- The Dangote Petroleum Refinery has committed to ensuring a continuous fuel supply throughout Nigeria during the holiday period, producing more than the country’s daily requirements.
- The company states that higher local refining activity is helping to stabilize the naira and backs the FG’s tariff strategy aimed at shielding local businesses from unjust foreign competition.
- Aliko Dangote pledged to Nigerians that fuel prices will remain steady, pointing out that the cost of gasoline and diesel has decreased considerably since production started in September 2024.
ECHOVISATA.ng reporter Victor Enengedi brings more than ten years of expertise in reporting on Energy, Small and Medium Enterprises (MSMEs), Technology, Banking, and the Economy.
The Dangote Petroleum Refinery has revealed intentions to maintain a steady flow of gasoline and diesel throughout Nigeria during the upcoming holiday season.
The firm stated that its present daily output surpasses the country’s usage requirements.
Dangote Refinery surpasses Nigeria’s fuel requirements
In a statement published on Saturday, Anthony Chiejina, the Group Chief Branding and Communications Officer at Dangote Industries Limited, stated that the refinery is generating over 45 million liters of gasoline and 25 million liters of diesel daily.
He stated:
Our manufacturing capability exceeds the country’s demand. We are working with authorities and suppliers to facilitate smooth distribution throughout the nation. Dangote continues to be dedicated to supporting Nigeria.
He mentioned that the increase in local fuel production has helped reinforce the naira by reducing foreign exchange expenditures and increasing local currency inflows.
Speaking about the federal government’s latest tariff policy, Chiejina referred to it as an essential measure to shield local businesses, defending them against unjust trade practices and the influx of imported products.
He cautioned that the practice of dumping eliminates employment opportunities and hampers industrial growth, while urging stronger border and market controls to stop the arrival of low-quality fuel items.
He also commended President Bola Tinubu for backing the tariff system, describing it as a “courageous and progressive approach” designed to attain energy independence and boost economic renewal.
Chiejina warned that without these protective steps, inexpensive imports from Asia and Europe might harm domestic refineries and slow down current energy sector improvements.
Fitted with state-of-the-art refining capabilities, the Dangote plant seeks to eliminate Nigeria’s reliance on imported fuel and ensure consistent pricing across the country.
Reaffirming this dedication, Aliko Dangote, the President of Dangote Industries Limited, pledged to Nigerians that fuel costs would stay consistent during the Christmas and New Year celebrations.
“Nigerians should anticipate a holiday period free from long lines for fuel,” he assured.
Since starting petrol production in September 2024, the refinery has significantly contributed to lowering fuel costs. Previously, petrol was sold at approximately N1,030 per litre, but it now ranges from N841 to N851. Meanwhile, diesel prices have decreased from N1,700 to roughly N1,020 per litre.
For reference, the cost of gasoline in nearby West African nations currently varies from $1.20 to $2.00 per liter.
Dangote anticipates a higher NNPC ownership in the refinery
Meanwhile, ECHOVISATA.ngPreviously, it was reported that Aliko Dangote mentioned the NNPC could raise its 7.2% ownership in the Dangote Refinery once the plant demonstrates its complete operational capability.
The NNPC previously lowered its ownership from 20% to 7.2% in order to concentrate on expanding compressed natural gas (CNG) facilities.
Dangote also announced intentions to offer 5–10% of the refinery’s shares on the Nigerian Stock Exchange while keeping a controlling stake.
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