One year after his refinery began producing gasoline, Nigerian billionaire Aliko Dangote has declared that the country’s decades-long struggle with fuel queues is finally over.
Speaking at a conference to mark the first anniversary of the refinery’s launch, Dangote highlighted that Nigeria has battled persistent fuel queues since 1975. However, he stated that this issue has been steadily resolved since the 650,000 barrels-per-day facility began production on September 3, 2024.
“We have been battling fuel queues since 1975, but today Nigerians are witnessing a new era,” he said.
Dangote acknowledged the immense challenges the refinery faced, from opposition from powerful interests to a difficult economic climate. He revealed that he was repeatedly warned by industry experts, investors, and government officials that such a massive project was typically undertaken only by sovereign nations.
“The decision to build the refinery was not easy. If it had gone wrong, lenders would have taken our assets,” he admitted. “But we believed in Nigeria and Africa.”
He dismissed claims that the refinery would displace workers, stating that the project is creating thousands of new jobs. The company’s new fleet of 4,000 CNG-powered trucks alone is expected to generate at least 24,000 jobs for drivers, mechanics, and other support staff.
The Dangote Refinery has had a tangible impact on the Nigerian market, successfully reducing the price of petrol from nearly N1,100 to N841 in several key regions. With the gradual rollout of the new CNG truck fleet, Dangote anticipates this price reduction will soon be felt nationwide.
He also confirmed that the refinery has ample capacity to meet all of Nigeria’s domestic fuel needs while also generating foreign exchange through exports. Between June and the first week of September 2025, the facility exported over 1.1 billion liters of Premium Motor Spirit (PMS).
The businessman called on Nigeria to protect its local industries and avoid the dumping of cheap foreign goods, citing the collapse of the textile sector as a cautionary tale.
“We have not displaced any jobs; we are creating many more,” he said. “Relying on imports means exporting jobs and importing poverty.”
Dangote announced that the refinery’s capacity will be expanded to 700,000 barrels per day in its second year of operation. He also reaffirmed his commitment to partnerships within the downstream sector and his decision to not enter the retail market.
Looking ahead, he said the refinery’s success would make Nigeria a “refining hub of Africa” and that the country is set to become the world’s leading producer of fertilizer.
“These initiatives will generate substantial foreign exchange, create employment, and stimulate growth in other sectors,” Dangote said. He also assured the public that the new CNG trucks would be secure, stating that Nigeria is governed by the rule of law and that security agencies are fully prepared to protect the infrastructure.
