Dangote Petroleum Refinery Exports Jet Fuel Cargoes to Saudi Aramco
The Dangote Petroleum Refinery has made significant strides in the global oil market by recently exporting two cargoes of jet fuel to Saudi Aramco, the largest national oil company in Saudi Arabia and the world’s leading oil producer. Aliko Dangote, President of Dangote Group, shared this milestone during a visit from the Nigerian Economic Summit Group (NESG) to both the Dangote Fertiliser Limited and the Dangote Petroleum Refinery & Petrochemicals situated in Ibeju Lekki, Lagos.
“We are achieving the ambitious objectives we set for ourselves, and I am excited to announce the sale of two jet fuel cargoes to Saudi Aramco,” Dangote stated.
He emphasized that the engagement of Saudi Aramco and other major players in the global market demonstrates the world-class caliber of the Dangote refinery. Since commencing operations in 2024, the refinery, which boasts a current production capacity of 550,000 barrels per day (bpd), aims to reach its targeted full capacity of 650,000 bpd by the end of the first half of 2025.
During the visit, NESG Chairman Mr. Niyi Yusuf praised Aliko Dangote for establishing the world’s largest single-train refinery in Nigeria, a project valued at $20 billion. He underscored the necessity for more investments of this scale in order to realize Nigeria’s ambition of achieving a $1 trillion economy. “For us to move towards a $1 trillion economy, most of this growth must come from domestic investments. I joked on our bus ride that while others are creating leisure islands through dredging, you’ve dredged 65 million cubic tons of sand to build a future for our nation,” Yusuf remarked.
He described the refinery, the fertilizer plant, the petrochemical complex, and the related infrastructure as monumental achievements. Yusuf also expressed hope that Dangote would have the strength, courage, and health to fulfill his aspirations, leading to the emergence of a new Nigeria.
Yusuf emphasized that local industries play a critical role in Nigeria’s industrialization, remarking that their growth can significantly support Small and Medium Enterprises (SMEs). He reiterated the NESG’s commitment to promoting an improved investment climate that would attract entrepreneurs, drive development, ensure food security, and combat insecurity.
He also urged the federal government to provide support for domestic businesses, lamenting that Nigeria has become a destination for foreign products. “It is hard to believe that a nation with over 230 million people, with an annual birth rate greater than the populations of some countries, continues to rely on imports for food supply,” he stated.
The NESG chairman commended Dangote’s vision for advancing Nigeria’s self-sufficiency in refined petroleum products, calling the Dangote refinery a symbol of bold ambition. “The NESG is grateful, as is the nation. This refinery represents the power of courage. Achieving what you have takes tremendous effort, and it’s inspiring to see you flourishing,” he said. “You’ve shifted Nigeria from being a net importer of petroleum products to a net exporter. This is not just about thinking big; it’s about demonstrating that the private sector can drive genuine change.”
In response, Dangote reflected on the vital role of the private sector in national development, asserting that Nigeria’s challenges can largely be addressed through job creation. He cautioned against unfettered imports masquerading as free market practices, citing the examples of developed and developing nations, including the USA and China, which actively protect their domestic industries to foster job growth and independence.
He also mentioned the Benin Republic’s restrictions on cement imports to safeguard local industries, although his Ibese plant is in close proximity to the border. “The President is personally acquainted with me, and my Ibese plant is only 28 kilometers from Benin, yet they prohibit imports to protect their local industries, most of which are grinding plants,” he noted.
In Summary:
- The Dangote Petroleum Refinery has begun exporting jet fuel to Saudi Aramco.
- The facility aims to increase its production capacity to 650,000 bpd by mid-2025.
- Local investment and support from the government are crucial for Nigeria’s economic growth.
- Dangote champions the role of private enterprises in national development while advocating for the protection of domestic industries.
The Dangote Petroleum Refinery is not only meeting local demands but also exports various petroleum products, including Premium Motor Spirit (PMS), Diesel, and Jet fuels to several countries across Africa and Europe. Nonetheless, there continues to be legal disputes with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over the ongoing importation of fuel products.
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