Dangote opens up on when importation of fuel will end

The Africa’s wealthiest and the Chairman of Dangote Group, Aliko Dangote, has revealed that Nigeria will stop importing fuel next month, commended operationalization of the Dangote Refinery.

Dangote shared this development on Friday during the Africa CEO Forum Annual Summit in Kigali, where he express optimism about transforming the continent’s energy industry.

Dangote revealed that the refinery has the capacity to meet the gasoline, diesel, and aviation fuel needs of West Africa, and potentially the entire continent.

“By sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop,” he asserted.

He highlighted the refinery’s potential to make Africa self-sufficient in various energy sectors.

“We have enough gasoline to supply all of West Africa, diesel for West and Central Africa, and sufficient aviation fuel for the continent, with surplus for export to Brazil and Mexico. Our polypropylene and polyethylene production will meet Africa’s demands, and we are producing raw materials for detergents to curb import dependency,” Dangote stated.

Dangote also emphasized the refinery’s achievements since its commissioning in February.

He revealed that their investments in Africa have already boost their revenue from five billion dollars to thirty billion dollars within five years.

“Our refinery is large and critical for Africa, as most countries, except Algeria and Libya, rely on petroleum imports. We aim to change this by producing finished products locally, creating jobs, and preventing the export of raw materials and import of poverty,” he added.

In spite of facing significant challenges and skepticism, Dangote emphasised that failure was not an option.

He underscores the significance of persistent policy support from African leaders to facilitate ease of trade and entrepreneurship across the continent. “We need committed investments in Africa, and our successful delivery of the refinery, despite significant pushback, proves this commitment,” he concluded.