NIGERIA: Dangote Refinery Expands Production Capacity to 1.4 Million Barrels Per Day

By Ameenat Hamzat, Lagos, Nigeria 

Africa’s largest oil refinery, the Dangote Petroleum Refinery, is set to increase its daily production capacity from 650,000 barrels to 1.4 million barrels per day, making it the largest refinery in the world, according to its President and Chief Executive Officer, Aliko Dangote.

Dangote disclosed this while addressing newsmen in Lagos on Sunday, noting that the expansion reflects the company’s commitment to Nigeria’s energy independence and Africa’s economic growth.

He stated: “The key announcement is that we are expanding the Dangote Refinery from 650,000 barrels per day to 1.4 million barrels per day. This will make it the largest refinery in the world ever.”

Dangote explained that the expansion would require an additional 65,000 workers during the construction phase and would also increase the refinery’s power generation capacity from 500 megawatts to 1,000 megawatts.

He further announced plans to list the refinery on the Nigerian Stock Exchange in 2026, allowing Nigerians to become shareholders.

Dangote buttressed: “We want to give all Nigerians the opportunity of owning parts of the refinery. It’s the right time to put in your savings and join us in this journey.”

The billionaire industrialist added that the expansion project would be financed through cash flow and strategic investors, emphasizing that the company’s long-term goal remains the creation of Africa’s leading integrated energy and petrochemical hub.

“This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential, and our commitment to building energy independence for our continent and the world,” Dangote added.