Lagos: The Vice President of Dangote Oil and Gas Refinery, Mr Devakumar Edwin, has described the newly established Dangote Refinery as a strategic national reserve designed to safeguard Nigeria’s energy security. During a media tour of the facility at the Lekki Free Trade Zone in Lagos State, Mr Edwin told journalists that, before the refinery’s establishment, the country often experienced fuel scarcity during festive seasons due to the absence of a national reserve.
According to Voice of Nigeria, Mr Edwin highlighted that constructing the refinery was a near-impossible task for a Nigerian company. However, Aliko Dangote, President of Dangote Industries Limited, remained determined to actualise the vision, resulting in what is now the world’s largest single-train petroleum refinery. ‘In the past, we frequently ran short of fuel, especially during the Christmas season or when there were disruptions at airports. Now, we can store up to fifteen days’ worth of fuel for the entire country, more than a month’s supply of diesel, and an even larger quantity of aviation fuel. What we have here functions as a national strategic reserve,’ he said.
Mr Edwin further noted that the most remarkable achievement was that a Nigerian company executed the project without relying on traditional global contractors. ‘Before we began, the largest single-train refinery globally processed 430,000 barrels per day in the Middle East. Our processes 650,000 barrels per day-50 per cent more. Even international licensors doubted its feasibility. Yet, we worked closely with them and achieved it,’ he said. ‘Across the world, refineries are usually built by companies like Bechtel, Technip, or JGC. When we approached them, they quoted about $20 billion, including a $3 billion service fee. Aliko Dangote insisted we could build it ourselves. That decision led to the creation of Dangote Projects Limited, which successfully constructed the refinery. Every Nigerian should be proud of that,’ Edwin added.
The Dangote Refinery has significantly altered Nigeria’s economic landscape, transforming the nation from one of the world’s largest importers of petroleum products into an exporter. The development has also helped stabilise the economy following the removal of fuel subsidies, eased pressure on foreign exchange and enhanced the value of the naira. ‘We are now exporting jet fuel mainly to Europe, while petrol and diesel are being exported to the United States and Europe. The refinery has ensured a steady supply of high-quality products for the first time in decades. We’ve seen fuel prices stabilise and, in some cases, fall. This shows the refinery’s positive impact on pricing, currency stability and foreign exchange inflow,’ he explained.
The refinery complex also houses a fertiliser plant with an annual production capacity of two million tonnes, surpassing Nigeria’s annual demand of about 750,000 tonnes. This has made fertiliser more accessible and affordable, supporting the growth of commercial agriculture. In addition, the refinery has created thousands of jobs, particularly for young Nigerian engineers, contributing to national employment and industrial development. Observers believe that the success of the Dangote Refinery could encourage more Nigerian investors to venture into large-scale manufacturing, thereby strengthening the nation’s drive towards self-sufficiency and sustainable economic growth.