Agency Report
The President of Dangote Petroleum Refinery, Alhaji Aliko Dangote, has stated that the nation’s 50-year battle with fuel queues has come to an end, following one year of petrol production at the company’s 650,000 barrels-per-day facility.
Speaking in Lagos on Monday at a news conference to mark the refinery’s first anniversary of petrol production, Dangote said that Nigerians, who had endured persistent shortages since 1975, were now witnessing “a new era”.
“We have been battling fuel queues since 1975, but today Nigerians are seeing real change,” he said.
Dangote revealed that the project was fraught with risks, noting that lenders could have seized his assets had it failed.
He recalled how investors, industry experts, and foreign officials doubted its feasibility because of the belief that only sovereign nations could execute such massive infrastructure.
“Some thought we were taking food off their tables. That is not true. What we’ve done is to make Nigeria and Africa proud,” he said.
The refinery has already helped stabilise petrol prices, with pump prices dropping from nearly N1,100 per litre before operations began to about N841 in the South West, Abuja, Delta, Rivers, Edo, and Kwara states.
To further cut costs, Dangote said 4,000 CNG-powered trucks were being deployed nationwide, a move expected to create at least 24,000 jobs.
“We’ve not displaced anyone. These trucks will not be driven by robots,” he added.
He stressed that employees enjoy robust welfare packages, including comprehensive health insurance for spouses and up to four children, life insurance, and lifetime pensions.
On industrialisation, Dangote urged the National Assembly to back the Federal Government’s “Nigeria First” policy with enabling laws, warning that dumping of cheap foreign goods undermines local industries.
“Other countries didn’t become industrialised by outsiders.
Imports export jobs and import poverty. We must build our own economy,” he said.
Dangote announced plans to expand refining capacity to 700,000 barrels per day in the facility’s second year.
According to him, this will position Nigeria as Africa’s refining hub, the world’s leading polypropylene exporter, and a major fertiliser supplier.
He ruled out venturing into retail fuel distribution in spite of offers to acquire filling stations.
The industrialist stressed that the refinery’s focus was on partnerships and wholesale supply.
Dangote expressed gratitude to the Federal Government, industry partners, workers, and Nigerians for their support.
He commended the Independent Petroleum Marketers Association of Nigeria for embracing the free fuel distribution initiative via CNG trucks.
Reassuring Nigerians on security, he said, “This country is governed by the rule of law. Security agencies are fully empowered to protect lives and infrastructure.”
While showcasing some of the newly commissioned CNG trucks already loading fuel at the facility, he reaffirmed his commitment to “adding value, creating jobs, and building a stronger Nigerian economy”.
NAN
