Advocates for low importation…
Vice President Kashim Shettima says the Dangote Petroleum Refinery is placing Nigeria on the path to becoming a net exporter of refined petroleum products.
Shettima made the statement on Thursday while speaking at the High-Level Accra Reset Initiative meeting on the sidelines of the 2026 World Economic Forum (WEF) Annual Meeting in Davos, Switzerland.
According to him, the Lagos-based refinery, Africa’s largest single-train facility, marks a major break from Nigeria’s long dependence on imported fuel and shows what African-led industrial investment can achieve.
“After decades as a net importer of value, Nigeria is on the verge of becoming a net exporter of refined fuel, powered by Africa’s largest refinery in Lagos, the Dangote Refinery,” Shettima said.
“Africa cannot rise on applause alone. We rise when we build.”
He said the development underscores the need for strong local production, noting that sustainable prosperity cannot be imported but must be built through industry, infrastructure and clear policies.
ALSO READ: Dangote refinery offers credit facility to oil marketers
The Vice President also noted that Africa’s manufacturing share of GDP has declined over the years, but said the continent has an opportunity to close the gap through technology and innovation.
Describing the Accra Reset Initiative as a platform to rethink Africa’s future, Shettima said Nigeria’s experience shows that “wealth created from within is enduring,” while dependence on external aid remains fragile.
His remarks have added to growing optimism that the Dangote Refinery could strengthen Nigeria’s energy sector, boost foreign exchange earnings and position the country as a key player in regional fuel markets.