THE PRESIDENT and Chief Executive of Dangote Industries Limited, Alhaji Aliko Dangote, has stated that Nigeria possesses sufficient domestic refining capacity to end its dependence on imported petroleum products.
He made these remarks during a visit by the South-South Development Commission (SSDC) to the Dangote Petroleum Refinery and Fertiliser Complex in Lagos.
Dangote criticised current crude supply practices, asserting that international oil companies are exploiting regulatory shortcomings.
He highlighted that these companies frequently divert Nigerian crude to overseas trading subsidiaries, forcing local refineries like his own to repurchase it at a premium of $4 to $5 per barrel.
“The crude is available. It is not a matter of shortage,” Dangote stated. “But the companies move everything to their trading arms, and we are forced to buy at a premium.”
He revealed he has petitioned the Federal Government to align royalty and tax assessments with the actual sale price of crude to curb this practice and protect national revenue.
While acknowledging the Nigerian National Petroleum Company (NNPC) as a reliable supplier, Dangote noted his refinery requires approximately 20 crude cargoes monthly for optimal operation but currently receives only 5-6 from NNPC.
He described the simultaneous export and import of refined products as “dumping” and “unsustainable for a country intent on genuine industrial growth.”
In response to data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showing his refinery supplied a portion of October 2025’s consumption, Dangote clarified that the refinery will export products if the domestic market is saturated by imported alternatives.
He pledged significant supply increases for the upcoming festive season, targeting 50 million litres of petrol daily in December 2025 and January 2026.
Dangote expressed support for President Tinubu’s “Nigeria First Policy” but emphasised the necessity of legislative backing to ensure its efficacy.
He argued that Africa’s economic future hinges on value addition and that Nigeria should lead this transition.
Looking beyond refining, Dangote identified reliable power and a revived steel sector as critical foundations for achieving a trillion-dollar economy.
He also outlined potential collaboration with the SSDC on agricultural initiatives, including advanced soil testing and customised fertiliser programmes to boost farm productivity.
Dangote reaffirmed the refinery’s role in supporting national economic growth, stressing that petroleum products will remain essential for Africa due to ongoing energy access challenges.
