The Dangote Petroleum Refinery has reiterated its commitment to ensuring a steady and uninterrupted supply of petrol and diesel nationwide. According to Anthony Chiejina, Group Chief Branding and Communications Officer of Dangote Industries Limited, the refinery is currently producing over 45 million litres of petrol and 25 million litres of diesel daily, exceeding Nigeria’s domestic needs.
“We have reduced foreign exchange outflows and increased inflows, which in turn supports the Naira and strengthens the economy,” Chiejina said. “Our refinery is working collaboratively with regulatory agencies and distribution partners to guarantee efficient nationwide delivery.”
Chiejina emphasized that the recent tariff policy announced by the government is designed to protect domestic industries from unfair competition and safeguard local production. “Dumping engenders poverty, discourages industrialization, creates unemployment, and leads to revenue loss for the government,” he stated. “It would be unpatriotic for anyone to criticize the tariff.”
The Dangote Refinery has played a pivotal role in ensuring price stability and reducing the cost of petrol since commencing production in September 2024. Petrol prices have dropped from around ₦1,030 per litre to an average of ₦841-₦851 per litre, while diesel prices have decreased from ₦1,400-₦1,700 per litre to around ₦1,020 per litre.
In comparison, petrol costs more in neighbouring West African countries, ranging from $1.20 to $2.00 per litre, compared to an average price of about $0.60 per litre in Nigeria.
Aliko Dangote, President of Dangote Industries Limited, assured Nigerians that fuel prices would not be hiked during the festive period despite recent global price increases. “I want to assure Nigerians that the Dangote Refinery is fully committed to maintaining an uninterrupted supply of petrol throughout the festive period. Nigerians can look forward to a Christmas and New Year free of fuel anxiety.”
The refinery is expected to significantly eliminate reliance on fuel imports, enhance supply chain stability, and alleviate pressure on foreign exchange reserves. With plans to expand production from 650,000 barrels per day to 1.4 million barrels per day, the Dangote Refinery is poised to become the world’s largest refinery, generating an estimated $55 billion in annual revenue.
