Dangote Refinery Has Enough Petrol to Meet Nigeria’s Needs, Says Aliko Dangote
By DAYO ADESULU
Billionaire Businessman Highlights Refinery’s Role in Africa’s Energy Security
Lagos, Nigeria – President of Dangote Industries Limited (DIL), Aliko Dangote, has assured that the Dangote Petroleum Refinery has sufficient Premium Motor Spirit (PMS), commonly known as petrol, to fully meet Nigeria’s domestic fuel demand.
Speaking over the weekend, Dangote revealed that the refinery currently holds over half a billion liters of petroleum products, valued at more than ₦600 billion, ensuring energy security for the nation.
“The refinery is producing enough refined products, including gasoline, diesel, and kerosene, to meet 100% of Nigeria’s fuel requirements,” Dangote stated.
Refinery’s Vision Extends Beyond Nigeria
During a tour of the refinery complex in Ibeju Lekki, led by Zambian Minister of Energy, Mr. Makozo Chikote, Dangote emphasized that the facility is not just for Nigeria but for Africa as a whole.
“This refinery is not only for Nigeria; it is for Africa. We must sustain the African Continental Free Trade Area (AfCFTA) deal and explore opportunities to trade with other African countries,” he added.
Zambia Seeks Energy Partnership with Dangote
Zambia’s Minister of Energy, who visited the refinery alongside a delegation of energy experts, expressed his admiration for the refinery’s scale and operations.
“We have learned so many advantages of bringing multiple players into the energy sector, which has improved the lives of citizens. Dangote is looking at the bigger picture for Africa,” Chikote said.
The Zambian government is keen to collaborate with Dangote Industries to strengthen its private-sector-driven petroleum industry, noting that 100% of Zambia’s petroleum sector is currently managed by private entities.
Dangote Refinery’s Production Capacity
According to Edwin Devakumar, Vice President of Oil and Gas at Dangote Industries Limited, the refinery is designed for maximum value extraction, ensuring that every barrel of crude oil is refined efficiently.
Key production highlights include:
- 57 million liters of petrol daily
- 20 million liters of jet fuel daily
- 27 million liters of diesel daily
With Nigeria’s local fuel demand estimated at 46 million liters per day, the refinery will export the surplus 58 million liters daily, boosting Nigeria’s economy and reducing reliance on fuel imports.
Private Sector Key to Africa’s Development
Samuel Maimbo, World Bank Vice President for Budget, Performance Review, and Strategic Planning, who is also running for the African Development Bank (AfDB) presidency, emphasized the need for private-sector investment in Africa.
“There is neither enough development aid nor government funding to develop Africa. The only way to drive economic growth at scale is through private-sector participation. That is why we are here today, to learn from Dangote’s ambitious vision,” Maimbo stated.
With Dangote Refinery’s capacity to refine various crude oils, including those from Africa and the Middle East, experts believe this marks a major milestone in Africa’s energy independence.
