The Dangote Petroleum Refinery has made a significant milestone by exporting two jet fuel cargoes to Saudi Aramco, the world’s largest oil producer and Saudi Arabia’s national oil company.
This development was disclosed by Aliko Dangote, President of the Dangote Group, during a visit by the Nigerian Economic Summit Group (NESG) to the Dangote Fertiliser Limited and Dangote Petroleum Refinery & Petrochemicals in Ibeju Lekki, Lagos.
“We are reaching the ambitious goals we set for ourselves, and I’m pleased to announce that we’ve just sold two cargoes of jet fuel to Saudi Aramco.”
Aliko Dangote, President of the Dangote Group
Dangote emphasized that attracting globally renowned companies like Saudi Aramco reflects the refinery’s world-class standards.
Since commencing operations in 2024, the refinery has steadily ramped up production, now reaching a capacity of 550,000 barrels per day (bpd). The refinery is set to achieve its full capacity of 650,000 bpd by the end of the first half of 2025.
The Dangote Refinery, valued at $20 billion, is recognized as the world’s largest single-train refinery, a title that underlines its monumental scale and strategic significance in the global energy market.
Dangote highlighted the private sector’s critical role in national development. He asserted that many of Nigeria’s challenges could be addressed through job creation and economic empowerment driven by private investments.
Dangote also warned against the unchecked importation of foreign goods under the guise of a free market, noting that even developed countries like the USA and China protect their domestic industries to secure jobs and promote self-sufficiency.
“The President is a personal friend, and my Ibese plant is just 28 km from Benin, yet they refuse to allow imports to protect their local industries, most of which are grinding plants.”
Aliko Dangote, President of the Dangote Group
Dangote explained citing the example of the Benin Republic’s strict import controls to safeguard local businesses.
NESG Applauds Dangote’s Visionary Leadership
Dangote Refinery
During the facility tour, NESG Chairman Niyi Yusuf commended Dangote for his transformative contributions to Nigeria’s industrial landscape.
“To achieve a $1 trillion economy, much of that must come from domestic investments.
“I joked during the bus ride that while others are dredging to create islands for leisure, you’ve dredged 65 million cubic tonnes of sand to create a future for the country.”
Niyi Yusuf, NESG Chairman
He further praised the integrated approach of combining the refinery with fertilizer plants, petrochemical complexes, and supporting infrastructure, describing them as monumental achievements that will reshape Nigeria’s economic trajectory.
Yusuf expressed hope that Dangote’s bold ventures would inspire a new era of industrialization in Nigeria, emphasizing the critical role such local industries play in fostering the growth of Small and Medium Enterprises (SMEs).
Yusuf reaffirmed NESG’s commitment to advocating for policies that promote an improved investment climate in Nigeria.
He stressed the importance of attracting both domestic and foreign entrepreneurs to drive economic growth, ensure food security, and address challenges such as insecurity.
“It’s inconceivable that a nation of over 230 million people, with an annual birth rate higher than the total population of some countries, is still dependent on imports to feed its citizens,”
Niyi Yusuf, NESG Chairman
Yusuf called on the Federal Government to support domestic companies and help them compete globally.
Yusuf also criticized Nigeria’s over-reliance on imports, describing the country as a “dumping ground” for foreign products. He called for policies that support local entrepreneurs, arguing that self-sufficiency is vital for national development.
“The NESG is grateful, and I believe the nation is as well. This refinery represents the audacity of courage.
“It takes immense effort to do what you’ve done and still be standing and smiling. Thank you for inspiring us and showing that nothing is impossible.”
Niyi Yusuf, NESG Chairman
He commended Dangote for transforming Nigeria from a net importer to a net exporter of refined petroleum products.
“You’ve transformed Nigeria from a net importer of petroleum products to a net exporter.
“We’ve all read Think Big, but this is truly about thinking big. The message is clear: the private sector can bring about real change.”
Niyi Yusuf, NESG Chairman
The successful export of jet fuel to Saudi Aramco marks a historic milestone for the Dangote Refinery and underscores the transformative potential of domestic investments in Nigeria.
As the refinery ramps up to full capacity, it is poised to play a pivotal role in Nigeria’s quest for economic self-sufficiency, industrialization, and global competitiveness.
The collaborative efforts between the private sector and government stakeholders will be key to sustaining this momentum and unlocking new opportunities for Nigeria’s economic growth.
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