President of Dangote Industries Limited (DIL), Aliko Dangote, has assured Nigerians that the Dangote Petroleum Refinery has sufficient Premium Motor Spirit (PMS), popularly known as petrol, to meet the country’s domestic demand.
Speaking over the weekend, Dangote revealed that the refinery currently holds more than half a billion litres of petroleum products, with inventory worth over ₦600 billion.
“As we speak, we have more than half a billion litres. The refinery is producing enough refined products, including petrol, diesel, and kerosene, to meet 100 per cent of Nigeria’s needs,” he stated.
During a visit by a delegation from the Zambian government, led by Energy Minister Mr. Makozo Chikote, Dangote emphasised that the refinery’s impact extends beyond Nigeria.
“This refinery is not just for Nigeria; it is for Africa. We must sustain the African Continental Free Trade Area (AfCFTA) agreement by facilitating trade with other African nations,” he noted.
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Following a tour of the Dangote complex in the Free Trade Zone, Ibeju Lekki, Minister Chikote expressed admiration for the refinery’s scale and capabilities. He stated that Dangote’s vision aligns with Africa’s broader economic goals.
“In Zambia, the private sector manages 100 per cent of our petroleum. We are looking at Dangote coming on board to ensure efficiency, reliability, quality, and competitive pricing,” Chikote said.
He added that Zambia aims to boost productivity in mining, agriculture, and other industries, and the refinery presents an immediate solution to the country’s energy needs.
“We must promote intra-African trade to strengthen our economies. From what we have seen, Africa can reduce its dependence on overseas support by leveraging initiatives like Dangote’s refinery,” he remarked.
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Also on the delegation was Samuel Maimbo, Vice President of Budget, Performance Review, and Strategic Planning at the World Bank Group, who is vying for the presidency of the African Development Bank (AfDB).
Maimbo stressed the need for private-sector involvement in Africa’s economic growth, stating, “There isn’t enough development aid or government funding to drive Africa’s progress. The only way forward is through private-sector investment, which is why we are here to learn from the Dangote model.”
Refinery Producing High-Quality Fuel for Local and Export Markets
Vice President of Dangote Industries Limited, Edwin Devakumar, highlighted that the refinery is designed to process Nigerian crude while allowing flexibility for other African and Middle Eastern crude oils.
“Our strategy is maximum value extraction. Every barrel of crude processed adds the highest possible value,” Devakumar explained.
He further disclosed that the refinery’s daily production includes:
104 million litres of lighter petroleum products
57 million litres of petrol
20 million litres of jet fuel
27 million litres of diesel
With Nigeria’s daily petrol consumption at about 46 million litres, he stated that the excess 58 million litres would be exported, boosting regional trade and economic integration.
