Daud Olatunji
The President of Dangote Industries Limited, Aliko Dangote, has revealed that the Dangote Petroleum Refinery currently has over N600 billion worth of petroleum products in storage, including more than half a billion litres of Premium Motor Spirit (PMS), commonly known as petrol.
Speaking at the weekend during a visit by a Zambian government delegation, Dangote assured that the refinery is well-positioned to meet Nigeria’s fuel demands and contribute significantly to Africa’s energy market.
He emphasized that the refinery produces sufficient refined products such as petrol, diesel, and kerosene to satisfy 100 per cent of Nigeria’s requirements, with surplus volumes earmarked for export.
Dangote highlighted the refinery’s role in fostering regional trade under the African Continental Free Trade Area (AfCFTA), stating that the project extends beyond Nigeria’s borders to support Africa’s broader economic growth.
Dangote said, “…as we speak right now we have more than half a billion litres. The Refinery is producing enough refined products, like gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements.
“This refinery is not only for Nigeria; it is for Africa. We must sustain the African Continental Free Trade Area (AfCFTA) deal. We are trying to see how we trade with other African countries.”
The Zambian Minister of Energy, Makozo Chikote, who led the delegation, expressed admiration for the refinery’s scale and operations.
He acknowledged that Dangote’s vision aligns with Africa’s push for economic independence and intra-continental trade.
According to him, Zambia is keen to collaborate with Dangote Industries to enhance its energy sector, given that the country’s petroleum supply is entirely managed by private sector players.
During the tour of the refinery complex, including the Single Point Mooring, the Dangote Jetty, and Africa’s largest fertilizer plant, Chikote commended the refinery’s capacity and its potential to drive energy competition across Africa.
He stressed that increasing competition in the energy sector would lead to higher efficiency, better reliability, and improved quality of petroleum products for African nations.
Samuel Maimbo, Vice President for Budget, Performance Review, and Strategic Planning at the World Bank Group, also echoed similar sentiments.
He underscored the critical role of private sector investments in financing Africa’s growth at a scale sufficient to address the continent’s economic challenges.
He noted that government funding alone cannot develop Africa, making private sector-driven initiatives such as the Dangote Refinery essential for sustainable progress.
Vice President of Dangote Industries Limited, Edwin Devakumar, explained that the refinery was strategically designed to extract maximum value from crude oil, ensuring optimal efficiency in production.
According to him, the refinery produces 57 million litres of petrol daily, 20 million litres of jet fuel, and 27 million litres of diesel, exceeding Nigeria’s daily fuel consumption of 46 million litres.
He stated that the surplus of 58 million litres would be exported daily, further boosting Africa’s energy trade and economic integration.
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