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An ongoing conflict in Iran has led to severe global energy shortages, impacting fuel availability and prices worldwide. While many nations struggle with scarcity, Nigeria's strategic development of the Dangote Refinery offers a buffer against the crisis and signifies a shift towards energy self-sufficiency.
Billionaire businessman Femi Otedola anticipates a significant strengthening of the Nigerian naira following the Dangote Refinery's announcement of reaching its full operational capacity of 650,000 barrels per day. He believes this will ease pressure on the foreign exchange market.
The Dangote Petroleum Refinery has announced its capability to produce 75 million litres of petrol daily, a figure that surpasses Nigeria's estimated national consumption of 50 million litres. The refinery also stated its capacity to supply 25 million litres of diesel and 20 million litres of aviation fuel.
