Cynthia Ezegwu
The Dangote Refinery has announced plans to expand its production capacity from 650,000 barrels per day to 1.4 million barrels per day, in what would make it the largest refinery in the world upon completion.
The President of the Dangote Group, Alhaji Aliko Dangote, disclosed this on Sunday during a press briefing in Lagos, alongside his longtime associate and Chairman of First Bank, Mr. Femi Otedola.
According to Dangote, construction work for the expansion will commence immediately, with completion expected within three years.
He revealed that about 65,000 workers would be engaged for the project, out of which 85 per cent would be Nigerians.
Dangote also announced plans to double the refinery’s power generation capacity from 500 megawatts to 1,000 megawatts, while upgrading production to Euro 6 fuel standards from the current Euro 5 specification.
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He further disclosed that the refinery would be listed on the Nigerian Stock Exchange in 2026, allowing Nigerians to invest and become shareholders in the multibillion-dollar enterprise.
Dangote expressed gratitude to President Bola Tinubu for his support, saying the expansion aligns with the company’s vision to strengthen Nigeria’s energy independence and boost Africa’s refining capacity.
“The expansion is expected to be completed in three years,” he said, adding that the project would create thousands of jobs and stimulate growth in allied industries.