Chairman of Dangote Group, Aliko Dangote, on Friday assured Nigerians that fuel shortages will not occur during the festive season.
Addressing State House correspondents after a meeting with President Bola Tinubu at the Aso Rock Villa, Dangote stated that his refinery is fully prepared to supply the nation.
He revealed that the refinery has informed the Nigerian Midstream and Downstream Petroleum Regulatory Authority that it can deliver 50 million litres of Premium Motor Spirit (PMS) daily, exceeding national demand.
He added that by early next year, the facility will produce 15–20 million litres more than needed, allowing Nigeria to export surplus fuel to neighbouring countries.
“Historically, Nigeria has battled fuel queues since 1972. For the first time, we are eliminating those queues, not through imports but by producing locally. Even when we were servicing the refinery, there were no queues. I can assure you that queues are now history,” Dangote said.
He further highlighted the benefits for domestic industries, particularly manufacturers in the plastics sector, who will now have consistent access to locally produced feedstock, reducing dependence on costly imports.
Dangote also outlined plans to expand refinery capacity to 1.4 million barrels per day by 2028, surpassing India’s Reliance refinery.
The industrialist said this expansion, along with the scaling up of urea production to 12 million tonnes annually, positions Nigeria to become the leading producer of fertilizers in Africa and globally.
“Our goal is to make Nigeria the refining hub of Africa. All African countries import fuel. We want what we consume to be produced here. Domestic investors must lead the way; once they do, foreign investors will follow,” he said.
Dangote attributed the recent decline in fuel prices to increased competition and a significant drop in smuggling, which had historically undermined local production.
He also noted logistics constraints in Nigeria’s solid minerals sector, explaining that major ports are congested and the Group is constructing West Africa’s largest deep-sea port at Olokola to facilitate exports of coal, copper, and other minerals.
He expressed full support for the Tinubu administration’s naira-for-crude initiative, calling it a patriotic policy that strengthens the economy.
Dangote concluded by urging wealthy Nigerians to channel their resources into productive investments rather than luxury consumption, emphasising that sustainable industrial growth depends on domestic leadership and collaboration.
