The President of Dangote Industries Limited (DIL), Aliko Dangote, has disclosed that his company’s petroleum refinery has over N600 billion worth of petrol in storage, sufficient to meet Nigeria’s domestic demand.

Dangote’s statement counters that of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which recently claimed that only 50 per cent of the nation’s fuel supply could be sourced locally.

Speaking during a visit by Zambia’s Minister of Energy, Makozo Chikote, Dangote confirmed that the refinery holds more than half a billion litres of petroleum products, including petrol, diesel, and kerosene.

“Our refinery produces enough to meet Nigeria’s entire demand. This facility is not just for Nigeria; it is for Africa. We must sustain the African Continental Free Trade Area (AfCFTA) deal,” he stated.

Zambia’s delegation expressed keen interest in partnering with Dangote for energy solutions, with Chikote highlighting the potential for competitive and reliable fuel supply.

Meanwhile, Dangote, Africa’s richest man, has revealed his ambition to be Nigeria’s equivalent of John D. Rockefeller, aiming to transform his homeland through industrial investment and job creation. Despite facing challenges in the Nigerian oil sector, he remains resolute in expanding his business empire across Africa.