Dangote Refinery saves Nigeria ₦10 billion annually: Official
Dangote Refinery saves Nigeria ₦10 billion annually: Official
“The refinery is more than a national landmark; it is reducing foreign exchange outflows,” said the official.
Sunday Esan, senior general manager for corporate communications at Dangote Industries Ltd., says the Dangote Refinery has saved Nigeria more than ₦10 billion annually in foreign exchange by replacing fuel imports with locally refined products.
Mr Esan disclosed on Thursday in Lagos during the ongoing 2025 Media Week of the Nigeria Union of Journalists in Lagos.
He noted that the refinery had significantly reduced the nation’s dependence on imported petroleum products.
“The refinery is more than a national landmark; it is reducing foreign exchange outflows, driving GDP growth, creating jobs, positioning Nigeria as a regional energy hub, and strengthening our national energy supply,” stated Mr Esan.
Mr Esan said the Dangote Refinery, which began operations almost two years ago, has already made substantial contributions to the Nigerian economy.
He said these include helping to curtail PMS and diesel importation, stabilising the Naira, creating thousands of jobs, and strengthening the country’s energy supply chain. He highlighted that fuel imports dropped by 1.54 per cent in the first quarter of 2025.
“While Nigeria spent $2.6 billion on fuel imports in Q1 2024, the figure declined sharply to $1.2 billion in Q1 2025. Dangote Refinery has saved Nigeria over ₦10 billion annually in foreign exchange by replacing imports with local production. It has significantly curtailed oil imports and created a measurable economic impact,” he said.
Speaking on production capacity, Mr Esan revealed that the refinery was reviewing a scale-up from 650,000 barrels per day to 1.4 million barrels per day.
He added that global interest in the refinery continues to grow, with Saudi Aramco — one of the world’s largest refiners — and U.S. buyers expressing interest in its jet fuel.
He also described the massive size of the complex, noting that the refinery spans an area approximately seven times the size of Victoria Island, Lagos, requiring a minimum of five hours to tour by car.
“This shows the magnitude of the investment that one man, Alhaji Aliko Dangote, has brought to life,” he said.
Mr Esan added that the acquisition of 4,000 CNG trucks for product distribution has created no fewer than 24,000 jobs.
On the role of the media in advancing energy security, Mr Esan urged journalists, particularly NUJ members, to set the right agenda and report accurately on developments in the energy sector.
“We want your members to visit the refinery so your reports will be accurate and well-informed. When some people are bent on pulling it down, you will understand that this is a national asset we must protect,” he added.
(NAN)
