- Dangote warns that Nigeria should not be importing fuel when crude is available.
- Oil companies divert Nigerian crude to foreign traders at premium rates.
- Dangote asks government to enforce crude supply laws and protect local refineries.
- Refinery plans 1.5bn litres petrol supply to ease fuel availability.
President of Dangote Industries Limited, Aliko Dangote, says there is no justification for Nigeria to rely on imported fuel when the country has sufficient crude capacity and a legal framework that supports domestic refining.
Dangote spoke during the visit of the South South Development Commission (SSDC) to the Dangote Refinery and Fertiliser Complex in Lagos, where he criticised the crude supply practices of international oil companies. According to him, major operators deliberately ship Nigerian crude oil to their trading subsidiaries abroad, especially in Switzerland, forcing local refineries to buy from them at additional costs.
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“The crude is available. It is not a matter of shortage. But the companies move everything to their trading arms, and we are forced to buy at a premium. Meanwhile, we do not receive any premium for our own products,” he said.
He explained that while the Petroleum Industry Act (PIA) gives preference to domestic supply, oil companies continue to take advantage of loopholes at the expense of Nigerian refiners.
Dangote said the Nigerian National Petroleum Company Limited (NNPC) remains the only supplier that regularly respects domestic crude supply agreements, providing between five and six cargoes monthly. However, the refinery needs about 20 cargoes from January to achieve full operational capacity.
Calling the situation “untenable for a country pursuing industrial development,” Dangote said African economies must shift from exporting raw products to creating value locally. He noted that the refinery exported 1.5 million tonnes of gasoline in June and July, yet imported products continued to flood the market due to weak regulatory enforcement.
He reacted to a recent report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) which said the refinery supplied only 17.08 million litres of petrol out of the 56.74 million litres consumed in October. According to Dangote, refineries will continue exporting if regulators allow import dumping.
The industrialist announced that the refinery will supply 50 million litres of petrol per day during the Christmas season, 1.5 billion litres in December and another 1.5 billion litres in January 2026.
He praised President Bola Tinubu’s Nigeria First policy but said it must be backed by strong legislation. Dangote added that Nigeria’s ambition of becoming a $1 trillion economy is possible if the country strengthens manufacturing, increases power generation and revives the steel sector.
“You cannot build a nation without power and steel. Every bolt and nut used here was imported. That should not be the case,” he said.
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Dangote also revealed plans for agricultural partnerships with the SSDC, including soil testing and customised fertiliser blends. He noted that many farmers record low yields because they use the wrong fertiliser.
He further dismissed the argument that electric vehicles will replace petroleum products in Africa anytime soon.
“People talk about electric vehicles, but six hundred million Africans do not have power for their fridge. Oil remains essential because over six thousand products come from it,” he said.
Dangote assured that the refinery will continue to support Nigeria’s economic growth and position the country as a net exporter of refined products and petrochemicals.
