The Senior General Manager, Corporate Communications at Dangote Industries Ltd., Sunday Esan, has said Dangote Refinery has saved Nigeria more than ₦10 billion annually in foreign exchange by replacing fuel imports with locally refined products.
Esan disclosed this on Thursday in Lagos during the ongoing 2025 Media Week of the Nigeria Union of Journalists, Lagos State Council, themed “Unlocking Opportunities for Businesses in a Challenging Economy: The Role of the Media / Roadmaps to Energy Security in Nigeria.”
“The refinery is more than a national landmark; it is reducing foreign exchange outflows, driving GDP growth, creating jobs, positioning Nigeria as a regional energy hub, and strengthening our national energy supply,” he said.
According to him, the refinery, which began operations nearly two years ago, has significantly reduced the nation’s dependence on imported petroleum products.
He said these include helping to curtail PMS and diesel importation, stabilising the Naira, creating thousands of jobs, and strengthening the country’s energy supply chain.
He highlighted that fuel imports dropped by 1.54 per cent in the first quarter of 2025.
“While Nigeria spent $2.6 billion on fuel imports in Q1 2024, the figure declined sharply to $1.2 billion in Q1 2025.
“Dangote Refinery has saved Nigeria over ₦10 billion annually in foreign exchange by replacing imports with local production.
“It has significantly curtailed oil imports and created measurable economic impact, ” he stated.
Esan further revealed that the refinery is reviewing plans to scale up production from 650,000 barrels per day to 1.4 million barrels per day.
He also noted growing global interest in its products, including jet fuel, with Saudi Aramco and US buyers expressing interest.
He described the refinery as sprawling across an area roughly seven times the size of Victoria Island, Lagos, requiring at least five hours to tour by car.
Esan added that the acquisition of 4,000 CNG trucks for product distribution has created no fewer than 24,000 jobs.
“This shows the magnitude of the investment that one man, Alhaji Aliko Dangote, has brought to life,” he said.
Speaking on the role of the media in energy security, Esan urged journalists, particularly NUJ members, to report accurately on developments in the sector.
“We want your members to visit the refinery so your reports will be accurate and well-informed.
“When some people are bent on pulling it down, you will understand that this is a national asset we must protect,” he added.
NUJ Lagos Chairman, Mr Adeleye Ajayi, described the lecture as a valuable opportunity to examine Nigeria’s energy sector challenges and acknowledged federal efforts to harness the sector for national development.
Ajayi affirmed the union’s role in setting national agendas and encouraged Dangote Group and other energy stakeholders to collaborate with the media.
The Chairman of the Press Week Committee, Mr Wale Akodu, reflected on past hardships, including fuel scarcity and panic buying, noting that such crises have largely subsided thanks to improved local production.
NAN
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