Dangote Refinery boasts 500 Million litres of petrol, says there’s enough fuel to meet Nigerians’ need

The President of the Dangote Group, Alhaji Aliko Dangote, has disclosed that the Dangote Petroleum Refinery currently holds over 500 million litres of petrol in its storage facilities, assuring that the refinery is now producing enough fuel to meet Nigeria’s local demand and for export.

Dangote made this known on Saturday during a tour of the $20 billion Lekki-based refinery with Zambia’s Minister for Energy, Makozo Chikote. The Zambian official visited the facility to explore potential collaboration in addressing Zambia’s energy security concerns.

Full Production Capacity Expected Next Month

Speaking during the tour, Dangote revealed that the refinery has about ₦600 billion worth of refined products in its tank farm and will reach its full 650,000 barrels per day production capacity by March 2025.

“We can satisfy more than Nigeria’s local needs. Currently, we have over half a billion litres of petrol and a total stock worth more than ₦600 billion. The refinery is now producing sufficient gasoline, diesel, and kerosene to meet 100 per cent of Nigeria’s fuel demand,” Dangote stated.

He also disclosed that arrangements are being made to secure a steady crude oil supply to ensure seamless operations.

Unmatched Fuel Quality and Global Impact

Dangote boasted that no refinery in Africa or even Europe could match the quality of fuel produced by the Dangote Refinery. He explained that the facility produces fuel with zero parts per million sulphur content and an octane rating of 95, making it superior to many global refineries.

“Our refinery can produce winter diesel, Euro-5 standard fuel, and other high-quality products. Many refineries in Europe are shutting down because they cannot compete with our production,” he said.

Export Strategy: 60% of Output for International Markets

According to Dangote, only 40% of the refinery’s total output will be consumed locally, while 60% will be exported, particularly to African countries. He revealed that discussions were ongoing with Afreximbank to resolve financing challenges related to letters of credit for fuel transactions.

“We are making arrangements with banks to ensure most of our products stay within Africa, making this a truly African refinery. The main challenge is financing through letters of credit, but we are working with Afreximbank to resolve that,” he added.

Refinery’s Daily Production Output

Dangote Group’s Vice President, Davakumar Edwin, highlighted the refinery’s strategic location near the sea and its ability to meet all local fuel needs.

According to him, the refinery currently produces:

57 million litres of petrol per day

20 million litres of aviation fuel per day

37 million litres of diesel per day

With Nigeria consuming about 46 million litres of fuel daily, the refinery will export 58 million litres daily.

Zambia Seeks Dangote’s Support for Energy Security

During the visit, Zambia’s Energy Minister, Makozo Chikote, called for Dangote’s involvement in Zambia’s energy sector to enhance the country’s fuel security and pricing competitiveness.

“We depend largely on fuel imports through Tanzania, leading to congestion and supply delays. We want to partner with Dangote to ensure a reliable, affordable, and efficient fuel supply for Zambia,” Chikote said.

He emphasized the need for stronger African collaboration in trade and energy security, urging African nations to reduce dependence on external markets.

Dangote reassured that the refinery is not just for Nigeria but for Africa, adding that the project aligns with the African Continental Free Trade Agreement (AfCFTA) to promote intra-African trade.

With full capacity operations expected by next month, the Dangote Refinery is set to transform Nigeria’s energy sector, reduce fuel imports, and establish itself as a major fuel supplier across Africa.