Africa’s richest man, Aliko Dangote, has said his refinery can supply petroleum products across Nigeria and Africa despite disruptions linked to tensions in the Middle East.
Dangote spoke during a tour of the facility in Lagos, assuring Nigerians and other African countries of steady fuel supply.
“What I can do is assure Nigerians and most of West Africa, Central Africa, and East Africa, we have the capacity to supply them,” he said.
He noted that the refinery, operating at 650,000 barrels per day, is already ramping up exports to cushion supply shocks triggered by the Iran war.
Dangote disclosed that about 17 cargoes of petrol had been shipped to African countries facing shortages, while fertiliser exports had also increased.
“In the last couple of days, we’ve been loading to mostly African countries, which we were not doing before,” he said.
Officials said the plant has the capacity to produce up to three million metric tonnes of urea annually, with exports previously focused on the United States and South America.
The increased export push comes amid global supply disruptions affecting fuel availability and pricing.
Despite improved output, fuel prices in Nigeria have continued to rise, largely driven by high global crude oil prices.
Dangote, however, expressed optimism that sourcing crude in local currency could reduce costs and stabilise prices.
On crude supply, he commended the Nigerian National Petroleum Company Limited for increasing deliveries in March.
“Last month, they gave us six cargoes for naira and four cargoes for dollars,” he said.
He added that the supply still falls short of the 19 cargoes required for optimal operations, forcing the refinery to import crude from the United States and other African producers.
Dangote also raised concerns over international oil companies operating in Nigeria, accusing them of preferring to sell crude to traders, thereby increasing costs for the refinery.
He said the company was pushing for improved access to locally priced crude to stabilise fuel costs and strengthen energy security.
Meanwhile, the Deputy Secretary-General of the United Nations, Amina Mohammed, highlighted the role of Dangote Industries in addressing Africa’s food security challenges.
“I think the UN’s job here is to amplify and to put visibility on the possibilities of mitigating a food security crisis, and this is one of them,” she said.
She called for stronger global partnerships to scale up the company’s fertiliser production and tackle food shortages across the continent.
Her remarks come amid growing concerns over supply chain disruptions, climate shocks and geopolitical tensions affecting Africa’s food security.
