefully before the end of the third quarter we should be in the market.”

He added that the plant would start with a processing capacity of 540,000 barrels a day.

READ ALSO: CWG, Dangote Cement lead trading as investors gain N248bn

Dangote said. “Full production can start maybe, by the end of the year or beginning of 2023,” he said.

Dangote refinery located in Lagos at a cost of $19 billion.

The refinery has installed capacity of 650,000 barrels per day and it is believed output from the refinery will be more than enough to meet Nigeria’s fuel demands and turn Africa’s largest crude producer into an exporter of refined crude.

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