President of the Dangote Group, Aliko Dangote, has assured Nigerians that the country will experience a steady and uninterrupted supply of petrol throughout the Christmas season and beyond, declaring an end to the decades-long cycle of fuel queues.
Speaking with journalists after a visit to President Bola Tinubu at the State House, Abuja, Dangote revealed that the company has formally notified the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of its capacity to deliver 50 million litres of Premium Motor Spirit (PMS) daily, a volume that exceeds national demand.
“Nigeria has battled fuel queues since 1972. For the first time, we are solving this challenge through local production, not imports,” Dangote said.
“Even when maintenance was ongoing at the refinery, there were no queues. I can assure you: fuel queues are history.”
He added that the refinery’s output will soon surpass local consumption by 15 to 20 million litres, enabling fuel exports to neighbouring countries.
“Even our neighbours won’t see queues anymore,” he noted.
Dangote explained that Nigerian manufacturers, particularly in plastics, previously spent as much as $400 million annually on imported feedstock.
With the refinery now fully operational, he said these industries will receive 100% of their supply locally, reducing foreign exchange pressure.
He also unveiled an aggressive expansion plan to boost the refinery’s capacity to 1.4 million barrels per day by 2028, surpassing India’s Reliance refinery, which currently stands at 1.25 million barrels per day.
“Construction piling begins before the end of January,” he said, adding that all necessary agreements for expansion have already been signed.
In addition, the Dangote Group plans to scale its urea production to 12 million tonnes per year, making Nigeria the world’s largest producer, greater than Russia and Qatar. “Our ambition is to supply the entire African continent,” he said.
Reacting to recent reductions in petrol and diesel prices, Dangote attributed the trend to increased competition and a decline in cross-border smuggling.
“Prices are falling because we must compete with imports,” he explained.
“Thankfully, smuggling has reduced significantly, although not completely.”
He emphasized that the focus of the refinery is long-term national benefit, not rapid profit.
“We’re not trying to recover $20 billion overnight. This is a legacy investment. My goal is that whatever Nigerians need, fuel, fertiliser, power, we play a major part in providing it.”
Dangote also highlighted a major bottleneck in the solid minerals sector: inadequate port capacity.
“Apapa is full. Tin Can is full. Lekki is mainly for containers. You can’t export coal or copper without a port,” he said.
To address this, the Dangote Group is building what will become West Africa’s largest deep-sea port in Olokola, expected to be completed within 2 to 2½ years.
Dangote reiterated his support for the federal government’s naira-for-crude policy, calling it a patriotic measure aimed at strengthening the local economy.
He acknowledged initial pushback from international oil companies but predicted the policy would soon stabilise.
“It’s just a teething phase. It will be resolved, whether through legislation or administrative action,” he said.
Responding to concerns about competition with global refiners, Dangote maintained that the goal is to make Nigeria the refining hub of Africa.
“All African countries import fuel. What we consume should be produced here,” he said.
He also backed the Tinubu administration’s push for local industrialisation, warning that reliance on imports “is simply importing poverty and exporting jobs.”
He urged wealthy Nigerians to invest in productive industries rather than luxury assets. “If you can afford a private jet, you can invest in industries and create jobs,” he remarked.
Dangote described his meeting with President Tinubu as a routine check-in focused on the economy and the business environment.
“It was just a normal courtesy visit. We discussed the economy and the operating climate. It was a very productive engagement,” he said.
