During the Crude Oil Refinery Owners Association of Nigeria Summit in Lagos, Aliko Dangote, the President of Dangote Group, revealed that the 650,000 barrels per day capacity refinery was constructed without any incentives from the Nigerian government.
Represented by the Executive Director of Dangote Group, Engr Mansur Ahmed, Dangote emphasized that the Dangote Refinery currently produces enough diesel and jet fuel to meet Nigeria’s demand.
The $20 billion refinery, which commenced operations on January 12, 2024, with a refining capacity of 300,000 barrels, increased to 400,000 barrels by the end of September 2024. On September 15, the refinery began distributing its petrol with the Nigerian National Petroleum Company Limited as the exclusive off-taker.
Despite Nigeria's status as the largest crude oil producer in Africa, the country has historically relied on imports to fulfill its refined petroleum product requirements.
Upon the introduction of Dangote Petrol, the Nigerian National Petroleum Company Limited announced a new fuel price ranging between N950 and N1,100 per liter across its retail outlets nationwide.
In September 2024, Dangote advocated for the complete removal of fuel subsidies by the Nigerian government.