There is a popular saying that he who controls the water controls the land. However, in the case of Nigeria, he who controls the oil controls the nation. The Dangote Refinery, owned by Aliko Dangote, Africa’s richest person, embodies this principle, accomplishing what the government has not been able to do for years. With his resources, Dangote is changing the trajectory of Nigeria’s economy.
Words of Mr. Aliko Dangote
At the Africa CEO Forum Annual Summit in Kigali on Friday, Mr. Aliko Dangote made bold statements reflecting his economic influence. He assured Nigerians that the country will cease importing petrol by June when the Dangote Refinery begins production.
He stated, “Right now, Nigeria has no cause to import anything apart from gasoline and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of litre.”
Dangote also addressed the petrol supply shortfall, not only in Nigeria but across West Africa. “We have enough gasoline to give to at least the entire West Africa. We have enough diesel to give to West Africa and Central Africa,” he said. Additionally, he mentioned that there is sufficient aviation fuel to meet the continent’s demands, with exports planned for Brazil and Mexico.
Speaking on the commencement of petrol production, Dangote said, “Next month, we will be producing diesel and gasoline.” He added that the refinery would process most African crude grades.
Diversification of Production into raw materials
Dangote highlighted that the refinery will diversify beyond petroleum products. He said, “Today, our polypropylene and our polyethylene will meet the entire demand of Africa and we are doing base oil, which is to do like engine oil. We are doing linear benzyl, which is raw material to produce LLB, which is raw material to produce detergent. We have 1.4 billion population and nobody is producing that in Africa.”
He emphasized that all raw materials for detergents are currently imported into Africa, but the refinery aims to produce these materials domestically to make Africa self-sufficient.
Golden Words
“As I said, give us three and a maximum of four years and Africa will not, I repeat, not import any more fertilizer from anywhere. We will make Africa self-sufficient in potash, phosphate (even if we don’t have enough, there is a lot in Morocco). But we are also looking at the opportunities,” he said.
“For our urea, we are at three million tonnes and in the next twenty months, we will be at six million tonnes of urea which is the entire capacity of Egypt.”
The business mogul detailed the refinery’s capacity, mentioning it can process 650,000 barrels per day, one million tonnes of polypropylene, and 590,000 tonnes of carbon black, the raw material for ink, dyes, and more.
Why It Matters
Nigeria and the entire continent of Africa have struggled with insufficiency and dependence on foreign support, leading to the exploitation of African resources by foreign entities. Aliko Dangote’s ambitious plans signal a new era for Africa, offering hope for economic restoration and self-sufficiency.
Bottom Line
Words are powerful, but actions speak louder than words. As Nigerians take these promises to heart, the hope is that the Dangote Refinery will fulfill its commitments and deliver on its promises, paving the way for a more self-reliant and prosperous Africa.
