Aliko Dangote, Africa’s richest individual with a net worth of $27.6 billion, is rapidly expanding his refinery’s operations as part of an ambitious push to reshape regional energy flows and global trade dynamics. The Dangote Petroleum Refinery, a $20 billion megaproject and the largest refinery on the continent, has just received a fresh 146,000 metric tonnes of crude oil from the international market.
The latest shipment was discharged by the vessel Hercules, with another 125,000-tonne cargo set to arrive shortly aboard the Sienna. These deliveries mark a significant ramp-up in feedstock supply as the refinery moves closer to reaching its full operational capacity of 650,000 barrels per day (b/d)—positioning it as the seventh-largest refinery in the world.
Dangote Refines, Then Exports—98,000 Tonnes of Jet Fuel Bound for the Global Market
As global demand for refined petroleum products rises, Dangote Refinery is stepping in to meet supply needs. In the latest export round, three international vessels—Microft, STI Mighty, and PS New Orleans—have docked to load a combined 98,000 metric tonnes of jet fuel for global destinations.
This marks a key turning point for Nigeria’s downstream oil sector, once entirely dependent on imports, but now reorienting toward high-value exports, including recent shipments of over 2 million barrels of jet fuel to the U.S. in March, following a major Saudi crude delivery in February.
Domestic Trade Transformed: Nigerian Marketers Tap into Dangote Refinery
Back home, the refinery is equally disruptive. Leading Nigerian fuel marketers such as Aiteo, Rainoil, Obat, and Pinnacle are now lifting PMS and diesel supplies directly from port-based imports tied to the Dangote ecosystem.
According to tanker movement data, this shift reflects the impact of deregulation, which has created room for independent marketers to compete and thrive.
“Deregulation has empowered marketers to participate in both domestic and international markets,” said Olatide Jeremiah, CEO of Petroleum Price NG. “This increases efficiency and ultimately benefits the end-users.”
Dangote and NNPC: Partners, Not Competitors
Amid fears of a competitive standoff, Dangote clarified that the Nigerian National Petroleum Company (NNPC) Ltd. and the Dangote Refinery are working in strategic alignment to enhance Nigeria’s energy security.
“We are partners, not competitors,” Dangote said. “NNPC is embedded in our operations, and vice versa.” This collaboration reflects a shared commitment to reduce reliance on fuel imports, increase self-sufficiency, and reposition Nigeria as a refined fuel exporter.
By mid-2024, the refinery had hit 350,000 b/d, scaled up to 500,000 b/d by January 2025, and is expected to reach its full 650,000 b/d capacity by June 2025—a milestone that would significantly shift the balance of power in global refining.
Eyes on the Future: Dangote Targets $30 Billion in Annual Revenue by 2026
Beyond oil, Dangote’s long-term vision is rooted in industrial infrastructure, petrochemicals, fertilizer exports, and energy transformation. His stated goal: to scale the Dangote Group to $30 billion in annual revenue by 2026—a leap that would further consolidate his legacy as one of the most dominant industrialists in modern African history.
With his refinery reshaping both regional and global trade, Dangote’s strategy is not only about profits—it’s about positioning Nigeria as a key player in the global energy and industrial supply chain.
