KIGALI, Rwanda – President Bola Ahmed Tinubu has defended his administration’s robust support for the Dangote Refinery, asserting that Nigeria’s energy security would have been hopelessly compromised amid current global conflicts without local refining capacity.
Okay News reports that the President shared these insights on Thursday during a sideline session at the 13th Africa CEO Forum in Rwanda. He emphasized that for a nation of over 200 million people, domestic refining is no longer a luxury but a survival necessity.
“Today, with the crisis around the whole world, particularly around conflict, Nigeria wouldn’t be able to survive, over 200 million people, without a refinery,” President Tinubu stated. “A risk-taker like the Dangote Refinery must be encouraged by the government in power.”
Government Incentives and Energy Sovereignty
The President detailed the specific administrative and policy interventions his government provided to ensure the $20 billion facility became operational. He noted that the federal government facilitated free trade licenses and actively supported the refinery’s efforts to secure the necessary crude oil feedstock through a “naira-for-crude” framework and other logistics interventions.
“What I did was support him, give him free trade for his own licence, and support him in his efforts to source the crude that is necessary,” the President explained. “Today, he is the exporter of both the PMS (petrol) and aviation fuel.”
Stabilizing the Downstream Sector
Tinubu argued that the reliance on imported fuel was a structural weakness that left Nigeria vulnerable to international price shocks and supply chain disruptions. By backing Aliko Dangote’s venture, he maintained that the government has taken a decisive step toward reducing foreign exchange pressure and ensuring a more predictable supply of petroleum products.
The remarks come at a time when the refinery has begun significant exports, marking a shift in Nigeria’s status from a net importer to a contributor to the regional energy market. The President’s comments in Kigali serve to reassure international investors that his administration remains committed to protecting large-scale, high-impact domestic investments that align with national security goals.
