Dangote Refinery Ships First Jet Fuel Cargo To Saudi Aramco

Dangote Refinery Ships First Jet Fuel Cargo To Saudi Aramco

The Dangote Petroleum Refinery has marked a major milestone by exporting two shipments of jet fuel to Saudi Aramco, the world’s largest oil producer and a leading integrated oil and gas company. This achievement highlights Nigeria’s emerging role in the global energy market.….READ MORE 

Aliko Dangote, President of the Dangote Group, made this announcement during a visit from the Nigerian Economic Summit Group (NESG) to the Dangote Fertiliser Limited and the Dangote Petroleum Refinery and Petrochemicals in Ibeju Lekki, Lagos, on February 4, 2025.

While praising Dangote for establishing the $20 billion refinery—the largest single-train refinery globally—Niyi Yusuf, Chairman of NESG, emphasized the need for similar investments to propel Nigeria toward its goal of becoming a $1 trillion economy.

“To achieve a $1 trillion economy, domestic investments like this are essential. While others are dredging for leisure, you’ve dredged 65 million cubic tonnes of sand to secure Nigeria’s future,” Yusuf remarked. “I hope God grants you the strength, courage, and health to see your ambitions fulfilled, and that in your lifetime, a new Nigeria will emerge.”

Yusuf stressed the importance of local industries for Nigeria’s industrialization, noting their potential to drive the growth of Small and Medium Enterprises (SMEs). He reaffirmed NESG’s commitment to advocating for an improved investment climate that will attract entrepreneurs, foster development, ensure food security, and combat insecurity.

He also criticized Nigeria’s reliance on imports, describing it as unsustainable for a nation with over 230 million people. “It’s unimaginable that a country with an annual birth rate exceeding the total population of some nations still depends on imports to feed its people,” Yusuf said.

Yusuf commended Dangote for his bold vision in making Nigeria self-sufficient in critical sectors. “This refinery is a symbol of courageous ambition. You’ve transformed Nigeria from a net importer to an exporter of petroleum products,” he said. “The private sector has the power to drive real change.”

In response, Aliko Dangote reiterated the crucial role of the private sector in addressing Nigeria’s challenges, particularly through job creation. He argued that the concept of a free market shouldn’t justify ongoing import dependence. Citing examples from countries like the USA and China, Dangote highlighted how both developed and developing nations protect domestic industries to safeguard jobs and promote self-reliance.

Dangote also pointed to Benin Republic as a case in point, where cement imports are restricted to protect local industries despite his Ibese plant being just 28km away. “The President of Benin is a personal friend, yet they refuse imports to safeguard their industries,” he noted.

He stressed that the Nigerian government stands to benefit greatly when the private sector thrives, pointing out that 52% of Dangote Cement’s revenue goes to the government. However, he acknowledged the significant hurdles businesses face in Nigeria, including the high capital investment needed due to inadequate infrastructure. Dangote highlighted that investors often have to take on responsibilities for essential services like power, roads, and ports—services that should be provided by the government.

Despite these challenges, Dangote noted that the refinery’s advanced technologies and world-class standards have enabled it to penetrate global markets. “We are achieving the ambitious goals we set for ourselves, and I’m pleased to announce that we’ve successfully sold two cargoes of jet fuel to Saudi Aramco,” he said.

Since production commenced in 2024, the Dangote refinery has steadily ramped up its output, now reaching 550,000 barrels per day. This growth signifies Nigeria’s transition from a net importer to an exporter of petroleum products, underscoring the transformative impact of private sector investments.