- Dangote Refinery now produces 33 million litres of PMS daily, matching Nigeria’s consumption needs and achieving 550,000 barrels per day capacity.
- NESG Chairman Niyi Yusuf praises Dangote’s $20 billion investment and urges the government to support more domestic projects for economic growth.
- Dangote calls for improved infrastructure and private sector growth, emphasising the need to protect local industries and create jobs.
The Dangote Refinery now produces 33 million litres of Premium Motor Spirit (PMS) daily, meeting Nigeria’s estimated daily PMS consumption. The refinery has also increased its capacity to 550,000 barrels per day, showing rapid growth since its launch last year.
The management announced these achievements on Tuesday during a visit by the Nigerian Economic Summit Group (NESG) directors to the refinery’s control room in Lagos. NESG Chairman Niyi Yusuf led the delegation and praised the refinery for boosting Nigeria’s fuel supply and reducing import dependence.
The refinery’s Mild Hydrocracking (MHC) unit operates at 120% capacity, while the Continuous Catalytic Reforming Unit (CCRU) performs at 90%. These units improve output and convert heavy naphtha into valuable products.
In addition to meeting local demand, the refinery has exported two shipments of jet fuel to Saudi Aramco, marking its entry into the global market.
NESG Applauds Dangote’s Investment
During the tour, NESG Chairman Yusuf highlighted the refinery’s impact on Nigeria’s economy. He commended Aliko Dangote for building the $20 billion refinery, the world’s largest single-train refinery. Yusuf urged the government to encourage more investments of this scale to help Nigeria achieve its $1 trillion economy goal.
“We must focus on domestic investments to achieve a $1 trillion economy. While others create leisure islands, Dangote is dredging to secure Nigeria’s future,” Yusuf said. “This refinery, fertiliser plant, and petrochemical complex are monumental for our economy.”
Yusuf called on the government to prioritise local investors and industries, saying these investments will drive industrialisation and support Small and Medium Enterprises (SMEs).
“Nigeria is becoming a dumping ground for foreign goods,” Yusuf said. “With a population of over 230 million, we cannot rely on imports to meet our needs.”
Dangote Calls for More Private Sector Involvement
Dangote emphasised the crucial role of the private sector in solving Nigeria’s problems. He stated that job creation through industrialisation remains key to addressing the country’s challenges.
“When the private sector thrives, the government also benefits. For example, 52% of every naira generated by Dangote Cement goes to the government,” Dangote said. He also stressed the need for better infrastructure, as investors often have to cover the costs of providing essential services like power, roads, and ports.
Dangote highlighted the example of the Benin Republic, which limits cement imports to protect its local industries. He urged Nigeria to take similar measures to safeguard domestic industries from foreign competition.
The NESG team toured the fertiliser plant and admired the advanced technology and expertise of the young Nigerian engineers managing the facility. They also commended Dangote’s determination to overcome challenges and build a significant project.
The Dangote Refinery’s success boosts Nigeria’s energy sector and economy. It demonstrates the transformative power of private sector investment and moves Nigeria closer to self-sufficiency in key industries.