Dangote Refinery Boasts Over N600bn Worth of Petrol in Storage as Zambia Seeks Investment in Energy Sector
Dangote Industries Limited (DIL) has revealed that its Petroleum Refinery currently holds over N600 billion worth of petrol, ensuring Nigeria’s energy demands are met. Speaking over the weekend, President of DIL, Aliko Dangote, stated that the refinery has more than half a billion litres of petroleum products in its storage tanks.
“As we speak right now, we have more than half a billion litres. The refinery is producing enough refined products, including gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements,” Dangote said.
Zambia Eyes Dangote Partnership in Energy Sector
Dangote made this disclosure during a visit by a high-powered Zambian delegation, led by the country’s Minister of Energy, Mr. Makozo Chikote, to explore potential collaborations in the energy sector. Highlighting the refinery’s pan-African vision, Dangote emphasized its role in advancing intra-African trade under the African Continental Free Trade Area (AfCFTA).
“This refinery is not only for Nigeria; it is for Africa. We must sustain the AfCFTA deal by trading with other African countries,” Dangote said.
Impressed by the refinery’s scale and impact, Zambia’s Energy Minister, Chikote, expressed readiness to collaborate with the company. He noted that Zambia relies entirely on the private sector for petroleum supply and is eager to enhance competition to improve service delivery.
“Your presentation offers an immediate solution to our energy needs. We are looking at Dangote coming on board to provide efficient, reliable, and competitive products,” Chikote remarked.
Dangote Refinery’s Output and Global Competitiveness
During the visit, Edwin Devakumar, Vice President of Oil and Gas at Dangote Industries, provided insight into the refinery’s production capacity. He stated that the facility is designed to process a mix of Nigerian and international crude oil, ensuring maximum value extraction.
“The refinery produces 104 million litres of lighter products daily, including 57 million litres of petrol, 20 million litres of jet fuel, and 27 million litres of diesel,” Devakumar explained.
With Nigeria’s local consumption at approximately 46 million litres, the remaining 58 million litres will be exported daily, reinforcing Dangote Refinery’s role as a major player in Africa’s energy market.
Private Sector as Africa’s Growth Driver
Also present at the visit, Samuel Maimbo, Vice President of Budget, Performance Review, and Strategic Planning at the World Bank Group, emphasized the need for private sector investment to accelerate Africa’s development.
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“There is not enough government funding or development aid to drive Africa’s growth. The only way forward is through private sector investment, which is why we are here today—to learn from an ambitious project like this,” Maimbo stated.
With its massive production capacity and commitment to regional economic growth, the Dangote Petroleum Refinery continues to position itself as a key driver of Africa’s industrial transformation.
