By Abiola Olawale
Africa’s richest man and President/Chief Executive, Dangote Petroleum Refinery, Aliko Dangote, has declared an end to what he described as Nigeria’s decades-long nightmare of fuel queues.
This is as Dangote maintained that his $20 billion mega-refinery, operational since September 3, 2024, has transformed the nation’s energy landscape, eliminating chronic shortages that plagued motorists and businesses since 1975.
Dangote, President and Chief Executive of the Dangote Group, announced this during a high-profile conference in Lagos.
According to him, Dangote Refinery did not only stabilize domestic supply but also positioned Nigeria as a potential exporter of refined products.
He said: “We have been battling fuel queues since 1975, but today Nigerians are witnessing a new era.
“The journey has been challenging because we sought to transform the downstream sector in Nigeria. Some believed we were taking food from their tables, which simply isn’t true. What we have done is to make our country and continent proud. Previously, only two African countries were not importing petrol, but regrettably, they have since resumed imports. This is detrimental to Africa.
“The decision to build the refinery was not easy. If it had gone wrong, lenders would have taken our assets. But we believed in Nigeria and Africa.”
Despite opposition and economic headwinds, the refinery has successfully reduced the price of petrol from nearly N1,100 before production began to N841 in the South West, Abuja, Delta, Rivers, Edo, and Kwara.
With the gradual rollout of CNG-powered trucks, Dangote said he anticipates that this price reduction will soon be felt nationwide.
He noted that the refinery has sufficient capacity to meet Nigeria’s domestic demand while also generating foreign exchange through exports. He revealed that between June and the first week of September 2025, the facility exported over 1.1 billion litres of Premium Motor Spirit (PMS), underscoring its capacity to meet domestic demand and contribute significantly to foreign exchange earnings.
The deployment of 4,000 CNG-powered trucks is expected to create at least 24,000 jobs across Nigeria, Dangote added.
“We have not displaced any jobs; we are creating many more. The CNG trucks will not be operated by robots,” he said. “Our employees earn salaries three times the minimum wage. Our drivers receive a living wage, life insurance, health insurance covering themselves, their spouses, and up to four children, as well as a lifelong pension. We are not only employing drivers but also mechanics, fleet managers, and other professionals to support the CNG fleet.
“Other nations were not industrialised by outsiders. We must build and industrialise our own economies. Without this, how can others invest? That is why I believe the National Assembly should enact legislation to support the Federal Government’s ‘Nigeria First’ policy. My goal is to see Africa prosper, as we have the fastest-growing population in the world. Relying on imports means exporting jobs and importing poverty. Many individuals with greater financial resources than I want to invest, but the challenges we face discourage them. Numerous sectors are still in urgent need of industrialisation,” he said.
