President of Dangote Industries Limited (DIL), Aliko Dangote, has assured that the Dangote Petroleum Refinery has sufficient Premium Motor Spirit (PMS), commonly known as petrol, in storage to meet Nigeria’s domestic demand.
Speaking over the weekend, Dangote disclosed that the refinery currently holds more than half a billion litres of petroleum products, valued at over N600 billion.
He stated, “…as we speak right now we have more than half a billion litres. The Refinery is producing enough refined products, like gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements.”
Dangote emphasized that the refinery project is not solely for Nigeria but serves the African continent as well. He said, “This refinery is not only for Nigeria; it is for Africa. We must sustain the African Continental Free Trade Area (AfCFTA) deal. We are trying to see how we trade with other African countries.”
His remarks followed a tour of the refinery complex by a delegation from Zambia, led by the country’s Minister of Energy, Mr. Makozo Chikote. The visit was aimed at exploring potential collaborations in the energy sector.
After the tour, Chikote commended Dangote’s vision, saying, “In Zambia, we created an environment for the private sector to participate in the growth and development of our country. Currently, 100 per cent of our petroleum is done by the private sector. We are targeting increased productivity in mining, agriculture, and other sectors. Your presentation is an immediate solution to our energy needs. We are trying to promote competition among our private players.”
He further stated, “We are looking at Dangote coming on board, which would lead to efficient, reliable, quality, and competitive products, and we want these done like yesterday.”
Expressing optimism about intra-African trade, Chikote added, “From what we have seen, we need to promote trade within Africa to promote each other. We need these countries together to make Africa efficient, and a reliable trade hub. We have seen here that we can learn from what Dangote has done, and this would lead Africa and Africans to stand on their feet and not depend on overseas support in terms of trade.”
Another member of the Zambian delegation, Samuel Maimbo, Vice President of Budget, Performance Review, and Strategic Planning at the World Bank Group, echoed similar sentiments, emphasizing the need for private-sector-led development.
“There is also not enough government funding to develop Africa. The only way we can finance Africa’s growth at a pace and scale that solves our problem is by working through the private sector, which is why we are here today, to learn and to see what an ambitious programme looks like,” he stated.
Speaking on the refinery’s production capacity, the Vice President of Dangote Industries Limited, Edwin Devakumar, highlighted its ability to produce high-quality refined products.
“The project concept was to process the crude from Nigeria and add value. But we also wanted to provide some flexibility to process most of the African crudes and some of the Middle Eastern crudes,” he said.
Devakumar explained, “In another concept, what we did was maximum value extraction. That is a process where every barrel of crude which goes in, the value addition should be the best.”
According to him, the refinery is well-positioned to supply both local and international markets. “The Refinery can meet all our requirements. 44 per cent can meet the entire requirements of Nigeria, and 56 per cent of the production would be exported. Every day, we produce lighter products of 104 million litres; 57 million litres of petrol every day; 20 million litres of jet fuel; and 27 million litres of diesel production.”
He further noted, “The local consumption is just around 46 million litres, and the remaining 58 million litres will be exported daily.”
The visit by the Zambian delegation underscores the growing recognition of Dangote Refinery’s role in Africa’s energy landscape and the potential for greater intra-African trade in the petroleum sector.
