Aliko Dangote, CEO of Dangote Industries Limited, don yarn say Nigeria no suppose dey import fuel again because country get capacity to produce all the crude and refined petroleum products wey dem need.
Dangote talk this one during South South Development Commission (SSDC) visit to Dangote Refinery and Fertiliser Complex for Lagos. Him talk say Petroleum Industry Act (PIA) don already give law wey go prioritize domestic crude supply, but some oil companies dey find loopholes to move Nigerian crude go their trading subsidiaries abroad, especially for Switzerland.
According to Dangote, this dey force local refineries to buy crude at premium of $4–$5 per barrel. “The crude dey. Na nothing shortage dey. But these companies dey move everything go their trading arms, we dey buy at premium. Meanwhile, we no dey get any bonus for our own products,” he explain.
Dangote don formally write government to make dem charge royalties and taxes based on actual price paid for crude, to prevent revenue loss and protect local refiners.
Dangote also talk say NNPC still dey supply five to six cargoes per month, but refinery need twenty cargoes per month from January to dey operate well. E call the situation “unsustainable for country wey wan grow industrially,” and add say Africa must dey focus on value addition, no just dey export raw material.
Him criticize import of petroleum products despite local production, call am “dumping,” and say refinery supply for October 2025 only cover 17.08 million litres out of 56.74 million litres consumed because regulators dey allow marketers dey import.
Dangote Refinery don promise to supply 50 million litres petrol daily for Yuletide, total 1.5 billion litres for December 2025, and another 1.5 billion litres for January 2026. Him also commend President Bola Tinubu Nigeria First Policy, but insist law backing dey needed to make am work.
Dangote conclude say Nigeria fit reach one trillion-dollar economy if government implement disciplined policies, improve power supply, and revive steel sector.
