Africa’s richest man, Aliko Dangote, has thrust Nigeria into the center of global energy trade, with his $20 billion refinery stepping in to fill supply gaps left by Saudi Arabia and Kuwait.
As Middle Eastern refineries shut down for heavy maintenance, Dangote’s 650,000-barrels-per-day complex in Lagos has surged exports of petrol, diesel, and jet fuel.
In August alone, multiple long-range cargoes were dispatched to the Gulf and beyond transforming Nigeria into a net exporter of refined products for the first time.
The refinery, on track to expand to 700,000 bpd by December, is projected to generate $30 billion annually by 2026, cementing its place as a global energy powerhouse. Deals with Japan’s Mitsui Chemicals and massive investments in fuel distribution underline Dangote’s ambition to dominate international markets.
With Saudi Aramco and Kuwait National Petroleum scrambling to cover domestic shortfalls, Dangote has turned crisis into opportunity positioning Lagos as an unexpected rival to Riyadh and Kuwait City in the world’s fuel supply chain.
