Dangote Refinery Boasts Over N600bn Petrol Stock as Zambia Seeks Investment

Dangote Refinery Boasts Over N600bn Petrol Stock as Zambia Seeks Investment

.....Aliko Dangote Highlights Refinery's Role in Africa's Energy Sector

The President of Dangote Industries Limited (DIL), Aliko Dangote, has disclosed that the Dangote Petroleum Refinery has over N600 billion worth of Premium Motor Spirit (PMS) in storage, sufficient to meet Nigeria’s local fuel needs.

Speaking over the weekend, Dangote revealed that the refinery currently holds more than half a billion litres of petroleum products, including gasoline, diesel, and kerosene, and has the capacity to supply 100% of Nigeria’s fuel requirements.

**“As we speak right now, we have more than half a billion litres. The refinery is producing enough refined products to meet the nation’s needs,”** Dangote stated.

His remarks came during a visit by Zambia’s Minister of Energy, Mr. Makozo Chikote, and a delegation from the Zambian government, who toured the Dangote Refinery complex to explore energy collaboration opportunities.

**A Refinery for Africa**

Dangote emphasized that the refinery is not just for Nigeria but for Africa, in line with the objectives of the African Continental Free Trade Area (AfCFTA) agreement.

**“This refinery is not only for Nigeria; it is for Africa. We must sustain the AfCFTA deal by fostering intra-African trade,”** he noted.

Zambia’s Minister of Energy, Makozo Chikote, commended Dangote’s vision, stating that his country is eager to partner with the refinery to boost energy security and competition in Zambia’s petroleum sector.

**“In Zambia, we have created an enabling environment for private sector participation in our petroleum industry. Dangote’s model aligns with our objective of increasing productivity in mining, agriculture, and other sectors through competitive energy solutions,”** Chikote said.

During the delegation’s tour of the refinery’s key facilities, including the Single Point Mooring system, Dangote Jetty, Africa’s largest fertilizer plant, and the 650,000 barrels per day (bpd) single-train refinery, Chikote expressed admiration for the project’s scale and strategic vision.

**Private Sector as the Driver of Africa’s Growth**

World Bank Vice President for Budget, Performance Review, and Strategic Planning, Samuel Maimbo, also part of the delegation, stressed that Africa’s economic transformation depends on private-sector-driven initiatives like the Dangote Refinery.

**“There isn’t enough development aid or government funding to drive Africa’s growth at the required pace and scale. The private sector remains the key to achieving self-sufficiency in trade and energy security,”** Maimbo asserted.

**Unmatched Production Capacity**

Vice President of Oil and Gas at Dangote Industries Limited, Edwin Devakumar, highlighted the refinery’s advanced capabilities, emphasizing its flexibility to process a variety of crude types from Nigeria, Africa, and the Middle East.

**“Our refinery produces the highest quality petroleum products. We ensure maximum value extraction from every barrel of crude processed,”** Devakumar said.

He further revealed the refinery’s production breakdown:

- 104 million litres of refined products daily,

- 57 million litres of petrol,

- 20 million litres of jet fuel,

- 27 million litres of diesel.

With Nigeria’s daily fuel consumption at approximately 46 million litres, Dangote confirmed that the excess 58 million litres would be exported, reinforcing the refinery’s role in Africa’s energy market.

**A Game-Changer for Africa’s Energy Landscape**

The Zambian delegation concluded their visit by reaffirming their interest in partnering with Dangote Industries to secure energy solutions for their country. Chikote emphasized that increased competition and investment in Africa’s energy sector would enhance economic stability across the continent.

**“From what we have seen, we must prioritize intra-African trade to build a self-sufficient and globally competitive continent,”** Chigoke stated.

The Dangote Refinery stands as a testament to Africa’s industrial potential, setting a benchmark for energy security and economic independence.