Senior General Manager, Corporate Communications at Dangote Industries Ltd., Mr Sunday Esan,  said the Dangote Refinery has saved Nigeria more than ₦10 billion annually in foreign exchange by replacing fuel imports with locally refined products.

Esan made the disclosure on Thursday in Lagos during the ongoing 2025 Media Week of the Nigeria Union of Journalists (NUJ), Lagos State Council.

The theme of the event is “Unlocking Opportunities for Businesses in a Challenging Economy: The Role of the Media / Roadmaps to Energy Security in Nigeria”.

He noted that the refinery had significantly reduced the nation’s dependence on imported petroleum products.

“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.”

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Esan said the Dangote Refinery, which began operations almost two years ago, has already made substantial contributions to the Nigerian economy.

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 said.

Speaking on production capacity, Esan revealed that the refinery was reviewing a scale-up from 650,000 barrels per day to 1.4 million barrels per day.

He added that global interest in the refinery continues to grow, with Saudi Aramco — one of the world’s largest refiners — and U.S. buyers expressing interest in its jet fuel.

He also described the massive size of the complex, noting that the refinery spans an area approximately seven times the size of Victoria Island, Lagos, requiring a minimum of five hours to tour by car.

“This shows the magnitude of the investment that one man, Alhaji Aliko Dangote, has brought to life,” he said.

Esan added that the acquisition of 4,000 CNG trucks for product distribution has created no fewer than 24,000 jobs.

On the role of the media in advancing energy security, Esan urged journalists, particularly NUJ members, to set the right agenda and report accurately 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 added.

Also, Mr Udeme Akpan, Energy Editor at Vanguard Newspapers, stated that businesses could benefit significantly from strong media partnerships through access to credible information needed for informed daily decision-making.

He challenged journalists to uphold credibility to strengthen trust with the business community.

In his welcome address, Mr Adeleye Ajayi, NUJ Lagos Chairman, described the lecture as a valuable opportunity to highlight and examine the major challenges confronting Nigeria’s energy sector.

Ajayi also acknowledged the Federal Government’s ongoing efforts to harness the sector’s potential for national development.

Responding to Esan’s remarks on agenda-setting, Ajayi affirmed that the union had consistently set national agendas at both state and federal levels.

He stressed the need for Dangote Group and other stakeholders in the energy sector to remain open to collaboration with the media.

Mr Wale Akodu, Chairman of the Press Week Committee, reflected on the hardships Nigerians faced in previous years — particularly fuel scarcity and panic buying during the Yuletide — which, he noted, have now largely become a thing of the past. NAN