Aliko Dangote, President of the Dangote Group, has firmly rejected claims that US President Donald Trump opposes his refinery project.
Speaking on Sunday, the billionaire businessman asserted that the American leader is actually pleased with the facility’s operations. He attributed this support to the substantial volume of business the refinery generates for the United States.
Addressing reporters at the Dangote Petroleum Refinery in Lekki, Lagos State, Dangote clarified the nature of the relationship between his company and the US. Far from being a rival, he described the United States as a key partner and a major beneficiary of the refinery’s supply chain.
A Major Trade Partner
Dangote explained that the refinery relies heavily on crude oil imports from the US to meet its operational needs.
“The U.S. has been one of our major suppliers of crude, which is why when someone says Trump is not happy with our refinery, it’s not true. Trump is more than happy with our refinery because of the scale of business involved,” Dangote stated.
He highlighted that the trade relationship is mutually beneficial. While Nigeria imports crude, the refinery also supplies the US market with finished products, specifically aviation fuel and gasoline.
Bridging the Supply Gap
The decision to source crude internationally stems from domestic shortages. Dangote noted that Nigeria is currently unable to produce enough crude oil to satisfy the refinery’s massive requirements.
Consequently, the facility has turned to neighboring African nations and global partners.
“We are not getting enough crude, so that’s why we buy from Ghana and a few other African countries. We also buy from the U.S.,” he said.
Rising Import Volumes
Dangote provided specific figures to underscore the scale of this trade. He revealed that the refinery currently purchases an average of 100 million barrels of crude oil from the United States annually.
Looking ahead, he projected that this figure could double to 200 million barrels per year as the refinery’s capacity and demand continue to grow.
RELATED LINKS: Dangote Slams Regulators Over Imports
