Tuesday June 10, 2025|
Africa’s richest man and President of Dangote Group, Aliko Dangote, has announced plans for a significant overhaul of Nigeria’s downstream oil and gas sector, promising a transformative shift that will redefine the country’s energy landscape.
Dangote made this known while speaking to journalists after President Bola Ahmed Tinubu paid a high-profile visit to the 650,000-barrel-per-day Dangote Refinery located in Lekki, Lagos State.
While refraining from disclosing specific details, Dangote hinted that the impending reform will not center around petrol price reductions but will instead focus on a “total overhaul” of the downstream segment of the industry.
“Now that the President has visited and he has given us additional energy, we will inform you; you will hear from us soon. And that will be one of the major shakedowns in the entire country,” Dangote said.
“It is not the reduction of price; it will be the total overhaul of the downstream.”
The statement comes at a time when the Nigerian oil and gas sector is under intense public and government scrutiny, particularly regarding fuel pricing, import dependency, and refining capacity.
The Dangote Refinery, the largest single-train refinery in the world, is being positioned as a game-changer in the effort to reduce Nigeria’s reliance on imported fuel.
President Tinubu, who toured the facility during his visit, lauded the investment, describing it as a landmark achievement and a cornerstone for Nigeria’s industrial transformation.
“This refinery is a massive investment and a point of reference in our journey toward energy security and industrial development,” Tinubu noted.
The Dangote Refinery commenced the distribution of premium motor spirit (PMS) commonly known as petrol in late 2024, a development that has already begun to reduce Nigeria’s fuel import volumes significantly.
