Dangote Refinery Can Meet Nigeria’s Petrol Demand – Dangote

Billionaire businessman Aliko Dangote has assured Nigerians that his refinery has sufficient petrol supply to meet the country’s fuel needs. Read more on his statement.

Aliko Dangote, Africa’s wealthiest individual and the President of Dangote Industries Limited (DIL), has assured Nigerians that the Dangote Petroleum Refinery holds enough Premium Motor Spirit (PMS), commonly referred to as petrol, in reserve to satisfy local demand.

During his weekend speech, Dangote revealed that the oil refinery holds over half a billion liters of petroleum and products valued at more than 600 billion Naira.

Dangote stated, “At this moment, we have over half a billion litres. The refinery is producing sufficient refined products such as gasoline, diesel, and kerosene to fully meet Nigeria’s needs.”

Following a tour of the refinery complex by a Zambian government delegation headed by the country’s Minister of Energy, Mr. Makozo Chikote, Dangote emphasized that the refinery project is not solely for Nigeria, similar to past initiatives.

This refinery isn’t just for Nigeria; it’s for all of Africa. It’s essential to uphold the African Continental Free Trade Area (AfCFTA) agreement as we explore trade opportunities with other African nations.

The Zambian Minister of Energy stated that his main impression from the visit to Dangote Refinery was President Aliko Dangote’s genuine focus on Africa’s broader future.

Chikote, who headed a delegation of energy specialists visiting the Dangote Petroleum Refinery to collaborate with Zambia on energy solutions, conveyed satisfaction and eagerness to partner with the African manufacturing powerhouse.

After touring the Dangote complex at the Free Trade Zone in Ibeju Lekki—from the Single Point Mooring to the Dangote Jetty, including Africa’s largest fertilizer plant and the world’s biggest single-train refinery with a capacity of 650,000 barrels per day—the Minister expressed excitement. He mentioned that Mr. Edwin Devakumar, Vice President for Oil and Gas at Dangote Industries Limited, delivered a presentation that truly resonated with them by addressing Zambia’s challenges.

The energy minister stated, “In Zambia, we established a conducive environment for private sector involvement in our nation’s growth and development. Presently, the entire petroleum sector is managed by private companies.”

We aim to boost productivity in sectors such as mining, agriculture, and others. Your presentation serves as an immediate solution to address our energy needs. Additionally, we are working on enhancing competition among private players.

“We are considering bringing Dangote on board, which would result in efficient, reliable, high-quality, and competitive products. We want this implemented as soon as possible.”

Arriving at the Dangote Petroleum Refinery, we’ve discovered numerous benefits of inviting multiple participants for competition, which has enhanced the quality of life for citizens.

According to Edwin Devakumar, Vice President of Dangote Industries Limited, the refinery focuses on producing top-quality products as its primary business strategy.

Edwin explained, “The project was designed to refine crude oil from Nigeria and enhance its value. We also aimed to incorporate the flexibility needed to process a variety of African crudes as well as some Middle Eastern ones.”

He explained, “In a different approach, our focus was on maximizing value extraction. This involves ensuring that each barrel of crude processed yields the highest possible value.”

Edwin stated, “The Refinery is capable of fulfilling all our needs. It can supply 44 percent of Nigeria’s total requirements, while the remaining 56 percent of its production will be exported. Daily outputs include lighter products amounting to 104 million liters: comprising 57 million liters of petrol, 20 million liters of jet fuel, and producing an additional 27 million liters in diesel.”

He added that local consumption is approximately 46 million litres, while the remaining 58 million litres will be exported each day.