Aliko Dangote, President of Dangote Industries Limited, has assured Nigerians of a stable supply of Premium Motor Spirit (PMS) during the festive season. He made the announcement while unveiling plans to expand the Dangote Petroleum Refinery from 650,000 barrels per day (bpd) to 1.4 million bpd, a move expected to strengthen the country’s energy security and reduce reliance on imported fuel. Despite recent global price increases, Dangote said petrol prices will not be hiked during the ember months and emphasized that the refinery is committed to maintaining an uninterrupted supply throughout the festive period.
The assurance comes as a relief to Nigerians who have seen fuel prices fluctuate in recent years. Pump prices rose from around N189 per litre in 2023 to over N1,000, before falling to between N800 and N900 per litre since early 2025. Dangote highlighted that Nigeria’s pump price remains among the lowest in the region, even though the refinery produces higher‑quality, cleaner fuels. He noted that Nigerians currently pay roughly half the price of their neighbours and even less than in Saudi Arabia. The refinery has already helped stabilise local fuel supply, strengthen the naira, and prevent capital flight.
The expansion is driven by emerging opportunities across Africa, growing regional demand for cleaner fuels, and Nigeria’s evolving policy environment that encourages local refining. The project, to be executed over the next three years, will be financed through a mix of cash flow, a public listing, and strategic investors. Upon completion, the refinery will surpass India’s Jamnagar Refinery—currently the world’s largest facility—cementing Nigeria’s position as a global refining hub.
Dangote praised the Federal and Lagos State governments for their continued support, as well as the host community in Lekki and the refinery’s financial and technical partners. He called on other investors holding refinery licences to follow the example and collaborate in achieving President Tinubu’s vision of making Nigeria the refining hub of Africa. The expansion is expected to create additional jobs, support thousands of SMEs, and deepen the country’s industrial base.
Commissioned in May 2023, the Dangote Refinery will also increase its polypropylene production capacity and boost power generation to 1,000 megawatts. Its strong cash flow, profitability prospects, and strategic positioning are set to make it an attractive investment for both local and global investors. With this expansion, Dangote aims to build Africa’s leading integrated energy and petrochemical hub, delivering a significant impact on Nigeria’s economy and energy security.
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