Africa’s richest man, Aliko Dangote, has assured Nigerians that his Dangote Petroleum Refinery has an ample supply of petrol, with over N600 billion worth of refined products currently in storage.
Speaking during a weekend tour of the refinery by Zambia’s Minister of Energy, Makozo Chikote, Dangote emphasized that his facility has the capacity to meet 100% of Nigeria’s fuel needs, while also supplying other African nations.
“Right now, we have more than half a billion litres of petrol in storage. Our refinery is producing enough fuel—petrol, diesel, and kerosene—to fully meet Nigeria’s domestic consumption,” Dangote stated.
A Refinery Built for Africa
Dangote underscored that the refinery’s mission extends beyond Nigeria, aligning with the African Continental Free Trade Area (AfCFTA) to strengthen trade across the continent.
“This refinery is not just for Nigeria—it is for Africa. We must sustain the AfCFTA deal and explore ways to supply other African countries,” he added.
Zambia’s Minister of Energy, Makozo Chikote, praised Dangote’s vision, describing the refinery as a game-changer for Africa’s energy market.
“Our visit has opened our eyes to how Africa can become self-reliant in energy. We want to collaborate with Dangote to enhance competition and fuel efficiency in Zambia,” Chikote noted.
Private Sector as Africa’s Growth Engine
Joining the discussion, Samuel Maimbo, Vice President for Budget and Strategic Planning at the World Bank Group, stressed that Africa’s development cannot rely solely on government funding or international aid.
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“The only way to achieve large-scale growth in Africa is through private sector investments like this. Dangote’s refinery is proof of what can be done,” Maimbo stated.
Nigeria’s Fuel Security and Export Potential
According to Edwin Devakumar, Vice President of Oil & Gas at Dangote Industries, the refinery is designed to produce more than Nigeria consumes, positioning the country as a major fuel exporter.
“Every day, we refine 104 million litres of fuel: 57 million litres of petrol, 20 million litres of jet fuel, and 27 million litres of diesel. Nigeria’s daily demand is around 46 million litres, meaning the surplus will be exported,” Devakumar explained.
A Turning Point for Africa’s Energy Industry
With a refining capacity of 650,000 barrels per day, Dangote’s plant is the largest single-train refinery in the world. As it scales up production, the facility is expected to reduce Africa’s dependence on fuel imports, stabilize energy prices, and create trade opportunities within the continent.
Dangote reaffirmed his commitment to ensuring energy security, stating that Nigeria—and Africa—no longer need to rely on foreign refineries.
“Africa can stand on its own. With private sector innovation and investment, we can drive the continent’s economic transformation,” he declared.