An under-construction storage tank at the Dangote site in 2019
Dangote mystery cannot be solved soon enough for Nigeria
The refinery project is well-advanced but is unlikely to be online in time to help alleviate a forecast gasoline supply squeeze this summer
The startup of the much-delayed 650,000bl/d Dangote refinery is critical to Nigeria’s energy and economic fortunes. The lack of a functioning refining sector means the country’s finances remain burdened by huge public expenditure on fuel imports and subsidies, particularly gasoline, much of which is sourced in Europe around the ARA refining hub. But the gap between optimistic official statements and downbeat analyst projections means continued uncertainty over the political and business elite’s trade-rebalancing hopes. Despite some bullish statements from the Nigerian government, the Dangote conglomerate has remained tight-lipped on the project’s progress. Most industry analysts are relative
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