We have over N600bn worth of petrol in store ― Dangote
…As Zambia seeks Dangote investment in its energy sector
By Patience Ikpeme
Dangote Petroleum Refinery has amassed a substantial stockpile of Premium Motor Spirit (PMS), ensuring Nigeria’s domestic fuel needs are met.
This is according to Aliko Dangote, President of Dangote Industries Limited (DIL) who revealed that the refinery currently holds “more than half a billion litres of petroleum and over 600 billion Naira worth of products in its tanks,” emphasizing the refinery’s capacity to meet “100 per cent of Nigeria’s requirements” for gasoline, diesel, and kerosene.
Dangote made these remarks during a tour of the refinery complex by a Zambian government delegation, led by Minister of Energy, Mr. Makozo Chikote. He stressed the refinery’s pan-African vision, stating, “This refinery is not only for Nigeria; it is for Africa. We must sustain the African Continental Free Trade Area (AfCFTA) deal. We are trying to see how we trade with other African countries.”
Minister Chikote expressed his delegation’s profound satisfaction with the tour, highlighting Dangote’s “bigger picture for Africa.” He noted that Zambia, which relies entirely on private-sector petroleum operations, seeks to partner with Dangote to address its energy needs. “Your presentation is an immediate solution to our energy needs,” Chikote stated, emphasizing the desire for “efficient, reliable, quality, and competitive products” from Dangote.
The Zambian delegation, which included Samuel Maimbo, Vice President of Budget, Performance Review, and Strategic Planning at the World Bank Group, toured the expansive refinery complex, including the Single Point Mooring, Dangote Jetty, and Africa’s largest fertilizer plant. Maimbo, who is campaigning for the presidency of the African Development Bank (AfDB), stressed the critical role of the private sector in Africa’s development. “The only way we can finance Africa’s growth at a pace and scale that solves our problem is by working through the private sector,” he said.
Edwin Devakumar, Vice President of Dangote Industries Limited, detailed the refinery’s production capacity and quality-focused strategy. “The project concept was to process the crude from Nigeria and add value. But we also wanted to provide some flexibility to process most of the African crudes and some of the Middle Eastern crudes,” he explained.
He further elaborated on the refinery’s output, stating, “Every day, we produce lighter products of 104 million litres; 57 million litres of petrol every day; 20 million litres of jet fuel; and 27 million litres of diesel production.” Devakumar highlighted that “44 per cent can meet the entire requirements of Nigeria, and 56 per cent of the production would be exported,” with “local consumption just around 46 million litres, and the remaining 58 million litres will be exported daily.”
The Zambian delegation’s visit underscores Dangote Refinery’s strategic importance in Africa’s energy landscape. The focus on intra-African trade and private-sector partnerships signals a growing recognition of the need for self-reliance and regional cooperation in addressing the continent’s development challenges. The refinery’s substantial fuel reserves and export capacity position it as a key player in ensuring energy security and driving economic growth across Africa.
