The Dangote Petroleum Refinery has successfully exported two cargoes of jet fuel to Saudi Aramco, the world’s largest oil producer and Saudi Arabia’s national oil company.
Aliko Dangote, President of Dangote Group, disclosed this during a visit by the Nigerian Economic Summit Group (NESG) to Dangote Fertiliser Limited and Dangote Petroleum Refinery & Petrochemicals in Ibeju Lekki, Lagos.
“We are achieving our ambitious targets, and I am pleased to announce that we have sold two cargoes of jet fuel to Saudi Aramco,” Dangote stated.
He described the deal as a significant milestone, reinforcing the refinery’s global competitiveness and its ability to attract major international buyers.
Dangote Refinery’s Growing Output and Expansion Plans
Since commencing operations in 2024, the Dangote Refinery has steadily ramped up production, reaching a current refining capacity of 550,000 barrels per day (bpd). The refinery aims to hit full capacity of 650,000 bpd by the end of the first half of 2025.
NESG Advocates for More Local Investments
NESG Chairman, Niyi Yusuf, praised Dangote’s $20 billion refinery, emphasizing its critical role in Nigeria’s economic transformation.
“To achieve a $1 trillion economy, we need large-scale domestic investments like this refinery, fertiliser plant, and petrochemical complex,” Yusuf said.
He stressed that supporting local industries is essential for Nigeria’s industrialization, job creation, and economic self-sufficiency. The NESG pledged to advocate for a better investment climate, aiming to boost local production, improve food security, and address insecurity.
Call for Government Support to Local Entrepreneurs
Yusuf criticized Nigeria’s continued dependence on imported products, urging the Federal Government to prioritize and protect local businesses.
“It’s unacceptable that a country with over 230 million people still relies heavily on imports for essential goods,” he said.
He commended Dangote for positioning Nigeria as a net exporter of refined petroleum products, transforming the country’s energy landscape.
Dangote Advocates Industrial Protection Policies
In response, Aliko Dangote underscored the private sector’s role in national development and warned against unchecked imports.
He noted that major economies like the USA and China actively protect domestic industries, and urged Nigeria to adopt similar strategies to safeguard local businesses and jobs.
Dangote cited Benin Republic’s strict policies on cement imports, despite its proximity to his Ibese cement plant, as an example of how government intervention can support local production.
Dangote Refinery’s Global Disruption
The Dangote Petroleum Refinery has reshaped the global fuel supply chain, affecting refineries in the U.S. and Europe. It now exports Premium Motor Spirit (PMS), Diesel, and Jet Fuel to various African and European markets.
Despite its capacity to meet local demand, Nigeria continues to import petroleum products. The Dangote Group remains in a legal dispute with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over continued fuel importation.
With its growing global presence, the Dangote Refinery is set to further strengthen Nigeria’s position in the international energy market while driving domestic industrial growth.
