•Seeks legislative backing for Nigeria First Policy
The Chairman and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has criticized the crude oil supply practices of international oil companies, insisting that Nigeria has no justification to import crude oil or refined petroleum products if existing laws are properly enforced.
During a visit by the South South Development Commission (SSDC) to the Dangote Oil Refinery and Fertilizer Complex in Lagos, Dangote said the Petroleum Industry Act (PIA) already sets out a framework that prioritizes domestic supply of crude oil. However, he noted that operators continue to exploit loopholes that undermine the intent of the law.
Dangote said several oil companies routinely divert Nigerian crude oil to their trading subsidiaries abroad, particularly in Switzerland, forcing domestic refiners to buy from these offshore entities at a premium of four to five dollars per barrel.
“Crude oil is available. It is not a question of scarcity. But companies transfer everything to their commercial branches and we are forced to buy at a premium. Meanwhile, we do not receive any premium for our own products,” he said.
He revealed that he has formally written to the Federal Government, urging it to collect royalties and taxes based on the actual price paid for crude oil, to avoid loss of revenue and discourage practices that harm local refineries.
Dangote said NNPC remains the main supplier meeting national supply obligations, providing five to six shipments monthly. However, the refinery will need up to twenty shipments per month starting in January to operate optimally.
Describing the situation as “unsustainable for a country seeking genuine industrial growth”, Dangote argued that Africa’s economic future depends on value addition rather than the perpetual export of raw materials.
“It is shameful that while we exported 1.5 million tons of gasoline in June and July, imported products flooded the country. That is dumping,” he said.
On the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) report that the refinery supplied only 17.08 million liters of the 56.74 million liters consumed in October 2025, Dangote said the refinery will export its products if regulators continue to allow dumping by marketers.
Dangote has committed to supplying 50 million liters of gasoline daily over the Christmas period, with a total of 1.5 billion liters planned for December 2025 and another 1.5 billion liters for January 2026.
He praised President Bola Tinubu’s Nigeria First policy but highlighted the need for legislative support to make the policy more effective. He said the President is committed to positioning Nigeria as a leader in Africa’s transition from the export of raw materials to value-added production, job creation and sustainable economic expansion.
Dangote further explained that the company’s expansion strategy reflects the rapidly growing demand for petroleum products in Africa, estimated at around four million barrels per day, while regional refining capacity remains below one and a half million barrels.
Referring to Nigeria’s ambition to achieve a trillion-dollar economy, Dangote said the goal can be achieved through disciplined policy execution, improved power generation and a revival of the steel sector.
“You cannot build a great nation without energy and steel. Every bolt and nut used here was imported. That should not be the case. Nigeria should supply steel to smaller African countries,” he said.
He also highlighted opportunities for partnership with the SSDC in agriculture, particularly in soil testing and customized fertilizer formulation, noting that misuse of fertilizers remains one of the main reasons why Nigerian farmers experience limited productivity gains.
“We are establishing advanced soil testing laboratories. Starting next year, we want to work with the SSDC to empower farmers by providing them with accurate soil assessments and customized fertilizer blends,” Dangote said.
He added that despite the global push for electric vehicles, Africa will continue to rely heavily on petroleum products due to limited energy access and affordability challenges.
“There is talk of electric vehicles, but six hundred million Africans do not have electricity for their refrigerators. Oil remains essential because more than six thousand products come from it,” he said.
Dangote reaffirmed the refinery’s commitment to supporting national economic growth, strengthening local industry and ensuring that Nigeria becomes a net exporter of refined products and petrochemicals.