Dangote Refinery Assures Nigerians of Fuel Price Stability, NGX Listing

•Says fuel scarcity gone with subsidy

Peter Uzoho

The Dangote Refinery has assured Nigerians of continuous stability in the price of petroleum products in the domestic market, adding that its plan to list on the Nigerian Exchange to give t citizens ownership opportunity remains on course.

The 650,000 barrels per day refinery has also reaffirmed its commitment to supplying Nigerians with premium quality petrol that meets global standards, in line with its vision of ensuring energy security for Nigeria and Africa.

The Managing Director and Chief Executive Officer of Dangote Refinery, Mr. David Bird, gave the assurance yesterday during his first press briefing at the refinery complex in Lagos.

Bird emphasised the facility’s advanced design and operational flexibility, which have enabled sustained high output even during scheduled maintenance.

“Dangote Refinery delivers world-class fuels meeting Euro V specifications to the Nigerian market, marking a decisive shift from the era of substandard imports. Our ability to export refined petrol to Europe and jet fuel to the Middle East underscores the quality and global competitiveness of our products,” Bird stated.

“With our scale, efficiency, and product quality, we are positioned to compete globally while meeting Nigeria’s domestic needs. This investment fundamentally transforms Nigeria’s energy, industrial, and economic landscape”, he added.

He said the refinery operates a 24-hour loading system with capacity to evacuate over 1,000 trucks daily, ensuring uninterrupted nationwide distribution.

He said daily petrol offtake at the refinery has at times exceeded 52 million litres, reflecting strong market demand and improved logistics efficiency.

Despite global price fluctuations, Bird noted that increased domestic refining capacity has shielded Nigeria from extreme volatility in international crude and product markets, helping maintain relatively stable pump prices.

He also highlighted the crude-for-naira arrangement as a strategic measure to conserve foreign exchange and support naira stability.

Looking ahead, Bird revealed plans for a major expansion within three years, alongside investments in petrochemicals such as polypropylene, base oils, and liquefied petroleum gas (LPG).

He added that preparations were underway to list a portion of the refinery on the Nigerian Stock Exchange, enabling Nigerians to participate directly in its ownership. Describing the project as a “continent-building investment,” Bird expressed pride in its transformative impact:

“It’s no exaggeration to say this is a continent-building project. I arrived in August and stand on the shoulders of giants who have achieved incredible milestones to turn this part of Lagos into what has the potential to become a world-scale industrial hub”, he noted.

Bird confirmed that the refinery is now focused on stabilisation and ramping up capacity. He said the facility delivered more than 50 million litres of products per day in the second half of 2025, occasionally exceeding 52 million litres.

He attributed this performance to the refinery’s unique design and the strategic foresight of Dangote Group founder, Alhaji Aliko Dangote:

“We’re not just a traditional refinery. Thanks to Alhaji Aliko Dangote’s vision, we have the infrastructure to operate as a complete merchant refining, blending, and trading platform. Our feedstock is 100 per cent seaborne, giving us flexibility to process a wide variety of Nigerian and alternative crude grades”, he said.