Aliko Dangote, President/CEO of Dangote Petroleum Refinery, has declared that Nigeria’s five-decade battle with fuel queues has ended since the refinery began producing petrol on September 15, 2024. Speaking at a press conference marking the refinery’s first anniversary, Dangote said the facility rescued Nigeria from paying $11bn in demurrage and now meets the nation’s daily PMS demand.
The 650,000 bpd refinery, with plans to expand to 700,000 bpd by 2026, has reduced petrol prices from nearly ₦1,100 to ₦841 per litre in the South-West and ₦851 in Abuja, Rivers, Delta, Edo, and Kwara. Between June and early September 2025, the refinery exported 1.1 billion litres of petrol, boosting foreign exchange earnings. Its rollout of 10,000 CNG-powered trucks, 4,000 of which are already deployed; represents a ₦720bn investment projected to save Nigerians ₦1.7tn annually.
The refinery is creating 24,000 jobs through CNG truck operations while paying drivers and staff three times the minimum wage with pensions, life, and health insurance. It has positioned Nigeria as Africa’s refining hub, with ambitions to become the largest producer of polypropylene, fertiliser, and cement exports generating over $500m from 2026. Dangote also announced plans to invest in Electric Vehicles (EVs) by January 2026. He urged legislation to protect local industries, stressing that industrialisation, not imports, is key to Africa’s prosperity.
