President/Chief Executive of Dangote Petroleum Refinery, Aliko Dangote, has declared that Nigeria’s five-decade-long struggle with fuel queues has finally come to an end following the successful operation of his 650,000 barrels-per-day refinery.
Speaking at an event marking the first anniversary of petrol production from the facility, Dangote noted that Nigerians had endured fuel scarcity since 1975 but said the situation has changed since the refinery rolled out Premium Motor Spirit (PMS) on September 15, 2024.
“We have been battling fuel queues since 1975, but today Nigerians are witnessing a new era,” Dangote said.
The billionaire industrialist acknowledged the enormous risks involved in building the $20 billion refinery, saying he ignored repeated warnings from experts and officials that only sovereign states could embark on such large-scale projects.
“The decision to build the refinery was not easy. If it had gone wrong, lenders would have taken our assets. But we believed in Nigeria and Africa,” he said.
Fuel Price Impact
Dangote disclosed that the refinery has already reduced petrol prices from nearly ₦1,100 before production began to ₦841 in the South-West, Abuja, Delta, Rivers, Edo, and Kwara. He added that with the gradual rollout of Compressed Natural Gas (CNG) trucks, the price cut would soon spread nationwide.
Between June and the first week of September 2025, the refinery exported over 1.1 billion litres of petrol, underscoring its capacity to meet domestic demand and boost foreign exchange earnings.
Jobs and Industrial Growth
Highlighting the refinery’s job creation drive, Dangote announced that 4,000 CNG-powered trucks had been procured, expected to create at least 24,000 jobs.
“Our employees earn salaries three times the minimum wage. Our drivers have life and health insurance, covering their families, and pensions. We are not displacing jobs; we are creating many more,” he stressed.
Dangote clarified that while the company respects trade unions, membership is a matter of choice for employees.
‘Nigeria First’ Policy
Calling for stronger protection of local industries, Dangote urged the National Assembly to back the Federal Government’s “Nigeria First” policy. He cited the collapse of the textile industry as a warning against allowing the dumping of cheap foreign goods.
“Other nations were not industrialised by outsiders. We must build and industrialise our own economies. Relying on imports means exporting jobs and importing poverty,” he said.
Expansion Plans
Looking ahead, Dangote revealed that the refinery’s capacity would be expanded to 700,000 barrels per day in its second year of operation. He also announced plans to make Nigeria the largest producer of fertiliser and a leading exporter of polypropylene.
The refinery boss reaffirmed that his company has no plans to enter the retail fuel market, noting that he had turned down offers to acquire filling stations.
“Nigeria has now become the refining hub of Africa. We are fully committed to supporting the government in adding value, creating jobs, and building a stronger economy,” Dangote said.
He expressed gratitude to the Federal Government, the Independent Petroleum Marketers Association of Nigeria (IPMAN), and Nigerians for their support, while showcasing some of the CNG trucks currently loading products at the refinery for distribution nationwide.
