ABUJA — President/Chief Executive of Dangote Petroleum Refinery, Aliko Dangote, has declared that Nigeria’s long-standing struggle with fuel scarcity and queues has come to an end following one year of petrol production at his 650,000 barrels-per-day refinery.
Speaking at a conference on Tuesday to mark the refinery’s first anniversary since it began producing petrol on September 3, 2024, Dangote said Nigerians are entering a “new era” after decades of hardship.
“We have been battling fuel queues since 1975, but today Nigerians are witnessing a new era,” Dangote stated.
Reflecting on the project’s challenges, he revealed that he faced resistance from investors, industry experts, and even government officials, who warned that only sovereign states could undertake a refinery of such magnitude. He admitted that failure would have cost him all his assets.
“The decision to build the refinery was not easy. If it had gone wrong, lenders would have taken our assets. But we believed in Nigeria and Africa,” he said.
Since production began, petrol prices have dropped from nearly ₦1,100 per litre to ₦841 in Abuja, the Southwest, Rivers, Delta, Edo, and Kwara States. Dangote said the deployment of 4,000 CNG-powered trucks would soon bring further relief nationwide.
Beyond meeting domestic demand, the refinery has already exported over 1.1 billion litres of Premium Motor Spirit (PMS) between June and September 2025, contributing significantly to Nigeria’s foreign exchange earnings.
Dangote also highlighted the refinery’s job creation impact, assuring that rather than displacing workers, the project is generating thousands of employment opportunities.
“Our employees earn salaries three times the minimum wage. Our drivers have life insurance, health insurance for themselves and their families, and a lifelong pension. The CNG fleet will also create jobs for drivers, mechanics, fleet managers, and other professionals,” he noted.
Emphasising industrialisation as the backbone of economic growth, Dangote urged Nigeria to protect its local industries from the dumping of cheap foreign products, warning that over-reliance on imports translates to “exporting jobs and importing poverty.”
He called on the National Assembly to enact legislation in support of the Federal Government’s “Nigeria First” policy, stressing that Africa’s economic future depends on homegrown industrialisation.
“My goal is to see Africa prosper. We have the fastest-growing population in the world, but without industrialisation, others will not invest in us,” Dangote said.
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