Dangote refinery set for massive expansion, eyes global supremacy

In a bold move set to reshape the global energy landscape, Africa’s richest man, Alhaji Aliko Dangote, has announced plans to expand the Dangote Petroleum Refinery’s capacity from 650,000 barrels per day to a staggering 1.4 million barrels per day.

Speaking at a press briefing in Lagos on Sunday, Dangote—flanked by First Bank Chairman and longtime ally, Mr. Femi Otedola—declared that the expansion would position the refinery as the largest in the world, overtaking India’s Jamnagar Refinery.

“We are expanding the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day. Upon completion, this will make it the largest refinery in the world,” Dangote said.

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Construction is expected to kick off immediately, with a workforce of 65,000 slated for the project. Dangote emphasized that Nigerians would make up 85 percent of the labour force, underscoring the initiative’s potential to boost local employment.

The refinery’s power generation capacity will also double—from 500 megawatts to 1,000 megawatts—while fuel output will upgrade to the Euro 6 standard, a leap from the current Euro 5 specification.

In a move aimed at democratizing ownership, Dangote revealed that the refinery would be listed on the Nigerian Stock Exchange by 2026, giving citizens an opportunity to invest in the landmark venture.

He expressed gratitude to President Bola Tinubu for his unwavering support, noting that the expansion is expected to be completed within three years.

With this development, Nigeria’s refining capacity is set to enter a new era—one that could redefine its role in the global oil market.

Dangote refinery set for massive expansion, eyes global supremacy