Aliko Dangote, Africa’s wealthiest individual and the Chairman of Dangote Group, has announced that Nigeria will stop importing fuel next month, thanks to the operationalization of the Dangote Refinery.
This development was shared during the Africa CEO Forum Annual Summit held in Kigali on Friday, where Dangote expressed optimism about reshaping Africa’s energy sector.
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.
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“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.
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“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 noted that their investments in Africa have already increased 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.
Despite facing significant challenges and skepticism, Dangote stressed that failure was not an option.
He highlighted the importance of consistent 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.