The Dangote Petroleum Refinery has recently exported two jet fuel cargoes to Saudi Aramco, the national oil company of Saudi Arabia and the world’s largest oil producer.
President of Dangote Group, Aliko Dangote, revealed this on Tuesday during a visit by the Nigerian Economic Summit Group (NESG) team to both Dangote Fertiliser Limited and the Dangote Petroleum Refinery & Petrochemicals in Ibeju Lekki, Lagos.
“We are reaching the ambitious goals we set for ourselves, and I’m pleased to announce that we’ve just sold two cargoes of jet fuel to Saudi Aramco,” he said.
Dangote said attracting Saudi Aramco and other big companies in the global market is a testament to the world-class status of his refinery.
The Africa’s richest man said the Dangote refinery has steadily increased its output since it started operation in 2024, and it has now reached a capacity of 550,000 barrels per day.
Nairametrics reported that the mega refinery set a goal of reaching its full capacity of 650,000 bpd by the end of the first half of 2025.
FG Should Support Domestic Industries to Achieve $1 Trillion Economy – NESG
NESG Chairman, Mr. Niyi Yusuf commended Aliko Dangote for establishing the world’s largest single-train refinery worth $20 billion in Nigeria.
He said the country needs more investments of this magnitude to reach its $1 trillion economy goal.
“To achieve a $1 trillion economy, much of that must come from domestic investments. I joked during the bus ride that while others are dredging to create islands for leisure, you’ve dredged 65 million cubic tonnes of sand to create a future for the country.
“This refinery, fertiliser plant, petrochemical complex, and supporting infrastructure are monumental.
“My hope is that God grants you the strength, courage, and health to realise your ambitions and that in your lifetime, a new Nigeria will emerge,” he said.
Yusuf stressed that such local industries are essential to Nigeria’s industrialisation and will help foster the growth of Small and Medium Enterprises (SMEs).
He added that the NESG would continue to advocate for an improved investment climate to attract entrepreneurs, boost development, ensure food security, and address insecurity.
FG must support domestic companies
Yusuf expressed displeasure that Nigeria has become a dumping ground for foreign products, calling on the Federal Government to support entrepreneurs in the country and help them become global players.
“It’s inconceivable that a nation of over 230 million people, with an annual birth rate higher than the total population of some countries, is still dependent on imports to feed its citizens,” he noted.
The Chairman praised Dangote’s bold vision for making Nigeria self-sufficient in refined petroleum products.
“The NESG is grateful, and I believe the nation is as well. This refinery represents the audacity of courage. It takes immense effort to do what you’ve done and still be standing and smiling. Thank you for inspiring us and showing that nothing is impossible.
“You’ve transformed Nigeria from a net importer of petroleum products to a net exporter. We’ve all read Think Big, but this is truly about thinking big. The message is clear: the private sector can bring about real change.”
Dangote, in his response, stressed the importance of the private sector in national development, asserting that Nigeria’s challenges could largely be overcome by providing gainful employment to its people.
He cautioned against unchecked importation in the guise of a free market, highlighting that both developed and developing nations, including the USA and China, actively protect their domestic industries to safeguard jobs and promote self-sufficiency.
Dangote also cited the example of the Benin Republic, where cement imports are restricted as part of a deliberate strategy to protect local industries, despite the proximity of his Ibese plant.
“The President is a personal friend, and my Ibese plant is just 28km from Benin, yet they refuse to allow imports to protect their local industries, most of which are grinding plants,” he remarked.
What you should know
- Nairametrics reported that the Dangote Petroleum Refinery has disrupted the global supply chain of petrol, threatening the survival of refineries in the U.S. and Europe.
- It is exporting Premium Motor Spirit (PMS), Diesel and Jet fuels to various countries across Africa and Europe.
- The Refinery produces enough to meet local demands, but the importation of petroleum products continues. Nairametrics has consistently reported the ongoing legal battle between Dangote and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over the continued importation of fuels.
