…aims to surpass India’s Jamnagar Refinery, achieve $55bn revenue
By Olakunle Oke
President of Dangote Industries Limited, Aliko Dangote, has given reasons why the Dangote Petroleum Refinery aims to double its refining capacity by 2028.
Speaking at a press conference in Lagos on Sunday, the President of Dangote Group, Aliko Dangote, said the expansion reflects confidence in Nigeria’s economic future and aligns with President Bola Tinubu’s vision of positioning the country as a global supplier of refined petroleum products.
The African richest man revealed that the refinery aims to move from 650,000 barrels per day (bpd) to 1.4 million bpd.
He noted that the decision is primarily driven by emerging opportunities across Africa, growing regional demand for cleaner fuels, and Nigeria’s evolving policy environment that encourages local refining.
“We are more than doubling the barrels… to 1.4 million from 650,000. This will make it the largest refinery in the world,” Dangote stated.
He described the project as a testament to Nigeria’s industrial potential and Africa’s capacity to shape its own energy destiny.
Dangote commended the Federal Government for creating policies that have strengthened the downstream sector and encouraged private investment.
He highlighted key initiatives such as the Nigeria First Policy, the Naira-for-Crude Policy, and the One-Stop Shop Initiative as instrumental to the refinery’s progress.
According to him, these policies have fostered industrial growth and provided a stable environment for expansion. He also acknowledged government intervention in resolving recent disruptions at the facility caused by union activities and sabotage attempts.
Dangote said the $20 billion facility, already the largest single-train refinery in the world will more than double its capacity within the next three years, making it a global leader in petroleum refining and a major driver of Africa’s industrial renaissance.
Dangote revealed that the expansion project will be executed over the next three years and will be financed through a mix of cash flow, public listing, and strategic investors. When completed, the refinery will surpass India’s Jamnagar Refinery, currently the world’s largest, cementing Nigeria’s position as a global refining hub.
The business mogul revealed that the expansion would create about 65,000 jobs during the construction phase and boost opportunities for local industries. Beyond refining crude oil, the project will also enhance polypropylene production from 900,000 metric tonnes to 2.4 million metric tonnes per year.
Additional products from the upgraded facility will include base oils and linear alkylbenzene an essential ingredient in detergent manufacturing.
Dangote said the expanded refinery will produce Euro VI-standard fuels, which meet the highest environmental and emission standards worldwide. The upgrade will also increase the refinery’s power generation capacity, ensuring self-sufficiency in operations.
“Our goal has never been just to refine oil, but to refine opportunities for our people,” he added.
Addressing public concerns over fuel scarcity during the year-end festive period, Dangote assured Nigerians of uninterrupted petrol supply despite global price fluctuations.
“For the first time in many years, Nigerians can look forward to a festive season free of fuel anxiety,” he said, pledging stable product flow and prices throughout the ember months.