00:00Nigeria's Dangote refinery, Africa's largest, is stepping into a critical role as fuel and
00:07fertiliser shortages ripple across the continent amid disruptions linked to the Iran war.
00:13Speaking during a visit to the massive Lagos-based facility, billionaire industrialist Aliko Dangote
00:20struck a confident tone. He said the refinery is now running at full capacity, 650,000 barrels
00:27per day and is actively supplying not just Nigeria but much of West, Central and even East Africa.
00:35In fact, the refinery has already shipped around 17 cargoes of gasoline to other African countries.
00:42But despite the surge in output, fuel prices in Nigeria are still hitting record highs
00:47because of rising global crude prices are offsetting the benefits of local refining.
00:54Dangote says the solution could lie in sourcing more crude domestically and, crucially,
00:59pricing it in local companies to ease pressure on fuel costs.
01:04Meanwhile, Nigeria's state oil company is reportedly increasing crude allocations to the refinery.
01:09Department of finance is an takeaway.
Comments