The Nigerian National Petroleum Company Limited (NNPCL) and the federal government have resolved a crude supply crisis affecting the supply of petrol from the Dangote Petroleum Refinery and Petrochemicals in Ibeju Lekki, Lagos state.

Dangote expressed hope that authorities and stakeholders will abide by the provisions of the Petroleum Industry Act, PIA. The refinery’s fertiliser unit will resume export in two weeks to meet local demand this farming season, providing farmers with more access to fertiliser for their farm products.

Dangote also lamented the $500 million loss for his conglomerate due to the delay in securing a site for the Dangote Petrochemical Facility in Ogun State. The delay was attributed to the protracted process of acquiring Olokola land for a petrochemical facility on the $2.5 billion initial drawdown on bank loans. Dangote said that a total of $25 billion investments have been made in petrol refinery and fertilizer plant by the Dangote group over the past 10 years.