The Dangote Petroleum Refinery has assured Nigerians that it has enough fuel to meet the country’s needs and supply other nations. The President of the Dangote Group, Alhaji Aliko Dangote, disclosed that the refinery currently holds over 500 million liters of petrol in its storage tanks.
Speaking during a facility tour with Zambia’s Minister of Energy, Makozo Chikote, Dangote noted that the refinery, located in Lekki, Lagos, has a stock worth N600 billion. He also revealed that the plant is set to reach its full production capacity of 650,000 barrels per day by next month.
“We can satisfy more than the local needs of Nigeria. As we speak, we have more than half a billion litres (of petrol). We have more than N600bn worth of stocks here today in the refinery. We have more than enough. The refinery is producing enough refined products, like gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements,” he stated.
Dangote further explained that arrangements were in place to secure a stable crude oil supply, which would enable the refinery to operate at maximum capacity. He also noted that Nigeria consumes only 40% of the refinery’s total production, with the remaining 60% set for export, mainly to African countries.
The refinery is said to have a competitive edge due to its ability to produce high-quality fuel with low sulfur content. Dangote noted that no other refinery in Africa or even parts of Europe can match the quality of fuel produced at his facility. He also mentioned that global fuel regulations are constantly changing, but the refinery is equipped to meet even the strictest standards.
“In terms of quality, there is actually no refinery in Africa, even in Europe that can produce our type of quality. We want to be flexible, you know the laws keep changing,” he added.
The refinery is strategically located near the sea, making it easier to transport fuel to different parts of the world. The Vice President of Dangote Group, Davakumar Edwin, noted that the refinery has the capacity to produce 104 million liters of various petroleum products daily, including petrol, diesel, and aviation fuel. Data from the refinery’s tank farm shows that it has large storage facilities, with 12 tanks dedicated to storing up to 600 million liters of petrol, 17 tanks for 408 million liters of aviation fuel, and 14 tanks for 340 million liters of diesel.
Zambia’s Energy Minister, Makozo Chikote, expressed interest in collaborating with the Dangote refinery to improve Zambia’s fuel supply and reduce its dependence on imports from Tanzania. He stated that his country faces energy security challenges and is looking at partnerships that will bring reliable and competitively priced fuel to Zambia.
Chikote also emphasized the need for African countries to work together to strengthen trade and economic ties. He noted that by supporting regional businesses like the Dangote Refinery, Africa can become more self-sufficient and less reliant on external markets.
Dangote reassured the Zambian delegation that the refinery was not built solely for Nigeria but for the entire African continent. He emphasized the importance of the African Continental Free Trade Area (AfCFTA) agreement, stating that his company aims to expand trade opportunities across Africa.
“This refinery is not only for Nigeria; it is for Africa. We must sustain the African Continental Free Trade Area deal. We are trying to see how we trade with other African countries,” he said.
