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Dangote listed refinery shares in March and supplied petrol in August.

By: Adisa Deborah

Dangote Industries Limited’s President and CEO, Alhaji Aliko Dangote, has declared that the Dangote Petroleum Refinery will be listed on the Nigerian Exchange by the end of March 2025. The refinery intends to sell petrol to African countries in two weeks and will generate 70% of the group’s earnings in forex. Dangote has settled crude oil supply difficulties with foreign oil majors and intends to list the refinery and petrochemicals by the end of the first quarter of next year.

 

Devakumar Edwin, Vice President of Dangote Industries Limited, has accused international oil firms (IOCs) of scheming to undermine the new Dangote refinery’s viability. Despite the publicity surrounding the 20% interest, the Federal Government holds only 7.2% of the Dangote Refinery. Edwin accused IOCs of demanding an exorbitant premium or claiming that crude is unavailable, forcing the refinery to import excessive expenses.

 

Dangote announced the end of the crude problem, alleviating fears over the refinery’s PMS supply date. The crisis has forced Nigeria to reduce output and purchase petroleum from countries like the United States, raising production costs. The IOCs intend to sell raw commodities to their home nations, creating jobs and income while growing GDP. The refinery commenced full operations in 2024 and is anticipated to increase production to 500,000 barrels per day by August 2025.

 

Dangote announced the successful completion of the East-West Gas Gathering System refinery project, which is estimated to generate more than $26 billion yearly. The project consists of a 3 billion cubic feet offshore pipeline, a 600 million standard cubic feet onshore gas pipeline, and a 300 million standard cubic feet gas processing facility. The refinery would generate 53 million liters of fuel per day and 1.1 million tons per day, meeting Nigeria’s needs and export surplus. In addition, the project collaborated with NGIC to construct nearly 200 kilometers of gas pipes.

 

Dangote, a Nigerian refinery, has declared plans to discontinue the monthly importation of premium motor spirits in Nigeria. During the Africa CEO Summit in Rwanda, Dangote committed to eliminating petrol imports beginning in June. The refinery can supply West Africa’s gasoline and diesel needs, as well as aviation fuel. Dangote claimed that Nigeria had enough gasoline to provide West Africa, diesel to feed Central Africa, and aviation fuel to ship to Brazil and Mexico.

 

Aliko Dangote, President of the Dangote Group, indicated that the petrol from the refinery’s 650,000 barrel capacity will be distributed in July due to minor issues. NNPC, the Nigerian National Petroleum Corporation (NNPC), owns 7.2% of the refinery, reducing its financial commitment. The NNPC has not increased its previous investment in the refinery, according to NNPC Chief Corporate Communications Officer Olufemi Soneye. The decision not to invest further in the refinery has no bearing on NNPC’s business.

 

Dangote, a Nigerian refinery and fertilizer plant, has announced plans to float its refineries and plants on the Nigerian Exchange Group by the first quarter of 2025. The decision comes as the company attempts to broaden its investment base and generate value for shareholders. Dangote’s rice millwork is ongoing, while the delay in acquiring a site for the Dangote Petrochemical Facility in Ogun State resulted in a $500 million loss.

 

Dangote, Africa’s top cement manufacturer, is restarting its fertilizer production in Nigeria to increase farmer output. The facility, which produces 3 million tonnes of granulated urea, is predominantly export-driven, with a significant share transported to Sub-Saharan Africa, South America, the United States, and Europe. The company’s income is expected to reach $30 billion in the next years, with 15% coming from the cement business and 50% coming from outside Nigeria. Plans are underway in Nigeria and Cote d’Ivoire to increase capacity by 9 million tons.