Tinubu, Gates Tour $20B Dangote Refinery, Open Lekki Port Road

When Bola Ahmed Tinubu, President of Nigeria stepped onto the sprawling complex of the Dangote Refinery on June 5, 2025, the scene felt like a backstage pass to a new industrial era. The $20 billion plant, owned by Aliko Dangote, Africa’s richest man, sits in the Lekki Free Trade Zone on Lagos’s Atlantic coast. Beside Tinubu, the entourage included American philanthropist Bill Gates and a handful of Nigeria’s most influential business figures.

The gathering marked a milestone that Femi Otedola, chairman of First HoldCo, described as "the eighth wonder of the modern era." Otedola posted the sentiment on X on June 7, noting that the refinery is the world’s single‑largest single‑train facility. In the same breath, he hailed Tinubu’s decades‑old vision of an Atlantic‑coast economic powerhouse finally materialising.

Background of the Dangote Refinery Project

Construction began in 2016 under the umbrella of Dangote Group. After a series of delays—mostly stemming from financing hiccups and pandemic‑related supply chain snags—the plant officially opened its doors in 2023, though full capacity ramp‑up is expected by 2026. The refinery boasts a crude‑oil processing capacity of 650,000 barrels per day, eclipsing the combined capacity of Nigeria’s older refineries and slashing the country’s reliance on imported gasoline.

Economists estimate the project will generate roughly 5,000 direct jobs and another 30,000 indirect positions across logistics, services and ancillary manufacturing. The government’s fiscal models predict a reduction in fuel import bills of about $7 billion annually once the refinery runs at full tilt.

Tinubu's Visit: What Unfolded

The visit was formally recorded as Visit to Dangote Refinery and Lekki Port Road CommissioningLagos, Nigeria. After a brief tour of the distillation units, Tinubu addressed a small crowd of journalists and business leaders, declaring the refinery "a great point of reference, a massive investment and a phenomenon of our time." He thanked Dangote personally, adding that the plant serves as a tangible proof of the government's commitment to industrialisation.

Beyond the refinery, the President also commissioned the newly completed access road to the Lekki Deep Sea Port. "I am happy that the Deep Sea Port I initiated as Governor of Lagos State is a huge success today," Tinubu said, noting that the road will save importers up to 30 percent on logistics costs by eliminating the need for trans‑shipment.

Key Players and Their Perspectives

Abdul Samad Rabiu, chairman of BUA Group and long‑time rival of Dangote, was also on site. While the two moguls have often competed for market share in cement and sugar, both men applauded the infrastructure boost, hinting at possible collaborations on ancillary petro‑chemical projects.

Bill Gates, present in a low‑key suit, kept his remarks brief but pointed. "Investments like this are exactly the kind of private‑sector confidence we need to see a sustainable energy future in Africa," he told a small press gathering. Gates’ foundation has previously funded clean‑energy pilots in Nigeria, but he stopped short of announcing a new partnership.

Otedola, meanwhile, painted a broader picture. "Tinubu’s vision from two decades ago—an Atlantic‑coast hub—has materialised in steel, concrete and ambition," he wrote. He praised the quality of construction work by Dangote Industries Limited and the subcontractor Hitech Construction Company Limited, calling the roads a "tax‑credit road programme" success story.

Infrastructure Milestones: Lekki Port Road and Beyond

The newly paved highway links the refinery directly to the Lekki Deep Sea Port, shortening travel time for crude oil shipments from the port to the plant by roughly 45 minutes. Transport analysts estimate that the route will cut freight costs by up to $200 million per year for the refinery alone.

In addition to the main artery, Tinubu launched a reconstruction programme for access roads stretching through Epe and Ijebu‑Ode. The upgrades aim to smooth the flow of raw materials for future downstream projects, including a planned petro‑chemical complex adjacent to the refinery.

Implications for Nigeria's Economy

The economic ripple effect could be profound. By slashing fuel imports, the government expects a trade‑balance improvement of about 1.5 percent of GDP annually. Moreover, local refining capacity reduces exposure to volatile global oil prices, offering a buffer against future shocks.

Industry watchers also see the project as a catalyst for foreign direct investment (FDI). Since the refinery became operational, FDI inflows into Nigeria’s manufacturing sector have risen by 22 percent, according to the Central Bank’s latest quarterly report.

Looking Ahead: What’s Next?

Dangote has hinted at expanding the complex with a downstream petro‑chemical hub, potentially adding a polyethylene plant that would further deepen the value chain. Tinubu’s administration has pledged to fast‑track regulatory approvals for such projects, signalling a policy shift toward a more industrial‑focused growth model.

Critics, however, caution that sustained success hinges on stable electricity supply and clear land‑use policies. The upcoming 2026 budget will be closely watched for allocations that address these bottlenecks.