Dangote: Nigeria Can Meet Its Fuel Needs, No Need for Imports

Aliko Dangote, President and Chief Executive of Dangote Industries Limited, has criticised the crude supply practices of international oil companies, insisting that Nigeria has no reason to import crude or refined petroleum products if existing laws are properly enforced.

During a visit by the South South Development Commission (SSDC) to the Dangote Petroleum Refinery and Fertiliser Complex in Lagos, Dangote highlighted that the Petroleum Industry Act (PIA) already sets a framework prioritising domestic crude supply. However, he noted that some operators exploit loopholes, undermining the law’s intent. He explained that many oil companies routinely divert Nigerian crude to their trading subsidiaries abroad, especially in Switzerland, forcing local refineries to buy from these subsidiaries at a premium of four to five dollars per barrel.

“The crude is available; it’s not a shortage issue. But the companies divert everything to their trading arms, and we are forced to buy at higher prices, while we don’t benefit from any premium on our own products,” Dangote said.

He revealed that he has formally written to the Federal Government, urging that royalties and taxes be calculated based on the actual price paid for crude, to prevent revenue losses and discourage practices that disadvantage local refiners.

Dangote noted that NNPC remains the main supplier fulfilling domestic supply obligations, providing five to six cargoes per month, while the refinery needs up to twenty cargoes monthly from January to operate at full capacity.

Describing the situation as “unsustainable for a country seeking genuine industrial growth,” he argued that Africa’s economic future depends on value addition rather than continuous raw material export.

“It is alarming that while we exported 1.5 million tonnes of gasoline in June and July, imported products were still flooding the country. That is dumping,” he said. Responding to a report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) showing the refinery supplied only 17.08 million litres of the 56.74 million litres consumed in October 2025, Dangote stated that the refinery exports its products when regulators allow such dumping.

He pledged that the refinery would supply 50 million litres of petrol daily during the Yuletide season, with a total of 1.5 billion litres planned for December 2025 and another 1.5 billion litres for January 2026.

Dangote praised President Bola Tinubu’s Nigeria First Policy but emphasised the need for legislative support to strengthen its impact. He said the president is committed to positioning Nigeria as a leader in Africa’s shift from raw material export to value-added production, job creation, and sustainable economic growth.

He added that the company’s expansion strategy aligns with Africa’s rising demand for petroleum products, estimated at around four million barrels per day, while regional refining capacity remains below 1.5 million barrels.

Addressing Nigeria’s ambition to achieve a one-trillion-dollar economy, Dangote said the goal is achievable through disciplined policy implementation, improved power generation, and revitalisation of the steel sector.