The President of Dangote Industries Limited (DIL), Aliko Dangote, has assured Nigerians that his company, Dangote Petroleum Refinery, has enough petrol in storage to meet the country’s fuel demand.
Speaking over the weekend, Dangote revealed that the refinery currently has more than half a billion liters of refined petroleum products, including petrol, diesel, and kerosene, worth over N600 billion.
“As we speak, we have more than half a billion liters of refined products in our storage tanks. The refinery is producing enough petrol, diesel, and kerosene to meet 100% of Nigeria’s needs,” Dangote stated.
Refinery Serving Africa, Not Just Nigeria
During a tour of the refinery by a delegation from Zambia led by the country’s Minister of Energy, Mr. Makozo Chikote, Dangote emphasized that the refinery is not only meant for Nigeria but for the entire African continent.
“This refinery is not just for Nigeria; it is for Africa. We are committed to promoting trade under the African Continental Free Trade Area (AfCFTA). Our goal is to trade with other African countries and ensure energy security across the continent,” he explained.
Zambia’s Interest in Energy Partnership
Following the visit, Zambia’s Minister of Energy, Makozo Chikote, expressed admiration for Dangote’s vision and commitment to Africa’s economic growth. He noted that Zambia is keen on partnering with Denmark to enhance its energy sector.
“In Zambia, our petroleum sector is entirely driven by the private sector, and we are working to boost productivity in mining, agriculture, and other areas. What we have seen here at Dangote Refinery provides immediate solutions to our energy needs,” Chikote said.
He added that Zambia is eager to work with Dangote to introduce more competition in the market, improve efficiency, and ensure the availability of high-quality petroleum products.
Lessons from Dangote’s Business Model
Another member of the Zambian delegation, Samuel Maimbo, Vice President of Budget, Performance Review, and Strategic Planning at the World Bank Group, highlighted the importance of private sector investment in Africa’s development.
“There isn’t enough development aid or government funding to drive Africa’s economic growth at the required pace. The private sector remains the best solution for financing Africa’s progress. That’s why we’re here today—to learn from Dangote’s ambitious projects,” Maimbo stated.
Dangote Refinery’s Production Capacity
Edwin Devakumar, Vice President of Oil and Gas at Dangote Industries Limited, emphasized that the refinery produces top-quality products. “The refinery is designed to process Nigerian crude and also has the flexibility to refine most African and Middle Eastern crude oils. Our goal is maximum value extraction, ensuring that every barrel of crude processed delivers the best economic value,” Devakumar said.
He further revealed that the refinery produces 104 million liters of refined products daily, including:
- 57 million litres of petrol
- 20 million litres of jet fuel
- 27 million litres of diesel
Nigeria’s daily petrol consumption stands at about 46 million liters, meaning the excess 58 million liters will be exported, strengthening the country’s economy and positioning the refinery as a key player in Africa’s energy market.
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