The Dangote Petroleum Refinery has announced the successful sale of two cargoes of aviation fuel to Saudi Aramco, the national oil company of Saudi Arabia. This marks a major milestone for the $20 billion Lekki-based refinery, which has been ramping up production since it began operations in 2024.
The President of the Dangote Group, Alhaji Aliko Dangote, disclosed this during a visit by the Nigerian Economic Summit Group (NESG) to the Dangote Fertiliser Limited and the Dangote Petroleum Refinery & Petrochemicals in Ibeju Lekki, Lagos State.
“We are reaching the ambitious goals we set for ourselves, and I’m pleased to announce that we’ve just sold two cargoes of jet fuel to Saudi Aramco,” Dangote said, highlighting that the refinery’s output has now reached 550,000 barrels per day.
During the visit, NESG Chairman, Mr. Niyi Yusuf, urged the Federal Government to support local industries to drive economic growth and help Nigeria reach its $1 trillion economy target. He commended Dangote for his vision in establishing the refinery, fertiliser plant, and petrochemical complex, describing them as monumental investments.
“To achieve a $1 trillion economy, much of that must come from domestic investments,” Yusuf said. He noted that while other countries dredge land for leisure, Dangote dredged 65 million cubic tonnes of sand to create a future for Nigeria.
Yusuf stressed that Nigeria must support its entrepreneurs to become global players, warning against the country’s growing reliance on imported products. “It’s inconceivable that a nation of over 230 million people still depends on imports to feed its citizens,” he said, advocating for a better investment climate to promote industrialisation, job creation, and food security.
Dangote echoed these sentiments, emphasising that a free-market economy should not justify import dependence. He cited developed nations like the U.S. and China, as well as Benin Republic, which restricts cement imports to protect local industries.
“The Benin Republic refuses to allow imports despite my Ibese plant being just 28km away, all to support their local economy,” he said.
He also pointed out that businesses in Nigeria face significant challenges due to inadequate infrastructure, forcing investors to build essential services like power, roads, and ports. Despite these obstacles, he stated that the refinery’s world-class standards and advanced technologies have enabled it to compete globally.
He reiterated that when the private sector thrives, the government benefits, revealing that 52 kobo of every naira Dangote Cement generates goes to the government.
Yusuf and NESG board members toured the refinery and fertiliser plant, praising the level of technology and expertise of young Nigerian engineers managing the facilities. He described Dangote’s achievements as an inspiration for transforming Nigeria from a net importer to a net exporter of petroleum products.
“This refinery represents the audacity of courage,” Yusuf said. “You’ve shown us that nothing is impossible.”
