Alhaji Aliko Dangote, President of Dangote Group, has assured Nigerians that the Dangote Petroleum Refinery has more than enough fuel to meet local demand.
According to him, the refinery currently holds over 500 million litres of petrol in its reserves and will reach its full production capacity of 650,000 barrels per day by next month.
Dangote made this announcement on Saturday during a tour of the $20 billion Lekki-based refinery with Zambia’s Minister for Energy, Makozo Chikote.
The Zambian official visited the refinery seeking collaboration to enhance his country’s energy security.
Nigeria Can’t Consume Half of Our Production – Dangote
Dangote revealed that the refinery is producing enough refined products—gasoline, diesel, and kerosene—to meet 100% of Nigeria’s fuel needs.
However, he noted that the country consumes only 40% of the refinery’s total production, with the remaining 60% designated for export to other African nations.
“We have more than N600 billion worth of stock in our tank farm today. We can satisfy more than the local needs of Nigeria,” he said.
He also disclosed that global refineries are shutting down due to the superior quality of fuel produced at Dangote Refinery.
According to him, the sulphur content of his fuel can be as low as zero parts per million (ppm), and the octane number can reach 95, making it one of the cleanest fuels in Africa and Europe.
Strategic Expansion and International Partnerships
To ensure a steady supply of crude oil, Dangote stated that arrangements are being made with Afreximbank and other financial institutions to tackle financing challenges, including issues related to letters of credit.
The Vice President of Dangote Group, Davakumar Edwin, highlighted that the refinery’s strategic location near the sea makes it easier to export fuel.
He provided data on production, stating that the refinery produces 104 million litres of petroleum products daily:
- 57 million litres of petrol
- 20 million litres of jet fuel
- 37 million litres of diesel
Since local consumption is only 46 million litres per day, the remaining 58 million litres are exported daily.
Zambia Seeks Dangote’s Support for Energy Security
During the visit, Zambia’s Minister for Energy, Makozo Chikote, emphasized the need for energy security in his country.
He expressed interest in partnering with Dangote to ensure sufficient, affordable, and reliable fuel supply.
“We are looking at Dangote coming on board to ensure competitive fuel pricing and a stable petroleum market for Zambia,” he stated.
Chikote highlighted that Zambia heavily relies on imports from Dar es Salaam, Tanzania, leading to high congestion and supply delays.
The country is now seeking African partnerships to strengthen energy security and reduce dependence on external fuel sources.
A Refinery for Africa
Dangote reiterated that the refinery is not just for Nigeria, but for Africa, aligning with the African Continental Free Trade Area (AfCFTA) agreement.
“This refinery is not only for Nigeria; it is for Africa. We must sustain the African Free Trade Area deal and strengthen trade between African nations,” he affirmed.
With its large-scale production and high-quality fuel, the Dangote Refinery is positioning itself as a game-changer in Africa’s energy sector, ensuring that the continent no longer relies on foreign markets for refined petroleum products.
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