The Dangote Petroleum Refinery has assured that it has enough petrol in storage to meet Nigeria’s local demand.
The President of Dangote Industries Limited, Aliko Dangote, revealed this during a tour of the refinery by a Zambian government delegation over the weekend.
Dangote said the refinery currently has more than half a billion litres of petroleum products and over 600 billion Naira worth of products in its tanks.
“As we speak right now, we have more than half a billion litres. The refinery is producing enough refined products — like petrol, diesel, and kerosene — to meet 100 per cent of Nigeria’s needs,” he said.
He explained that the project is not just for Nigeria but for the entire continent, supporting the African Continental Free Trade Area (AfCFTA) deal.
“This refinery is not only for Nigeria; it is for Africa. We are trying to see how we trade with other African countries,” Dangote added.
The Zambian Minister of Energy, Makozo Chikote, who led the delegation, praised Dangote for his vision, saying the visit gave them hope for better energy solutions.
“Your presentation is an immediate solution to our energy needs. We are trying to promote competition among our private players,” Chikote said.
He expressed interest in partnering with Dangote, saying, “We are looking at Dangote coming on board, which would lead to efficient, reliable, and competitive products. We want these done like yesterday.”
Another member of the Zambian team, Samuel Maimbo, Vice President of Budget, Performance Review, and Strategic Planning at the World Bank Group, highlighted the role of the private sector in Africa’s growth.
“There is not enough government funding to develop Africa. The only way we can finance Africa’s growth is by working through the private sector,” he stated.
The Vice President of Dangote Industries Limited, Edwin Devakumar, noted that the refinery produces top-quality products and can process different types of crude oil.
“The refinery can meet all our requirements. Forty-four per cent of production meets Nigeria’s needs, and 56 per cent will be exported,” Edwin said.
He added, “Every day, we produce 104 million litres of lighter products — 57 million litres of petrol, 20 million litres of jet fuel, and 27 million litres of diesel. The local consumption is around 46 million litres, so the remaining 58 million litres will be exported daily.”
The Dangote Refinery, which was commissioned in May 2023, remains the largest single-train refinery in the world, with a capacity of 650,000 barrels per day.
