Aliko Dangote, the president of Dangote Industries Limited (DIL), has assured that the Dangote Petroleum Refinery has sufficient Premium Motor Spirit (PMS), commonly known as petrol, in storage to meet Nigeria’s domestic demand.
Speaking over the weekend, Dangote revealed that the refinery currently holds over half a billion litres of petroleum products, valued at more than ₦600 billion.
“As of now, we have more than half a billion litres. The refinery is producing enough refined products—gasoline, diesel, and kerosene—to fully meet Nigeria’s needs,” he stated.
During a tour of the refinery complex by a Zambian government delegation, led by Minister of Energy Makozo Chikote, Dangote emphasized that the project is not just for Nigeria but for the entire African continent.
“This refinery is not solely for Nigeria; it serves Africa. We must sustain the African Continental Free Trade Area (AfCFTA) initiative by fostering trade with other African nations,” he added.
Zambia’s Energy Minister, Chikote, commended Dangote’s vision, stating that his visit to the refinery reinforced the business mogul’s commitment to Africa’s broader economic development.
Leading a delegation of energy experts to explore potential partnerships with Dangote Refinery, Chikote expressed readiness to collaborate with the company to address Zambia’s energy challenges.
Following a tour of the Dangote complex at the Free Trade Zone in Ibeju Lekki, which included stops at the Single Point Mooring, the Dangote Jetty, Africa’s largest fertilizer plant, and the world’s biggest single-train refinery (650,000 barrels per day), Chikote said the presentation by Dangote Industries’ Vice President of Oil and Gas, Edwin Devakumar, deeply resonated with Zambia’s energy concerns.
“In Zambia, we have created an environment that encourages private-sector participation in national development. Currently, our petroleum sector is entirely managed by private entities,” Chikote stated.
He noted that Zambia is striving for increased productivity in key industries like mining and agriculture and believes that partnering with Dangote Refinery could provide an immediate solution to the country’s energy needs.
“We aim to foster competition among private sector players. Bringing Dangote on board will ensure efficient, reliable, high-quality, and competitive products—and we want this done as soon as possible,” he added.
Chikote also stressed the need for African nations to trade among themselves to achieve economic self-reliance and reduce dependence on external support.
“We must promote intra-African trade to strengthen our economies. What we have seen here at Dangote Refinery proves that Africa can stand on its own without relying on foreign aid. This visit has reinforced my belief that Dangote has a clear vision for Africa’s future,” he said.
Samuel Maimbo, a member of the Zambian delegation and Vice President of Budget, Performance Review, and Strategic Planning at the World Bank Group—who is also campaigning for the presidency of the African Development Bank (AfDB)—highlighted the importance of private-sector investment in Africa’s development.
“There isn’t enough development aid or government funding to drive Africa’s growth at the necessary scale. The private sector remains the only viable solution for financing Africa’s rapid development, which is why we are here—to learn and see what an ambitious industrial program looks like,” Maimbo explained.
Meanwhile, Dangote Industries Limited’s Vice President, Edwin Devakumar, reaffirmed that the refinery prioritizes producing high-quality petroleum products.
“The project was designed to refine Nigerian crude and add value. However, we also ensured the refinery has the flexibility to process crude from other African nations and parts of the Middle East,” Devakumar noted.
He further explained that the refinery was built with a maximum value extraction approach, ensuring that every barrel of crude processed yields the highest possible value.
“The refinery’s capacity can fully meet Nigeria’s fuel demand. In fact, only 44% of production is required to meet local consumption, while 56% will be exported.
“Every day, we produce 104 million litres of refined products—57 million litres of petrol, 20 million litres of jet fuel, and 27 million litres of diesel. Since Nigeria’s daily fuel consumption is just about 46 million litres, the surplus 58 million litres will be exported,” he concluded.
