President of the Dangote Group, Alhaji Aliko Dangote, has declared that Nigeria’s long history of fuel queues “is gone forever,” assuring that petrol supply will remain stable throughout the Christmas season and beyond.
Gatekeepers News reports that speaking to journalists after meeting President Bola Tinubu at the State House in Abuja on Friday, Dangote said the Dangote Refinery has informed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of its capacity to supply 50 million litres of Premium Motor Spirit (PMS) daily, far exceeding national consumption.
“Historically, Nigeria has battled fuel queues since 1972. For the first time, we are eliminating those queues, not through imports but by producing locally,” he said.
“Even when we were servicing the refinery, there were no queues. I can assure you that queues are now history.”
Dangote added that neighbouring countries will also benefit from the refinery’s output. By February, he said, the plant will be producing 15 to 20 million litres more than Nigeria consumes, necessitating exports.
“So, we must export. Even our neighbours won’t experience queues because they can buy from us,” he said.
He noted that domestic manufacturers, especially in the plastics industry, which previously spent up to $400 million annually on imports, will now have full access to local feedstock.
Expansion Plans
Dangote unveiled plans to expand refinery capacity to 1.4 million barrels per day by 2028, surpassing India’s Reliance refinery, the world’s largest at 1.25 million barrels per day.
“We have already signed the necessary agreements. Construction piling begins before the end of January, and we will deliver on schedule,” he said.
He also announced intentions to increase urea production to 12 million tonnes annually, positioning Nigeria as the world’s leading producer ahead of Russia and Qatar.
“Our goal is to use our fertiliser company to supply the entire African continent,” he added.
On Falling Fuel Prices
Responding to questions on the recent decline in petrol and diesel prices, Dangote attributed the trend to increased competition and reduced smuggling.
“Prices are going down because we must compete with imports. Luckily, smuggling has dropped significantly, though not completely,” he said.
He emphasised that the refinery is a long-term investment rather than a quick profit project.
“We’re not here to recover $20 billion overnight… The legacy I want to leave is that whatever Nigerians need — fuel, fertiliser, power — we will be part of delivering it.”
Challenges in Solid Minerals and Infrastructure
Dangote highlighted bottlenecks in Nigeria’s solid minerals sector, particularly port congestion.
“Apapa is full. Tin Can is full. Lekki is mainly for containers. You cannot export coal or copper if you have nowhere to ship from,” he said.
To address this, the Dangote Group is developing West Africa’s largest deep-sea port at Olokola, expected to be completed in two to two-and-a-half years.
Support for Government Policies
Dangote expressed strong support for the Tinubu administration’s naira-for-crude initiative, describing it as a patriotic policy, though he acknowledged initial resistance from international oil companies.
“It’s a teething problem, but it will be resolved, either through legislation or administrative action,” he said.
On competition, he dismissed fears that the refinery could struggle against global players.
“What we want is to make Nigeria the refining hub of Africa… We want what we consume to be produced here,” he stated.
He also backed the government’s Nigeria-first industrial policy, warning that over-reliance on imports “is simply importing poverty and exporting jobs.”
Dangote urged wealthy Nigerians to invest in productive industries rather than luxury consumption.
“If you have money for a private jet, invest in industries and create jobs,” he said.
He acknowledged past obstacles such as policy inconsistency, smuggling and factory closures, but expressed optimism that Nigeria now has a viable pathway to sustainable industrial growth.
“Domestic investors must lead the way. Once they do, foreign investors will follow. Nobody advertises a good restaurant; when the food is good, word spreads,” he said.
Regarding his meeting with President Tinubu, Dangote described it as a routine engagement.
“It was just a normal courtesy visit… a very fruitful meeting,” he added.
