Dangote to expand refinery production capacity 1.4m bpd

The founder of Dangote Group, Aliko Dangote on Sunday disclosed that the Dangote Petroleum Refinery is expanding its production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd, making it the largest refinery in the world, surpassing India’s Jamnagar refinery.

The billionaire industrialist announced the proposed expansion at a press conference.

Dangote said the expansion will make the refinery the “largest in the world,” surpassing other existing facilities.

“This expansion reflects our belief in Africa. It is also about confidence in Nigeria, in the leadership of President Bola Tinubu, in Africa, and in our capacity to shape our own energy future,” he said.

Dangote said the expansion process will take three years to complete.

“We know now where all the dead bodies are buried, and we will try and avoid all those areas,” he said.

“Also, we already have the infrastructure. So, it will take us a very short period of time,”he said. Dangote expressed deep appreciation to President Bola Ahmed Tinubu and the Federal Government for policies such as Nigeria’s First, Naira-for-Crude, and One-Stop Shop which have strengthened industrialisation.

Dangote said the proposed expansion is in a bid to meet African demands and reduce import dependence.

He added that when completed, the refinery would “save and generate billions in dollars and guarantee energy security”.

The industrialist said at least 65,000 workers will be required for the expansion project.

“Over 85 percent of workforce will be Nigerian, with ongoing investment in skills and transfer,” he added.

“Our goal has been to find opportunities for our people.”

Dangote said the refinery would be listed on the Nigerian Exchange Limited (NGX) in 2026, adding that all Nigerians will be able to purchase shares.

“We want to give all Nigerians the opportunity to own a part of the refinery. They can buy as many shares as they need,” he said.

Dangote added that the project will be financed through cash flow, “and we also have one or two strategic investors”.