The Coalition of Yoruba Youth and Students Movement (COYSYM) has passed a vote of confidence in the Dangote Petroleum Refinery and its President, Alhaji Aliko Dangote, commending the facility’s contribution to Nigeria’s domestic refining capacity and energy security.
The group said the refinery’s growing role in the domestic petroleum industry had become particularly significant amid pressures in the international crude oil market and concerns over global energy supply.
In a statement signed by its National President, Comrade Olalere Benedict Adetunji, COYSYM noted that developments in the global oil market, including rising crude oil prices, geopolitical tensions and supply disruptions, could have implications for the cost of refined petroleum products, transportation and wider economic activities.
Against this backdrop, the organisation said the presence of a large-scale refinery operating locally provides Nigeria with greater capacity to respond to international market disruptions and reduce its dependence on imported refined petroleum products.
COYSYM also acknowledged that the pricing of petroleum products is influenced by several factors, including crude oil prices, foreign exchange conditions, logistics, refining costs and international product benchmarks.
It therefore called for public discussions on fuel prices to be guided by economic realities and verifiable facts rather than political sentiments.
The group further noted that the recent increase in global crude oil prices had underscored the importance of domestic refining, adding that the Dangote Refinery’s continued large-scale operations represented a strategic advantage for Nigeria amid volatility in the international energy market.
COYSYM commended Dangote and the management of Dangote Industries for what it described as their vision, courage and long-term investment in establishing the refinery, noting that the project had contributed to strengthening Nigeria’s industrial and refining capacity.
According to the organisation, the broader economic significance of the investment extends beyond petroleum refining to employment generation, industrial activity, energy security and the potential for Nigeria to become a major exporter of refined petroleum products within Africa.
It also cited reports indicating that the refinery had reached full capacity and that Dangote Industries was pursuing an expansion programme that could increase its refining capacity to approximately 1.4 million barrels per day by 2029.
Dangote Symbol of Private-Sector Patriotism COYSYM
The coalition described Dangote’s investment in the refinery, petrochemicals and related industries as an example of what it called “private-sector patriotism,” arguing that national development should not be measured solely by government policies but also by long-term investments by Nigerian entrepreneurs.
“Alhaji Aliko Dangote deserves commendation for committing enormous capital to an industrial project of strategic national importance,” the group said.
While acknowledging that the Dangote Refinery remains a private commercial enterprise operating within market realities, COYSYM urged businesses of strategic importance to maintain transparency, fairness and sensitivity to consumers.
COYSYM Names Dangote ‘Man of the Year 2026’
In recognition of what it described as Dangote’s contributions to Nigeria’s industrial development, energy security and economic transformation, COYSYM announced Alhaji Aliko Dangote as its “Man of the Year 2026”, subject to the organisation’s formal award and recognition process.
The group said the proposed recognition was not based solely on Dangote’s wealth or business success but on the broader significance of investments in productive capacity, industrialisation, employment creation and the ability of Nigerian-owned businesses to compete globally.
COYSYM also called on Nigerians, particularly young people, to support productive investment, entrepreneurship, innovation and industrial development while demanding accountability, transparency and responsible corporate conduct from public and private institutions.
The organisation urged the Federal Government and relevant regulatory authorities to create an enabling environment for domestic refineries and other productive industries to thrive, while ensuring adequate consumer protection.
It said Nigeria must progressively transition from a predominantly consuming economy to a productive one, stressing that the country’s long-term energy security should not depend solely on imported petroleum products.
“‘The future of Nigeria’s energy security cannot depend solely on imported petroleum products. The country must continue to strengthen domestic refining, local production, industrial capacity and value addition,” the statement added.
COYSYM reaffirmed its commitment to constructive advocacy, economic patriotism and policies that place the long-term interests of Nigerian youths, students and citizens at the centre of national development.
