NUJ PUBLIC LECTURE: DANGOTE REFINERY SAVES NIGERIA N10 BILLION ANNUALLY

 

NUJ Public Lecture: Dangote Refinery Saves Nigeria ₦10 Billion Annually

Media practitioners, journalism students, and well-wishers gathered at the BOS Hall of Lagos Television Complex, Agidingbi, Ikeja, on Wednesday for the Nigeria Union of Journalists (NUJ) 2025 Press Week Lecture.

The event, themed “Unlocking Opportunities for Businesses in a Challenging Economy: The Role of the Media / Roadmaps to Energy Security in Nigeria,” featured extensive discussions on the subject.

Welcoming participants, the NUJ Chairman, Mr. Adeleye Ajayi, described the lecture as an auspicious opportunity for speakers and attendees to highlight and examine the major challenges confronting Nigeria’s energy sector. He also acknowledged the Federal Government’s efforts in harnessing the sector’s potential for national benefit.

Setting the mood for the day, the moderator, Mr. Wale Akodu, Chairman of the Press Week Committee, provided background on the hardships Nigerians endured during the difficult years especially fuel scarcity and panic buying during the yuletide which, he noted, have now largely become a thing of the past.

In his remarks,

Mr. Sunday Esan, Senior General Manager, Corporate Communications at Dangote Industries Limited, described the Dangote Refinery as a national landmark that must be cherished and protected by all Nigerians, considering its significant contributions to the national economy since it began refining petroleum products just over two years ago.

Within this short period, the refinery has helped curtail PMS and diesel importation, stabilize the naira, create thousands of jobs, and position Nigeria as a regional energy hub by strengthening the nation’s energy supply chain.

Mr. Esan further stated that Dangote Refinery had saved Nigeria several billions of naira, noting that fuel imports reduced by 1.54% in the first quarter of 2025. He explained that while Nigeria spent $2.6 billion on imports in the first quarter of 2024, the figure dropped to $1.2 billion by the first quarter of 2025.

According to him, “Dangote Refinery has saved Nigeria over ₦10 billion annually in foreign exchange by replacing imports with local production. The refinery has significantly curtailed oil imports. It 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.”

Speaking on capacity, Esan noted that the refinery was reviewing its daily production from 650,000 barrels to 1.4 million barrels. He added that the refinery continues to attract global interest, with ARAMCO one of the world’s largest refiners and U.S. buyers indicating interest in its jet fuel.

The refinery spans an area about seven times the size of Victoria Island in 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.

He added that the 4,000 CNG trucks acquired for distributing refined products have created no fewer than 24,000 jobs.

On the role of the media in energy security, Esan emphasized the need for journalists; particularly NUJ members to set the right agenda and report accurately on issues affecting the energy sector and the general wellbeing of Nigerians.

“We want your members to come and 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.

Responding to Esan’s comments on agenda-setting, NUJ Chairman Mr. Adeleye Ajayi and former National Trustee Mr. Sylva Okereke noted that the Union has consistently set national agendas at both state and federal levels. They emphasized the need for Dangote Group and other stakeholders in the energy sector to remain open to media collaboration.

On his part, Mr. Udeme Akpan, Energy Editor at Vanguard Newspapers and another key speaker at the event, stated that businesses can benefit significantly from strong partnerships with the media, gaining credible information essential for daily decision-making. He challenged the media to uphold credibility in their reporting to strengthen trust with the business community.

Photo Credit : Samuel Gbenga Adetimehin