The Dangote Refinery has contributed to a reduction in Nigeria’s fuel imports, saving the country more than ₦10 billion annually in foreign exchange, the Senior General Manager of Corporate Communications at Dangote Industries Ltd., Sunday Esan, has stated.

Esan made the disclosure on Thursday in Lagos during the 2025 Media Week of the Nigeria Union of Journalists, Lagos State Council, held under the theme “Unlocking Opportunities for Businesses in a Challenging Economy: The Role of the Media / Roadmaps to Energy Security in Nigeria.” He noted that the refinery, which began operations nearly two years ago, has helped curb dependence on imported petroleum products, including petrol and diesel.

“While Nigeria spent $2.6 billion on fuel imports in the first quarter of 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,” Esan said. He added that the refinery’s output has contributed to stabilising the Naira, supporting the national energy supply, and generating employment opportunities.

Esan indicated that the refinery, currently producing 650,000 barrels per day, is reviewing plans to increase capacity to 1.4 million barrels per day. He also highlighted growing international interest in its products, including jet fuel, from buyers such as Saudi Aramco and firms in the United States.

He described the facility as extensive, spanning an area roughly seven times the size of Victoria Island, Lagos, and noted that the acquisition of 4,000 CNG trucks for distribution has created approximately 24,000 jobs.

Speaking on the role of the media, Esan urged journalists to provide accurate reporting on developments in the energy 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 said.

NUJ Lagos Chairman Adeleye Ajayi described the lecture as a platform to examine challenges in the energy sector and acknowledged federal efforts to harness the industry for national development. Wale Akodu, Chairman of the Press Week Committee, noted that fuel scarcity and panic buying, which had previously affected the country, have been largely mitigated by increased local production.