Africa’s richest man and Chairman of the Dangote Group, Aliko Dangote, announced that Nigeria will no longer need to import gasoline starting next month, following the planned production ramp-up at the Dangote Refinery.
Speaking at the Africa CEO Forum Annual Summit in Kigali on Friday, May 17, 2024, Dangote emphasized the refinery’s capacity to meet West Africa’s petrol and diesel needs, as well as the continent’s aviation fuel demand.
“By sometime in June, Nigeria shouldn’t import anything like gasoline; not one drop of a litre,” he declared.
Dangote outlined the progress made by his refinery and its significant impact on Africa’s energy self-sufficiency. He mentioned that the refinery would supply enough gasoline and diesel for West and Central Africa, and aviation fuel for the entire continent, with potential exports to Brazil and Mexico.
“Today, our polypropylene and our polyethylene will meet the entire demand of Africa,” he added.
Since the refinery’s commissioning in February, it has begun producing jet fuel and diesel, with gasoline production expected to start next month. The refinery’s capacity stands at 650,000 barrels per day, positioning it to not only serve Nigeria but also neighboring regions.
Dangote highlighted the importance of producing finished products locally to create jobs and reduce poverty. He also called for policy consistency and support from African leaders to ensure a conducive environment for trade and investment on the continent.
“Our refinery is quite big… If you look at the whole continent, there are only two countries that don’t import petroleum products, which is a tragedy. They are only Algeria and Libya. The rest are all importers,” he noted.
Despite facing challenges and skepticism, Dangote affirmed his commitment to delivering on the refinery project and urged African entrepreneurs to invest in the continent.
