Africa's largest refinery, the Dangote Petroleum Refinery, is slated to undergo a historic expansion that will expand output capacity from 650,000 barrels per day (BPD) to 1.4 million BPD over the next three years. When finished, the expansion will make the refinery the world's largest, representing a significant step toward Nigeria's and Africa's energy independence. Alhaji Aliko Dangote, president and CEO of Dangote Industries Ltd., unveiled the initiative on Sunday in Lagos. According to him, the step reflects faith in Nigeria’s potential.
Dangote noted that the project is consistent with President Bola Tinubu's goal of making Nigeria a global supplier of petroleum products.
He praised the president for his supportive initiatives, such as the Nigeria First Policy, the Naira-for-Crude Policy, and the establishment of a one-stop shop for investors, which have boosted industrial growth and investor confidence.
Dangote stated that the development will meet rising regional demand, reduce reliance on petroleum imports, save billions of dollars in foreign currency, and strengthen Nigeria's energy security.
He disclosed that the new facilities would employ more than 65,000 people, creating opportunities in local sectors and strengthening Africa's technical capacity for large-scale infrastructure.
The business magnate also announced intentions to raise polypropylene production from 900,000 metric tons to 2.4 million metric tons per year, improving the local supply of industrial inputs, including linear alkylbenzene for detergent production and base oils.
He stated that more than 85% of the refinery's staff is Nigerian, with continued investments in skill development, safety, sustainability, and technology transfer.
Dangote has unveiled plans to list the Dangote Refinery and Petrochemical Complex on the Nigerian Exchange Ltd. within the next year to encourage wider public participation and strengthen transparency.
He also assured Nigerians of a stable fuel supply throughout the festive season despite the recent rise in global oil prices.
Dangote expressed appreciation to President Bola Tinubu, the Federal and Lagos State Governments, the refinery’s host community in Lekki, financial partners, and the company’s workforce for their unwavering support.
He further encouraged other refinery license holders to join efforts toward realizing the government’s ambition of positioning Nigeria as Africa’s refining hub.
