“Many individuals with greater financial resources than myself want to invest (in the industrialisation of Nigeria) but the challenges I am facing (in the hand of cabal) discourage them. Numerous sectors are still in urgent need of industrialisation.”
These were the words of the President and Chief Executive Officer of Dangote Group, Alhaji Aliko Dangote when he spoke today, September 15, at a conference to mark the first anniversary of the launch of petrol from the 650,000 barrels-per-day Dangote refinery in Lagos.
Aliko Dangote emphasized the urgent need for Nigeria to protect its local industries and discourage the dumping of cheap foreign goods, citing the collapse of the once-thriving textile sector as an example.
He said that Nigeria’s path to sustainable economic growth lies in industrialisation, which not only boosts local productivity but also supports a circular economy.
“Other nations were not industrialized by outsiders. We must build and industrialize our own economies. Without this, how can others invest?
“That is why I believe the National Assembly should enact legislation to support the Federal Government’s ‘Nigeria First’ policy.
“My goal is to see Africa prosper, as we have the fastest-growing population in the world.
“Relying on imports means exporting jobs and importing poverty.”
He reaffirmed his commitment to Nigeria’s industrialisation, describing it as essential for the continent’s development.
On the refinery, the Chief Executive, said that since the refinery began producing petrol a year ago, Nigeria’s five-decade-long struggle with fuel queues has finally come to an end.
According to him, Nigerians have endured persistent fuel queues since 1975 but that the issue has been steadily resolved since the refinery commenced production on 3rd September 2024.
“We have been battling fuel queues since 1975, but today Nigerians are witnessing a new era.”
He acknowledged the numerous challenges the refinery has been facing since its inception, saying that the company is ever committed to Nigeria and Africa.
“The journey has been challenging because we sought to transform the downstream sector in Nigeria.
“Some believed we were taking food from their tables, which simply isn’t true. What we have done is to make our country and continent proud. Previously, only two African countries were not importing petrol, but regrettably, they have since resumed imports. This is detrimental to Africa.”
Dangote stressed that the refinery project involved enormous risk, adding that he received repeated warnings from industry experts, investors, local and foreign government officials, who argued that only sovereign nations undertook such large-scale refinery ventures.
He admitted that had the project failed, he would have lost all his assets to lenders.
“The decision to build the refinery was not easy. If it had gone wrong, lenders would have taken our assets. But we believed in Nigeria and Africa.”
He said that despite opposition and economic headwinds, the refinery has successfully reduced the price of petrol from nearly N1,100 before production began to N841 in the Southwest, Abuja, Delta, Rivers, Edo and Kwara. With the gradual rollout of CNG-powered trucks. He anticipated this price reduction will soon be felt nationwide.
He said that the refinery has sufficient capacity to meet Nigeria’s domestic demand while also generating foreign exchange through exports.
He revealed that between June and first week of September 2025, the facility had exported over 1.1 billion litres of Premium Motor Spirit (PMS), underscoring its capacity to meet domestic demand and contribute significantly to foreign exchange earnings.
Dangote said that the refinery has no intention of displacing workers but is instead generating thousands of new employment opportunities.
According to him, the deployment of 4,000 CNG-powered trucks is expected to create at least 24,000 jobs across Nigeria.
“We have not displaced any jobs; we are creating many more. The CNG trucks will not be operated by robots.
“Our employees earn salaries three times the minimum wage. Our drivers receive a living wage, life insurance, health insurance covering themselves, their spouses, and up to four children, as well as a lifelong pension. “We are not only employing drivers but also mechanics, fleet managers, and other professionals to support the CNG fleet.”
Dangote said that while the company respects trade unions, membership is a personal choice for each driver.
He said that with the introduction of CNG trucks, the refinery can deliver products to consumers anywhere in Nigeria, mitigating all associated risks.
Dangote reiterated that the refinery remains open to partnerships and collaborations with other stakeholders in the downstream sector.
He stressed that the industry stands to gain more through collective effort and cooperation, even as he said that the refinery has no plans to enter the retail market.
Looking ahead, Dangote announced that the refinery’s capacity would be expanded to 700,000 barrels per day in its second year of operation, with the aim of further supporting economic growth and job creation.
“Nigeria has now become the refining hub of Africa. We are set to become the largest exporter of polypropylene and are aiming to make Nigeria the world’s leading producer of fertiliser.
“These initiatives will generate substantial foreign exchange, create employment, and stimulate growth in other sectors.
“We are fully committed to supporting the government in adding value, creating jobs, and building a stronger economy.”
He expressed his gratitude to the Federal Government, the refinery’s partners, dedicated workforce, and the Nigerian public for their continued support.
He commended the Independent Petroleum Marketers Association of Nigeria (IPMAN) for encouraging its members to register for the free distribution initiative utilising CNG-powered trucks.
Dangote also used the occasion to showcase some of the CNG-powered trucks currently loading petrol from the refinery, emphasising that the company will successfully deploy all 4,000 trucks across the country soon.
He allayed any fears of potential attacks on the drivers or the trucks, stressing that Nigeria is a country governed by the rule of law and that security agencies are fully empowered to protect its citizens and infrastructure.
