Aliko Dangote, President and Chief Executive of Dangote Petroleum Refinery, has declared that Nigeria’s five-decade struggle with fuel queues has ended one year after his $20 billion refinery began producing petrol.
Speaking in Lagos at a conference to mark the first anniversary of the refinery’s operations, Dangote said Nigerians had endured petrol shortages since 1975 but were now witnessing a new era of stability.
“We have been battling fuel queues since 1975, but today Nigerians are witnessing a new era,” he said.
Dangote recalled that the project carried enormous risks, noting that he would have lost all his assets to lenders if it had failed. He said sceptics, including investors, industry experts, and foreign officials, argued that only sovereign governments could attempt such a venture.
The refinery commenced petrol production in September 2024, altering the dynamics of Nigeria’s downstream sector. By June 2025, the company announced its first major exports of Premium Motor Spirit (PMS), shipping over one billion litres abroad.
At the time, Dangote said, “This shows our refinery can meet local demand and still generate foreign exchange. Nigeria has now become the refining hub of Africa.”
In August 2025, the refinery rolled out 1,000 Compressed Natural Gas (CNG)-powered trucks to distribute products across the country. Addressing concerns of monopoly, Dangote insisted then that “what we have done is to make our country and continent proud. We are not here to displace jobs, we are here to create many more.”
On Monday, he confirmed that the fleet had expanded to 4,000 trucks, expected to create at least 24,000 direct jobs.
“Our employees earn three times the minimum wage, while our drivers receive a living wage, life, and health insurance, pensions, and coverage for their families. These trucks will not be driven by robots,” he said.
He added that the refinery has helped stabilise petrol prices, reducing them from nearly N1,100 per litre before production to N841 in parts of the South West, Abuja, Delta, Rivers, Edo and Kwara states. He assured that further reductions would follow as more CNG trucks were deployed nationwide.
Beyond fuel availability, Dangote stressed that the refinery has also delivered economic benefits. According to him, Nigeria is now saving close to $1 billion annually in demurrage costs previously incurred by waiting vessels.
He further revealed that the facility prevented a potential $6 billion debt trap linked to international traders, noting that “before we came in, the Nigerian National Petroleum Company Limited was already indebted to traders. With our refinery, queues have disappeared, demurrage has stopped, and Nigeria has a steady supply chain.”
The industrialist said the operations of the refinery had also made subsidy removal sustainable, as local refining reduced dependence on imports. Industry experts have described the project as one of the most significant policy stabilisers for the current administration, insulating Nigeria from global market volatility.
Dangote urged the National Assembly to support the Federal Government’s ‘Nigeria First’ policy with enabling laws, stressing that local industries must be protected.
“Imports export jobs and import poverty. Other nations were not industrialised by outsiders; we must build and industrialise our own economy,” he said.
Looking ahead, Dangote announced plans to expand refining capacity from 650,000 to 700,000 barrels per day in its second year, with Nigeria positioned to become Africa’s refining hub and a leading exporter of polypropylene and fertiliser.
He clarified that the refinery would not enter the retail market despite offers to acquire filling stations, maintaining that its focus was wholesale supply and partnerships. He also assured Nigerians that the CNG fleet and refinery operations were secure, stressing that security agencies were fully empowered to protect lives and assets.
Dangote expressed gratitude to the Federal Government, industry partners, the refinery’s workforce, and Nigerians for their support. He particularly commended the Independent Petroleum Marketers Association of Nigeria (IPMAN) for encouraging members to embrace the CNG truck initiative.
