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Dangote Petroleum Refinery, owned by Africa’s richest man, Aliko Dangote, says it will keep the country well supplied with petrol and diesel through Christmas and New Year, noting its current daily output now exceeds national demand.
Anthony Chiejina, Group Chief Branding and Communications Officer at Dangote Industries, said in a statement Saturday that the plant is now releasing more than 45 million liters of petrol and 25 million liters of diesel each day.
“Our output is higher than national consumption,” Chiejina said. “We are working with regulators and major marketers to make sure products reach all parts of the country. We are committed to keeping Nigeria moving.”
Support for tariff policy
Chiejina said increased domestic refining has been easing pressure on the naira, cutting foreign exchange spending on fuel imports. He defended the government’s new tariff rule on petroleum imports, saying the protection is needed to stop product dumping and shield local producers.
“Dumping destroys jobs and damages confidence in local production,” he said. He added that cheap fuel from overseas—often below cost—would put refineries in Nigeria at risk. Chiejina thanked President Bola Tinubu for backing the tariff plan and argued the measure would strengthen energy security and encourage investment in local capacity.
More capacity planned
The refinery began gasoline production in September and has been credited by some analysts with helping ease pump prices in recent weeks. Petrol, which was selling for about N1,030 ($0.71) per liter a year ago, now trades between N841 ($0.58) and N851 ($0.6) in major cities. Diesel has dropped from roughly N1,700 ($1.2) a liter last year to about N1,020 ($0.7).
Nigeria has struggled for decades with periodic fuel shortages, long queues at filling stations, and reliance on imports, despite being Africa’s top crude producer. Aliko Dangote said in Lagos last month the company will keep retail prices stable during the holiday season. “Nigerians can expect to move freely this festive season,” he said.
Dangote aims to double crude processing
Launched with a capacity of 350,000 barrels per day in 2024, it now refines about 650,000 barrels daily. Dangote, whose net worth stands at $30.6 billion according to Bloomberg, said the refinery plans to raise that figure to 1.4 million barrels per day within three years.
He added that the group is seeking about $5 billion in additional financing to expand operations and strengthen Nigeria’s energy independence.
