In a moment that may well redefine Nigeria’s industrial destiny, Aliko Dangote stood before the press, calm, confident, and quietly proud. Behind his composure was a story of grit, disruption, and an unyielding belief that Africa could build, produce, and compete on its own terms.
The billionaire industrialist, who has long been the face of Africa’s private-sector revolution, reflected on the milestones of his refinery, especially its impact on Nigeria’s long-troubled petroleum landscape. “The second of our projection is gasoline,” Dangote began. “When we launched gasoline, that same day the government announced the end of fuel subsidy. That move saved the downstream system.”
Before Dangote Refinery came on stream, the country’s energy infrastructure was gasping for air. The NNPC and even the military, he revealed, were over six billion dollars in debt, a crisis that threatened to grind Nigeria’s fuel supply to a halt. Traders were pulling out, ships were idling, and the system was collapsing under its own inefficiencies.
“But luckily, we came in and saved the situation,” he said. “Today, you don’t have ships causing demurrage costs of about one billion dollars annually. That’s what we’ve eliminated.” The refinery, now one of the largest in the world, runs daily, producing and evacuating products seamlessly. Dangote noted that sometimes, export is the only option, not out of surplus but out of necessity. “We even export a lot due to issues with marketers. But that will be resolved. Today is a day of celebration. We don’t want distractions.”
In recent weeks, Dangote and the oil workers’ union, NUPENG, have been locked in a tense public exchange. True to form, he didn’t shy away from the topic but handled it with characteristic restraint. “We’ve issued a reply to their statement, and we’ll wait to see their response,” he said. Then, with a smile that hinted at deeper confidence, he added, “If they reply, keep your phones on because that day, we’ll drop what I call a nuclear weapon.”
Behind the humor lies a businessman who understands the stakes. Dangote knows that reforming Nigeria’s energy sector means challenging entrenched interests. “In America, when Amazon enters a market, competitors innovate. Here, many people are used to rent collection, so they fight those who change the system.”
Dangote’s refinery isn’t just about profit. It’s a statement, a demonstration that Africa can industrialize without foreign dependency. “We’ve made our country and continent proud,” he said. “Every country in Africa imports petroleum products. All refineries in South Africa are down. We’re the only ones producing consistently.” He pointed to larger geopolitical dynamics, the wars of oil pricing and power. “Globally, the real issue between the U.S. and India is oil. Russian crude is pegged at $45, and they refine it to sell at huge profits. We’re not even allowed to sell crude; we’re only permitted to refine and supply within Nigeria.”
Dangote’s refinery is privately built, a feat unmatched in Africa. It produces 500 megawatts of its own power and even constructed a ten-lane road offset against taxes. “We’re grateful to the President for that support,” he said. Despite these achievements, Dangote laments the challenges of mafia pricing and dumping, practices that threaten local industries by flooding the market with cheap imports. “Every country protects its producers. The idea of dumping is to destroy local industries, exporting jobs while importing poverty.”
He’s already producing at scale, exporting 1.8 billion liters of gasoline in three months, but insists that the refinery’s priority is local supply. “We’ve eradicated fuel queues and saved one billion dollars annually in demurrage,” he stated. Dangote’s analogy is powerful: “It’s the same tactic that killed the textile industry. We must not repeat that mistake.”
Critics often accuse Dangote of monopolizing industries, from cement to sugar. But he sees it differently. “When we started cement production, we were the only ones. Today, BUA, Lafarge, and Mangal are thriving. That’s progress, not monopoly.” He revealed that Nigeria now earns 500 million dollars yearly from cement exports, a model he believes the energy sector can replicate.
“NNPC refineries cannot compete,” he said bluntly. “Their gasoline yield is 18 percent, while ours is 54 percent. The more they operate, the more they lose. Government must encourage more refineries, over 30 licenses have already been issued.”
By next year, Dangote expects refinery capacity to rise to 700,000 barrels daily, with 58 percent destined for export. “Nigeria will soon be Africa’s largest exporter of polypropylene,” he said. “We also aim to become the largest urea fertilizer producer in the world, another milestone for Nigeria.”
On NUPENG’s claim of job losses, Dangote was unequivocal: “False. We purchased 10,000 CNG trucks, 4,000 tankers and 6,000 dry cargo vehicles, to modernize our operations.” He added that even as Dangote Cement transitions from diesel to gas, the group continues to innovate to stay ahead. “Nearly 4,000 tankers have already arrived, with more on the way. By November, we’ll have over 10,000 trucks on the road,” he said.
For Dangote, this journey is not merely about fuel, it’s about faith in Nigeria’s potential. “Trading is temporary, but industry builds lasting value,” he said. From cement to oil, and from fertilizers to exports, Aliko Dangote’s vision stretches beyond business. It’s about restoring Africa’s dignity through self-sufficiency.
In his words and in his work, one message resounds: Nigeria’s future will not be imported; it will be refined right here at home.
