Dangote: $18bn Company Still Idle as Refinery Prioritizes Petrol

Company Limited has already gulped up to $18 billion but remains non-operational, raising fresh concerns about stalled investments.

Meanwhile, Aliko Dangote revealed that his privately built 650,000-barrel-per-day refinery, constructed after the late President Umar Yar’Adua’s administration halted his bid to acquire government-owned refineries, now allocates more than 50 percent of its output to Premium Motor Spirit (petrol).

Dangote noted that this figure far exceeds the commitment of existing government refineries, which dedicate only about 22 percent of their production to petrol.