Abuja, Nigeria — The Dangote Petroleum Refinery has assured Nigerians of an adequate fuel supply, emphasizing its ability to meet both local and international demand.
This assurance was given by the President of the Dangote Group, Alhaji Aliko Dangote, during a facility tour of the $20 billion refinery in Lekki, Lagos State, alongside Zambia’s Minister of Energy, Makozo Chikote.
Speaking during the visit, Dangote disclosed that the refinery currently holds over 500 million litres of petrol in its reservoirs, with products sufficient to serve Nigeria and neighboring countries.
“We have more than half a billion litres of petrol in stock, valued at over N600 billion,” Dangote stated. “Our facility is capable of meeting Nigeria’s fuel needs entirely, while also supplying other markets across Africa.”
He further revealed that the refinery is ramping up production and is set to achieve its full capacity of 650,000 barrels per day by next month. Dangote highlighted that Nigeria consumes only about 40 percent of the refinery’s output, with the remaining 60 percent designated for export.
The business magnate also underscored the refinery’s competitive edge in fuel quality, noting that it produces refined products, including gasoline, diesel, and kerosene, at superior standards compared to refineries in Africa and Europe.
“In terms of quality, no refinery in Africa or even Europe can match our production,” Dangote emphasized. “We can refine fuel with as low as zero parts per million of sulphur and an octane number of 95, which surpasses global regulatory standards.”
Dangote also addressed challenges related to crude oil supply and financing, revealing that the company is in discussions with Afreximbank to resolve issues surrounding letters of credit and financial logistics.
During the visit, Zambia’s Minister of Energy, Makozo Chikote, expressed interest in partnering with the Dangote Group to enhance his country’s energy security. He highlighted Zambia’s reliance on a single petroleum import facility in Dar es Salaam, Tanzania, which also serves other neighboring countries, leading to congestion and supply delays.
“We are here to explore partnerships that will guarantee stable and affordable fuel supply for Zambia,” Chikote said. “With Dangote’s entry into the regional market, we see an opportunity for greater competition and efficiency in Africa’s energy sector.”
He further stressed the need for African nations to collaborate in solving regional energy challenges, advocating for increased trade and self-reliance within the continent.
Dangote responded by reaffirming his commitment to supporting Africa’s energy needs beyond Nigeria, stating, “This refinery is not just for Nigeria, saying it is for Africa. We must leverage the African Continental Free Trade Agreement to foster intra-African trade and economic independence.”
The visit concluded with a shared vision for deeper economic ties and sustainable energy solutions across Africa, as the Dangote Refinery continues to redefine fuel production and distribution on the continent.
By Taiwo Olatinwo | February 24, 2025
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