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President/Chief Executive, Dangote Petroleum Refinery, Aliko Dangote, has stated that the key to growing Africa’s economy is industrialisation which boosts local production and not importation.
The African richest man also declared that since the Dangote refinery began producing petrol a year ago, Nigeria’s five-decade-long struggle with fuel queues has finally come to an end.
Speaking at a conference to mark the first anniversary of the launch of petrol from the 650,000 barrels-per-day refinery, Dangote said; “we have been battling fuel queues since 1975, but today Nigerians are witnessing a new era.”
“The journey has been challenging because we sought to transform the downstream sector in Nigeria. Some believed we were taking food from their tables, which simply isn’t true. What we have done is to make our country and continent proud. Previously, only two African countries were not importing petrol, but regrettably, they have since resumed imports. This is detrimental to Africa.”
Reflecting on the challenges faced during the refinery’s development, Dangote disclosed that the project involved enormous risk as he received repeated warnings from industry experts, investors, local and foreign government officials, who argued that only sovereign nations undertook such large-scale refinery ventures.
“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.
Despite opposition and economic headwinds, the refinery has successfully reduced the price of petrol from nearly N1,100 before production began to N841 in the Southwest, Abuja, Delta, Rivers, Edo, and Kwara. With the gradual rollout of CNG-powered trucks, Dangote anticipates this price reduction will soon be felt nationwide.
He noted that the refinery has sufficient capacity to meet Nigeria’s domestic demand while also generating foreign exchange through exports. He revealed that between June and first week of September 2025, the facility had exported over 1.1 billion litres of Premium Motor Spirit (PMS), underscoring its capacity to meet domestic demand and contribute significantly to foreign exchange earnings.
Emphasising job creation, he stated that the refinery has no intention of displacing workers but is instead generating thousands of new employment opportunities.
“We have not displaced any jobs; we are creating many more. The CNG trucks will not be operated by robots. Our employees earn salaries three times the minimum wage. Our drivers receive a living wage, life insurance, health insurance covering themselves, their spouses, and up to four children, as well as a lifelong pension. We are not only employing drivers but also mechanics, fleet managers, and other professionals to support the CNG fleet.”
Dangote clarified that while the company respects trade unions, membership is a personal choice for each driver.
He reaffirmed his commitment to Nigeria’s industrialisation, describing it as essential for the continent’s development. Dangote emphasised the urgent need for Nigeria to protect its local industries and discourage the dumping of cheap foreign goods, citing the collapse of the once-thriving textile sector as a cautionary example.
“Other nations were not industrialised by outsiders. We must build and industrialise our own economies. Without this, how can others invest? That is why I believe the National Assembly should enact legislation to support the Federal Government’s ‘Nigeria First’ policy. My goal is to see Africa prosper, as we have the fastest-growing population in the world. Relying on imports means exporting jobs and importing poverty. Many individuals with greater financial resources than myself want to invest, but the challenges we face discourage them. Numerous sectors are still in urgent need of industrialisation,” he said
He reiterated that with the introduction of CNG trucks, the refinery can deliver products to consumers anywhere in Nigeria, mitigating all associated risks.
Dangote reiterated that the refinery remains open to partnerships and collaborations with other stakeholders in the downstream sector, stressing that the industry stands to gain more through collective effort and cooperation.
He also clarified that the refinery has no plans to enter the retail market, noting that he declined opportunities to acquire filling stations when they were offered for sale.
Looking ahead, Dangote announced that the refinery’s capacity would be expanded to 700,000 barrels per day in its second year of operation, with the aim of further supporting economic growth and job creation.
He also expressed his gratitude to the Federal Government, the refinery’s partners, dedicated workforce, and the Nigerian public for their continued support. In particular, he commended the Independent Petroleum Marketers Association of Nigeria (IPMAN) for encouraging its members to register for the free distribution initiative utilising CNG-powered trucks.
Dangote also used the occasion to showcase some of the CNG-powered trucks currently loading petrol from the refinery, emphasising that the company will successfully deploy all 4,000 trucks across the country soon.
Meanwhile, he allayed any fears of potential attacks on the drivers or the trucks, stressing that Nigeria is a country governed by the rule of law and that security agencies are fully empowered to protect its citizens and infrastructure.
