The over $20 billion Dangote Petrol-Chemical Refinery in Lekki, Lagos has announced its planned increase in production from 650,000 barrels per day to 1.4 million barrels per day.
The facility will be the largest refinery in the world on completion of the expansion project, surpassing the Jamnagar Refinery in India
President of the Dangote Group, Aliko Dangote who revealed this at a press conference in Lagos on Sunday, said the move reflects confidence in Nigeria’s future and aligns with President Bola Ahmed Tinubu’s vision of making the country a global supplier of refined petroleum products.
“We are more than doubling the barrels… to 1.4 million from 650,000,” Dangote revealed
“This will make it the largest refinery” in the world, surpassing India’s Jamnagar Refinery, he said.
“This expansion is about confidence in Nigeria, in Africa, and in our capacity to shape our own energy future," he added
Dangote commended the Federal Government for its support and for implementing policies that have spurred industrial growth, including Nigeria’s First Policy, Naira-for-Crude Policy, and One-Stop Shop Initiative.
He said these policies have revolutionised the downstream sector and encouraged private investment in local refining.
According to him, government mediation also helped resolve recent disruptions at the refinery, which were linked to union activities and sabotage attempts.
The business mogul revealed that the expansion project would generate about 65,000 jobs during the construction phase and open new opportunities for local industries.
In addition to refining crude oil, the project will boost polypropylene production from 900,000 metric tonnes to 2.4 million metric tonnes per annum, alongside the production of base oils and linear alkylbenzene, a key ingredient for detergents.
The upgraded facility will produce Euro VI-standard fuels, meeting the world’s highest environmental and emission standards. It will also increase power generation capacity, ensuring operational self-sufficiency.
“Our goal has never been just to refine oil, but to refine opportunities for our people,” he added.
Addressing concerns over potential fuel shortages during the year-end festive period, Dangote assured Nigerians of an uninterrupted petrol supply despite recent fluctuations in global oil prices.
He said the refinery was fully prepared to maintain consistent product flow and stable prices throughout the ember months.
“For the first time in many years, Nigerians can look forward to a festive season free of fuel anxiety,” he assured.
The Dangote Refinery was inaugurated in May 2023 by former President Muhammadu Buhari.
At the inauguration, Buhari described the establishment of the refinery in Lagos State as a game-changer and milestone for Nigeria’s economy.
The refinery, however, did not start production until January 2024 with the delivery of six million barrels of crude supply to the refinery.
Since it started operation, the Dangote Refinery has been supplying local and international petroleum markets with its products.
The operation of the refinery has also boosted domestic supply and reduced petrol importation in Nigeria.
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