Dangote Refinery Exports two Cargoes Of Jet Fuel To Saudi Arabia

Dangote Petroleum Refinery said it has achieved a significant milestone by successfully exporting two jet fuel cargoes to Saudi Aramco, the world’s largest oil producer and a leading integrated oil and gas company globally.

Saudi Aramco is the official Saudi Arabian Oil Company, which is a majority state-owned petroleum and natural gas company that is the national oil company of Saudi Arabia.

President of Dangote Group, Aliko Dangote, disclosed this during a visit by the Nigerian Economic Summit Group (NESG), team to both Dangote Fertiliser Limited and the Dangote Petroleum Refinery & Petrochemicals in Ibeju Lekki in Lagos.

Dangote said exporting products to the global markets, especially Saudi Aramco, was because of his refinery’s world-class standards and advanced technologies.

“We are reaching the ambitious goals we set for ourselves, and I’m pleased to announce that we’ve just sold two cargoes of jet fuel to Saudi Aramco,” he said.

Since its production began in 2024, the Dangote refinery has steadily increased its output, now reaching 550,000 barrels per day.

The chairman of NESG, Mr. Niyi Yusuf, stated that Nigeria needs more investments of this calibre to reach its $1 trillion economy goal.

“To achieve a $1 trillion economy, much of that must come from domestic investments. I joked during the bus ride that while others are dredging to create islands for leisure, you have dredged 65 million cubic tonnes of sand to create a future for the country. This refinery, fertiliser plant, petrochemical complex, and supporting infrastructure are monumental,” Yusuf said.

The chairman of NESG highlighted that such local industries are essential to Nigeria’s industrialisation and will help foster the growth of Small and Medium Enterprises (SMEs).

According to him, the NESG would continue to advocate for an improved investment climate to attract entrepreneurs, boost development, ensure food security, and address insecurity.

He bemoaned that Nigeria has become a dumping ground for foreign products, adding that the country must support its entrepreneurs to become a global player.

Yusuf, together with NESG board members and stakeholders, toured the refinery and fertiliser plants, lauded Dangote’s bold vision for making Nigeria self-sufficient in several key sectors as well as the level of investment, technology, and sophistication of young Nigerian engineers running world-class laboratories and central control units.

He also acknowledged Dangote’s perseverance and success in overcoming numerous challenges.

Speaking further, Dangote reiterated the importance of the private sector in national development and opined that Nigeria’s challenges could largely be overcome by providing gainful employment to its people.

Dangote advocated that the concept of a free market should not be used as a pretext for continued import dependence, stressing that both developed and developing nations, including the USA and China, actively protect their domestic industries to safeguard jobs and promote self-sufficiency.

He cited the example of the Benin Republic, where cement imports are restricted as part of a deliberate strategy to protect local industries, despite the proximity of his Ibese plant to the Benin Republic.

He explained that the government stands to gain substantially when the private sector flourishes, adding that 52 kobo (52 per cent) of every naira Dangote Cement generates goes to the government.