Africa’s richest man, Aliko Dangote, has unveiled plans to expand the Dangote Petroleum Refinery’s capacity from 650,000 to 1.4 million barrels per day, a development that will make it the largest refinery in the world and create about 65,000 jobs during the construction phase.
Dangote made the announcement on Sunday during a press conference in Lagos, reaffirming his confidence in Nigeria’s economic prospects and the policy direction of President Bola Ahmed Tinubu’s administration towards achieving energy self-sufficiency and export diversification.
“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, surpassing the Jamnagar Refinery in India,” Dangote stated.
He described the expansion as more than a business milestone, calling it a “bold statement of faith” in Africa’s capacity to shape its own energy destiny. “This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential, and our commitment to building energy independence for our continent and the world,” he added.
Dangote explained that the increased capacity responds to rising regional demand for petroleum products and Nigeria’s reliance on imported fuel. “The new capacity will save the country billions of dollars in foreign exchange and significantly enhance energy security,” he said.
He noted that about 65,000 workers would be required during the construction phase, creating extensive opportunities for local industries. “It reinforces Africa’s capability to build and manage world-class infrastructure,” he added.
The refinery’s polypropylene output will also be scaled up from 900,000 metric tonnes to 2.4 million metric tonnes per annum, strengthening Nigeria’s production of linear alkylbenzene, a vital material for detergents, and base oils for lubricants.
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Dangote further announced that the refinery would transition from producing Euro V to Euro VI fuel standards, meeting the highest global environmental benchmarks, alongside plans to expand its power generation capacity for full operational independence.
Reiterating his dedication to sustainability and local participation, Dangote disclosed that over 85% of the refinery’s workforce would be Nigerians. “We remain committed to safety, sustainability, and local participation at every stage of this expansion. Our goal has never been just to refine oil, but to refine opportunities for our people,” he stated.
He also thanked President Tinubu, the Federal Government, and security agencies for their support, particularly in resolving recent union disruptions and sabotage attempts that threatened refinery operations.
Looking ahead, Dangote revealed plans to list 10% of the Dangote Refinery and Petrochemical Complex on the Nigerian Stock Exchange within the next year to promote transparency and wider investor participation.
“We call on all Nigerians to seize this window to benefit from this golden opportunity. Our long-term goal remains clear to build Africa’s leading integrated energy and petrochemical hub,” he said.
Dangote assured Nigerians of steady fuel supply and stable prices during the festive season despite global market volatility. “For the first time in many years, Nigerians can look forward to a festive season free of fuel anxiety,” he promised.
Dangote urged holders of the remaining 30 refinery licences in Nigeria to support the President’s vision of making the country Africa’s refining hub. “When Africa builds its own capacity, it builds its own destiny,” he said.
