The Dangote Refinery is set to more than double its production capacity from 650,000 to 1.4 million barrels per day, which will make it the largest oil refining facility in the world once completed.
This expansion will position the Lagos-based plant ahead of India’s Jamnagar Refinery, currently the world’s largest, and strengthen Nigeria’s role in the global energy market.
Announcing the development at a press conference in Lagos on Sunday, the President of Dangote Group, Aliko Dangote, said the move demonstrates confidence in Nigeria’s economic future and aligns with President Bola Tinubu’s vision of transforming the country into a major hub for refined petroleum products.
"We are more than doubling the barrels to 1.4 million from 650,000. This will make it the largest refinery in the world, surpassing India’s Jamnagar Refinery," he said.
He described the expansion as a bold statement of faith in Africa’s industrial potential, saying, "This expansion is about confidence in Nigeria, in Africa, and in our capacity to shape our own energy future."
Dangote lauded the Federal Government for policies that have encouraged industrialisation and private investment in the downstream sector.
He specifically mentioned the Nigeria First Policy, Naira-for-Crude Policy, and One-Stop Shop Initiative as key drivers of growth.
"These policies have revolutionised the downstream sector and created an enabling environment for private sector participation," he said.
The business mogul also acknowledged the government’s mediation in resolving recent disruptions at the refinery, which he attributed to union-related challenges and sabotage attempts.
The Dangote Refinery, commissioned in 2023, has been hailed as a game changer for Nigeria’s oil industry, expected to massively reduce the nation’s dependence on imported fuel and boost foreign exchange earnings.
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