‘No Petrol Scarcity This Christmas’, Dangote Promises Nigerians

President of Dangote Industries Limited, Alhaji Aliko Dangote, has assured Nigerians of uninterrupted fuel supply throughout the upcoming festive season, allaying fears of petrol scarcity during the ember months.

Speaking on Sunday while announcing the expansion of the Dangote Petroleum Refinery from 650,000 barrels per day (bpd) to 1.4 million bpd capacity, the billionaire industrialist said the facility was fully prepared to meet local demand without any price hike, despite the recent surge in global crude oil prices.

“In the last three days, we have witnessed an eight per cent spike in global oil prices,” Dangote said. “But I want to assure Nigerians that the Dangote Refinery is fully committed to maintaining an uninterrupted supply of petrol throughout the festive period. For the first time in many years, Nigerians can look forward to a Christmas and New Year free of fuel anxiety.”

The assurance comes amid fluctuating petrol pump prices across the country, which have moved from around ₦189 per litre in 2023 to over ₦1,000, before settling between ₦800 and ₦900 in early 2025.

Dangote stressed that Nigeria’s petrol pump price remains among the lowest in the region despite the refinery’s production of high-quality, cleaner Euro VI-standard fuels, which have helped curb the dumping of toxic products into the Nigerian market.

“Nigerians today buy petrol at roughly half the price of what our neighbours pay, and it is even cheaper than in Saudi Arabia,” he stated. “Our product is of higher quality, meeting Euro VI standards, and it has significantly reduced the dumping of toxic fuel into our market.”

According to him, the refinery’s operations have already contributed to stabilising local fuel supply, strengthening the naira, and preventing capital flight, marking a major step toward national energy independence.

Dangote also commended the Federal Government, Lagos State Government, and the host community in Lekki for their support, as well as the company’s financial and technical partners for their role in the refinery’s progress.

“This expansion is not just about capacity; it is about confidence in our people, in our government, and in our continent,” he said. “Together, we are building a stronger Nigeria and redefining what is possible for Africa.”

The industrialist called on other investors holding refinery licences to emulate his example and collaborate in achieving President Bola Tinubu’s vision of making Nigeria the refining hub of Africa.

“When Africa builds its own capacity, it builds its own destiny,” Dangote noted.

He revealed that the refinery’s expansion project will be executed over the next three years, financed through a mix of cash flow, public listing, and strategic investors. Upon completion, the facility will surpass India’s Jamnagar Refinery, currently the world’s largest, positioning Nigeria as a global refining powerhouse.

“This expansion will create additional jobs, support thousands of SMEs, and deepen our industrial base,” Dangote added. “Our goal has never been just to refine oil, but to refine opportunities for our people. It is a vote of confidence in Nigeria, in the reforms of President Bola Ahmed Tinubu’s administration, and in the ability of Africans to build and manage world-class infrastructure.”

He further disclosed plans to expand the refinery’s power generation capacity to 1,000 megawatts, ensuring full operational independence.

“More than 85% of our workforce will be Nigerians, with continuous investment in skills development and technology transfer. Our commitment to safety, sustainability, and local participation remains unwavering throughout every phase of the expansion.”

Dangote reaffirmed that the refinery’s $20 billion investment represents more than just industrial ambition, it is a symbol of Africa’s growing confidence in its own capacity to drive transformation.

“This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential, and our commitment to building energy independence for our continent and the world,” he said. “It is also about confidence in Nigeria, in Africa, and in our capacity to shape our own energy future.”

Dangote concluded by restating his alignment with President Tinubu’s vision for Nigeria to emerge as one of the world’s top suppliers of refined petroleum products.

“It is the dream of President Bola Ahmed Tinubu, GCFR, for Nigeria to become a global refining leader,” he said. “With his strong backing through his policies, we are taking on the challenge to make this happen.”