By David Bolarinwa,The Nation

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Nigeria’s near five-decade struggle with fuel queues has finally ended, according to Africa’s richest man and President/Chief Executive of Dangote Petroleum Refinery, Aliko Dangote.

Speaking in Lagos at a conference to commemorate the first anniversary of petrol production from the 650,000 barrels-per-day facility, Dangote said the refinery’s success has ushered in a “new era” for Nigerians since it began rolling out Premium Motor Spirit (PMS) on September 15, 2024.

“We have been battling fuel queues since 1975, but today Nigerians are witnessing a new era,” Dangote declared.

Dangote recalled that the project carried enormous risks, with repeated warnings from industry experts and financiers who argued that only sovereign governments could attempt such a venture.

“The decision to build the refinery was not easy. If it had gone wrong, lenders would have taken our assets. But we believed in Nigeria and Africa,” he said.

Despite skepticism, opposition and economic headwinds, he pointed out the refinery has succeeded in reducing petrol prices from nearly N1,100 per litre before production began to about N841 in parts of the South West, Abuja, Delta, Rivers, Edo, and Kwara States.

Dangote said the rollout of 4,000 Compressed Natural Gas (CNG)-powered trucks would ensure this relief extends nationwide.

The refinery has already exported over 1.1 billion litres of PMS between June and early September 2025, underscoring its dual role in meeting domestic demand and earning foreign exchange for Nigeria.

Dangote emphasised that rather than displacing jobs, the refinery is creating thousands of new opportunities. The CNG truck deployment alone is projected to generate 24,000 jobs, spanning drivers, mechanics, fleet managers, and support staff.

“Our employees earn salaries three times the minimum wage. Drivers get a living wage, life insurance, health insurance for their families, and a lifelong pension. We have not displaced jobs; we are creating more,” he stressed.

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Beyond fuel, Dangote stated the refinery has become a catalyst for Nigeria’s broader industrialisation.

He urged the government to discourage the dumping of cheap foreign goods, warning that overreliance on imports exports jobs and “imports poverty.”

“Other nations were not industrialised by outsiders. We must build and industrialise our own economies,” he said, citing the collapse of Nigeria’s textile industry as a cautionary tale.

Dangote revealed plans to expand the refinery’s capacity to 700,000 barrels per day in its second year of operation. He also outlined ambitions to make Nigeria Africa’s refining hub and a global leader in fertiliser and polypropylene production.

“These initiatives will generate substantial foreign exchange, create employment, and stimulate growth in other sectors,” he said.

He reaffirmed that the refinery will not venture into the retail market despite opportunities to acquire filling stations, stressing instead the importance of collaboration with other downstream stakeholders.

Dangote expressed appreciation to the Federal Government, regulators, and the Independent Petroleum Marketers Association of Nigeria (IPMAN) for backing the refinery’s distribution strategy.

He also showcased some of the newly deployed CNG trucks, assuring that the government and security agencies are fully committed to protecting drivers and infrastructure.

“The refinery is not just about fuel; it’s about building a stronger economy, creating jobs, and positioning Nigeria as an industrial leader,” Dangote concluded.