Dangote Refinery Expands to 1.4 Million BPD, Poised to Become World’s Largest Refiner

The President of Dangote Industries Limited, Aliko Dangote, has announced an ambitious plan to expand the Dangote Petroleum Refinery from its current capacity of 650,000 barrels per day (bpd) to 1.4 million bpd, positioning it as the world’s largest single-train refinery.

Speaking at a World Press Conference in Lagos, Dangote said the decision to expand was driven by Africa’s growing energy demands, emerging opportunities in the regional market for cleaner fuels, and Nigeria’s policy reforms that promote local refining.

He described the $20 billion facility as a cornerstone for Africa’s energy independence, stressing that the expansion underscores confidence in Nigeria’s economic future and President Bola Ahmed Tinubu’s vision to make the nation a global supplier of refined petroleum products.

“This expansion reflects our belief in Africa’s potential and our commitment to shaping our own energy destiny,” Dangote said. “With President Tinubu’s support, we are determined to make Nigeria a leading hub for petroleum products.”

Dangote revealed that the expansion project would span three years, financed through a mix of internal cash flow, public listing, and strategic investors. Upon completion, it will surpass India’s Jamnagar Refinery, currently the world’s largest.

He also disclosed plans to increase polypropylene production from 900,000 to 2.4 million metric tonnes per year, alongside greater output of base oils and other petrochemical products. The refinery will also upgrade its output from Euro V to Euro VI fuel standards, ensuring the highest global environmental quality.

Dangote stated that more than 85% of the refinery’s workforce would remain Nigerian, with continuous investment in skill development, technology transfer, and sustainability practices.

Economically, the expansion is expected to strengthen Nigeria’s energy security, reduce foreign exchange spending on fuel imports, and save the country billions of dollars annually. The refinery’s potential revenue could exceed $55 billion per year, making it one of Africa’s most valuable industrial assets.

He further announced plans to list a portion of the refinery’s shares on the Nigerian Exchange (NGX) to promote public ownership and market transparency. “Our main listing will be here in Nigeria,” Dangote said. “We want this to be a true national asset that every Nigerian can take pride in.”

Despite not having recouped its initial investment, Dangote emphasised that the group is focused on long-term transformation, not short-term profits. “Refining is a long-term project. We are expanding because we believe in Africa,” he added.

He assured Nigerians that there would be no fuel scarcity or price hike during the festive season despite global oil price fluctuations. “The Dangote Refinery is fully committed to ensuring steady petrol supply. Nigerians can look forward to a Christmas and New Year free from fuel worries,” he said.

Dangote expressed appreciation to President Tinubu, the Federal and Lagos State Governments, and the refinery’s host community in Lekki for their support. He urged other investors with refinery licences to collaborate in transforming Nigeria into Africa’s refining hub, concluding, “When Africa builds its own capacity, it builds its own destiny.”