Nigeria's five-decade-long battle with persistent fuel queues has finally come to an end, thanks to the Dangote Petroleum Refinery, which began producing petrol a year ago.
This declaration was made by the President and Chief Executive of Dangote Petroleum Refinery, Aliko Dangote, at a conference marking the first anniversary of the refinery's petrol production launch.
Speaking at the event, which celebrated the milestone of the 650,000-barrels-per-day refinery, Dangote posited that Nigerians have endured fuel queues since 1975.
"We have been battling fuel queues since 1975, but today Nigerians are witnessing a new era," he stated.
He emphasised that since the refinery commenced production on September 3, 2024, the issue has been steadily resolved.
Dangote acknowledged the immense challenges the project faced from its inception, noting that it was an unwavering commitment to Nigeria and Africa.
He admitted that many in the industry, including experts, investors, and government officials, warned him against the venture, arguing that only sovereign nations undertake such large-scale refinery projects.
He disclosed that had the project failed, he would have lost all his assets to lenders.
"The decision to build the refinery was not easy. If it had gone wrong, lenders would have taken our assets.
“But we believed in Nigeria and Africa," he said.
He also addressed concerns about job displacement, clarifying that the refinery is a major job creator.
“The deployment of 4,000 CNG-powered trucks alone is expected to create at least 24,000 new jobs.
"We have not displaced any jobs; we are creating many more. The CNG trucks will not be operated by robots," he said, adding that employees earn salaries significantly higher than the minimum wage, with comprehensive benefits like life insurance, health insurance, and pensions.
Reiterating his commitment to Nigeria’s industrialisation, Dangote stressed the need to protect local industries from cheap foreign goods, citing the collapse of the textile sector as a cautionary tale.
He announced plans to expand the refinery's capacity to 700,000 barrels per day in its second year of operation, with the ultimate goal of transforming Nigeria into a refining and industrial hub for the continent.
"Nigeria has now become the refining hub of Africa. We are set to become the largest exporter of polypropylene and are aiming to make Nigeria the world’s leading producer of fertiliser," he stated, adding that these initiatives will generate foreign exchange, create jobs, and stimulate growth.
He also expressed gratitude to the Federal Government, partners, employees, and the Nigerian public for their support, specifically commending the Independent Petroleum Marketers Association of Nigeria (IPMAN) for their cooperation.
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