At the heart of his briefing was a declaration that the Dangote Refinery is now ready to deliver up to 50 million litres of petrol daily—comfortably above the nation’s demand. He noted that Nigeria’s battle with fuel queues, which dates back to the early 1970s, may finally be nearing its conclusion through local production rather than import dependence. According to him, even during routine servicing of the facility, the country did not experience the typical disruptions that often trigger panic buying, a trend he insists will soon become a thing of the past.
Looking beyond the immediate supply assurance, Dangote projected that by February the refinery will produce 15–20 million litres more than Nigeria needs each day, enabling exports to neighbouring countries. This, he argued, could have a stabilising effect across West Africa, where fuel shortages often ripple across borders.
The ripple effects, he said, will not be limited to petroleum. Domestic manufacturers—particularly those in plastics and related sectors—are expected to benefit from steady access to locally produced feedstock, replacing imports that previously cost the country an estimated $400 million annually.
Dangote also outlined a sweeping expansion agenda. By 2028, he expects the refinery’s capacity to rise to 1.4 million barrels per day, surpassing India’s Reliance refinery, currently the largest in the world. Agreements for the expansion have already been signed, with construction piling scheduled to begin before the end of January. He described these timelines as firm commitments rather than aspirational targets.
Beyond fuels, the Group plans to scale its urea production to 12 million tonnes annually, a move Dangote believes will position Nigeria as the world’s leading producer, ahead of Russia and Qatar. The ambition, he said, is for the company to supply fertiliser across the entire African continent.
Reflecting on recent reductions in petrol and diesel prices, Dangote attributed the trend to increased local competition and a noticeable decline in smuggling. While smuggling has not been eliminated, he said its impact has reduced significantly—one of several factors contributing to greater market stability.
Despite the enormous capital sunk into the refinery and petrochemical complex, Dangote framed the project as a long-term national investment rather than a profit-first venture. His stated goal is to help ensure that essential goods—fuel, fertiliser, and eventually power—are consistently available to Nigerians.
However, he highlighted persistent structural issues, especially in logistics. Nigeria’s key ports, he noted, are heavily congested, making it difficult to export minerals like copper or coal. To address this, the Group is developing a deep-sea port at Olokola, expected to become the largest in West Africa once completed within the next two to two-and-a-half years.
The industrialist also expressed support for the government’s naira-for-crude policy, calling it a patriotic initiative despite resistance from international oil companies. He remains confident that any challenges associated with the policy will be resolved through legislative or administrative measures.
On global competitiveness, Dangote remained upbeat, saying the goal is to make Nigeria Africa’s primary refining hub. With all African countries importing fuel to various degrees, he argued it is logical for a major market like Nigeria to lead in supplying the continent.
He used the opportunity to endorse the government’s Nigeria-first industrial policy and urged wealthy Nigerians to prioritise productive investments over luxury acquisitions. According to him, local investors must take the lead if the country hopes to attract sustainable foreign capital.
Despite acknowledging years of policy inconsistency, smuggling, and factory closures, he expressed confidence that Nigeria is finally moving toward a more stable industrial environment. Domestic investment, he said, will speak louder than promotional campaigns: “Nobody advertises a good restaurant; when the food is good, word spreads.”
Dangote described his discussion with President Tinubu as a routine consultation centred on economic conditions and the business climate, adding that the engagement was both constructive and forward-looking.