Dangote refinery now stocks over 500M litres of petrol—enough to meet Nigeria’s fuel needs while powering Africa’s energy future through AfCFTA trade.
LAGOS, Nigeria – On the page of Nigeria’s drive for energy self-sufficiency, Aliko Dangote, President of Dangote Industries Limited (DIL), announced that his flagship Dangote Petroleum Refinery currently holds more than half a billion litres of Premium Motor Spirit (PMS) in storage—fuel equivalent to over ₦600 billion in market value. According to Dangote, this immense reserve is more than sufficient to meet 100 per cent of Nigeria’s refined product needs, setting the stage not only for domestic stability but also for a pan-African energy revolution.
During a high-profile tour of the refinery complex, which was attended by a delegation from Zambia led by the nation’s Minister of Energy, Mr. Makozo Chikote, Dangote confidently stated, “As we speak right now we have more than half a billion litres in our tanks. The refinery is producing enough refined products—gasoline, diesel, and kerosene—to meet 100 per cent of Nigeria’s requirements.” This bold claim comes amid ongoing debates on fuel imports and local production capacity, as some fuel marketers have recently called for increased imports to compensate for perceived shortages.
Dangote’s remarks come at a critical juncture. With Nigeria’s daily PMS consumption estimated at around 50 million litres, the refinery’s stockpile is said to represent a ten-day production reserve. “We have everything the country needs in our storage,” he asserted, urging both the Nigerian National Petroleum Corporation (NNPC) and fuel marketers to draw from his abundant reserves rather than resort to expensive and unnecessary imports.
Beyond Nigeria: A Vision for a Self-Reliant Africa
While the primary objective is to secure Nigeria’s domestic fuel requirements, Dangote made it clear that his vision extends far beyond national borders. “This refinery is not only for Nigeria; it is for Africa,” he said. By aligning with the goals of the African Continental Free Trade Area (AfCFTA), Dangote envisions a regional energy hub that can facilitate trade and foster economic integration across the continent. The message was warmly received by the Zambian delegation, with Minister Chikote praising Dangote’s broader outlook. “The presentation and the operational efficiency at the Dangote Refinery speak to the challenges we face in Zambia. It’s clear that Dangote is not just focused on Nigeria; he’s looking at the bigger picture for Africa,” Chikote remarked during the tour.
This pan-African ambition is further bolstered by remarks from other international observers. Samuel Maimbo, 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—emphasized that Africa’s growth cannot be sustained solely by development aid. “The private sector is the engine for financing our growth. Dangote’s model shows us what an ambitious, private-sector-driven programme can achieve,” Maimbo commented.
Under the operational leadership of Vice President of Oil and Gas, Edwin Devakumar, the Dangote Refinery has not only ramped up production but also fine-tuned its product mix. According to Devakumar, the facility produces lighter petroleum products at a daily rate of 104 million litres. Out of this, 57 million litres of petrol, 20 million litres of jet fuel, and 27 million litres of diesel are produced every day. Notably, while local consumption is pegged at approximately 46 million litres, the remaining 58 million litres are earmarked for export, underscoring the refinery’s dual role as both a domestic supplier and an international exporter.
The production breakdown reinforces Dangote’s confidence in the refinery’s capability to meet and even exceed domestic demand. It also aligns with Nigeria’s broader strategic aim of ending the importation of petroleum products once the refinery reaches full operational capacity—a target that President Bola Tinubu’s administration has been actively promoting. The government has been urging stakeholders to rely on locally produced fuel to ease foreign exchange pressures, particularly in a market where local currency fluctuations can have wide-reaching economic impacts.
Recent meetings in Abuja, convened by President Tinubu and attended by key figures from the NNPC, oil regulators, and Dangote himself, have focused on reviewing policies aimed at strengthening local crude oil sales in naira. This policy is designed to support the Dangote refinery’s operations, secure crude supply at competitive prices, and ultimately reduce Nigeria’s reliance on imported refined products. Dangote’s plea is clear: “I expect the NNPC and marketers to stop importing. They should come and collect; we have everything they need.” This sentiment echoes across various industry reports, including recent updates from Reuters and CNBC Africa, which have highlighted the tension between local production capabilities and the practice of importing fuel despite abundant domestic reserves.
Industry experts argue that Dangote’s achievement with the Dangote refinery represents a significant milestone in Nigeria’s industrial evolution. Not only does it mark a triumph of private-sector investment in a traditionally state-dominated sector, but it also challenges entrenched practices that have long kept Nigeria dependent on foreign refined products. By leveraging his refinery’s massive storage capacity and production efficiency, Dangote is effectively rewriting the rules of Nigeria’s energy market.
The successful scaling of the Dangote Refinery holds transformative potential for Nigeria and the entire African continent. As the refinery continues to boost its output—from an initial target of 25 million litres per day to a planned 35 million litres—the economic ripple effects are expected to be profound. Reduced fuel import bills, enhanced energy security, and the creation of thousands of jobs are just a few of the anticipated benefits.
Moreover, by positioning his refinery as a central player in the AfCFTA framework, Dangote is laying the groundwork for a more integrated and self-reliant African energy market. This development not only enhances Nigeria’s standing as a leading oil producer but also positions it as a key supplier of refined petroleum products across Africa.
In conclusion, Dangote’s recent announcement is more than just a boast about fuel storage numbers—it is a statement of intent. It signals a new era where private-sector innovation and regional cooperation converge to address longstanding challenges in Africa’s energy landscape. As Dangote’s refinery continues to ramp up production and expand its storage capabilities, it stands as a beacon of hope for a continent eager to reduce its reliance on imports and chart its own course toward sustainable development.
Related: https://symfoninews.com/dangote-refinery-slashes-petrol-price-to-n890-litr/
