Africa’s richest man, Aliko Dangote, has announced plans to expand the capacity of the Dangote Refinery from its current 650,000 barrels per day (bpd) to a staggering 1.4 million bpd , a move that will make the Lagos-based facility the largest refinery in the world when completed.
Dangote made the announcement during a press briefing on Sunday, revealing that the expansion is part of the company’s long-term strategy to make Nigeria self-sufficient in refined petroleum products and to position the country as a major exporter of fuel and petrochemicals.
“We are more than doubling our capacity from 650,000 barrels per day to 1.4 million barrels per day. When completed, this will make the Dangote Refinery the largest in the world,” Dangote said.
The expansion will see the facility surpass the Jamnagar Refinery in India, currently the world’s largest, and further establish Nigeria as a global energy hub.
According to Dangote, the refinery’s upgraded operations will produce Euro VI-standard fuels, aligning with global environmental standards, while also expanding its petrochemical output, including polypropylene and base oils.
The billionaire industrialist added that the project will create tens of thousands of new jobs during construction and operation phases, boost foreign exchange earnings through exports, and significantly reduce Nigeria’s dependence on imported petroleum products.
Dangote praised the Federal Government for creating a supportive investment environment through reforms such as the “Nigeria First” initiative and the “Naira-for-Crude” policy, which he said have helped encourage private sector participation in the downstream oil sector.
Industry observers say the expansion, if achieved, will transform Nigeria’s energy landscape, ease fuel scarcity, and strengthen the naira by reducing foreign exchange outflows on refined fuel imports.
The Dangote Refinery, located in the Lekki Free Trade Zone, Lagos, began operations earlier this year and currently supplies diesel, aviation fuel, and other refined products to both domestic and regional markets.
With the planned expansion, Nigeria is set to take a commanding position in the global refining map, marking a new era in Africa’s industrial and economic development.
