The Dangote refinery has announced that sold two cargoes of aviation fuel to Saudi Aramco, the national oil company of Saudi Arabia.
A statement from the refinery on Wednesday revealed that the President of the Dangote Group, Alhaji Aliko Dangote disclosed this milestone on Tuesday when the Nigerian Economic Summit Group visited the Dangote Fertiliser Limited and the Dangote Petroleum Refinery & Petrochemicals in Ibeju Lekki area of Lagos State.
Dangote said the refinery recently achieved a significant milestone by successfully exporting two cargoes of jet fuel to Saudi Aramco, who are the largest oil producer in the world and a leading integrated oil and gas company globally.
Dangote further said that the refinery is reaching the ambitious goals it set for itself as it ramps up production.
“We are reaching the ambitious goals we set for ourselves, and I’m pleased to announce that we’ve just sold two cargoes of jet fuel to Saudi Aramco,” he said, adding that since its production began in 2024, the refinery has steadily increased its output, now reaching 550,000 barrels per day.
During the visit, NESG led by its Chairman, Mr. Niyi Yusuf urged the Federal Government to support local industries to drive economic growth so as to meet the $1tn economy target.
While commending Dangote for establishing the $20bn refinery, the NESG Chairman, Mr Niyi Yusuf, stated that Nigeria needs more investments of this calibre to reach its $1tn economy goal.
“To achieve a $1tn economy, much of that must come from domestic investments. I joked during the bus ride that while others are dredging to create islands for leisure, you’ve dredged 65 million cubic tonnes of sand to create a future for the country.
“This refinery, fertiliser plant, petrochemical complex, and supporting infrastructure are monumental. I hope that God grants you the strength, courage, and health to realise your ambitions and that in your lifetime, a new Nigeria will emerge,” Yusuf remarked.
The NESG chairman noted that such local industries are essential to Nigeria’s industrialisation and will help foster the growth of Small and Medium Enterprises, adding that the Nigeria Economic Summit Group would continue to advocate for an improved investment climate to attract entrepreneurs, boost development, ensure food security, and address insecurity.
He expressed disappointment that Nigeria has become a dumping ground for foreign products and depending on imports to feed its citizens.
“It’s inconceivable that a nation of over 230 million people, with an annual birth rate higher than the total population of some countries, is still dependent on imports to feed its citizens,” he stated.
Mr. Niyi Yusuf however commended Aliko Dangote and expressed gratitude to him for making Nigeria self-sufficient in several sectors.
“The NESG is grateful, and I believe the nation is as well. This refinery represents the audacity of courage. It takes immense effort to do what you’ve done and still be standing and smiling. Thank you for inspiring us and showing that nothing is impossible.
“You’ve transformed Nigeria from a net importer of petroleum products to a net exporter. We’ve all read Think Big, but this is truly about thinking big. The message is clear: the private sector has the ability to bring about real change,” he stated.
Dangote calls for government protection of domestic industries
While speaking, Aliko Dangote emphasised on the importance of the private sector in national development, asserting that Nigeria’s challenges could largely be overcome by providing gainful employment to its people.
He stated that the concept of a free market should not be used as a pretext for continued import dependence, highlighting that both developed and developing nations, including the USA and China, actively protect their domestic industries to safeguard jobs and promote self-sufficiency.
Dangote also cited the example of the Benin Republic, where cement imports are restricted as part of a deliberate strategy to protect local industries, despite the proximity of his Ibese plant.
“The President is a personal friend, and my Ibese plant is just 28km from Benin, yet they refuse to allow imports in order to protect their local industries, most of which are grinding plants,” he stated.
He argued that the government stands to gain substantially when the private sector flourishes, noting that 52 kobo of every naira Dangote Cement generates goes to the government.
Dangote also spoke on the significant challenges involved in setting up industries in Nigeria, especially the substantial capital investment required due to the lack of infrastructure. According to him investors are often forced to take on responsibilities for essential services such as power, roads, and ports – services that should be provided by the government.
Dangote added that the refinery’s world-class standards and advanced technologies have enabled it to export products to global markets.
