Yemisi Izuora
Aliko Dangote has been named the 2026 African Energy Person of the Year by the African Energy Chamber, recognizing his role in expanding refining capacity and strengthening energy infrastructure across Africa.
The award highlights Dangote’s long-term investments in industrial development, refining, petrochemicals and energy security through the Dangote Group.
Central to the recognition is the Dangote Refinery near Lagos, Nigeria, which has a planned refining capacity of approximately 650,000 bpd and is considered the world’s largest single-train refinery.
According to the African Energy Chamber, the refinery has helped reduce Nigeria’s dependence on imported refined products while supporting regional fuel supply stability amid ongoing global market volatility and shipping disruptions tied to the Strait of Hormuz crisis.
The chamber also cited Dangote’s broader investments in fertilizer production, logistics infrastructure and African industrialization efforts, as well as ongoing plans to expand refining capacity further in the coming years.
Dangote Group has also discussed additional fuel storage projects outside Nigeria and potential future refining developments elsewhere in Africa.
Meanwhile, Dangote Petroleum Refinery & Petrochemicals has reduced the price of aviation fuel (Jet A1) to N1,650 per litre from N1,750 per litre, in a move aimed at easing cost pressures on airlines and ensuring uninterrupted fuel supply across the country.
This is in addition to a 30-day interest-free credit facility backed by bank guarantees (BG) for marketers and airline operators and a shift from a dollar-denominated pricing structure to a naira-based model.
These interventions come amid growing concerns over the rising operational costs faced by domestic carriers, with aviation fuel accounting for a significant portion of airline expenses. Industry stakeholders have repeatedly warned that escalating Jet A1 prices were placing severe financial strain on operators and threatening the sustainability of flight operations.
The refinery’s decision is expected to provide relief to airline operators by lowering fuel procurement costs, improving operational stability, and supporting efforts to moderate airfares.