The Dangote Refinery has announced an expansion of its facility from 650,000 barrels per day to 1.4 million barrels per day. The President of the Dangote Group, Alhaji Aliko Dangote, announced at a press briefing in Lagos on Sunday.
Flanked by his friend, the Chairman of First Bank, Mr Femi Otedola, Dangote said this would make the refinery the largest in the world. According to him, the construction work for the expansion is expected to begin without further delay.
“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,” he said. He added that 65,000 workers would be needed for the construction exercise, and 85 per cent would be Nigerians. Dangote said that the refinery would also ramp up its power generation from 500MW to 1,000 MW.
He also stated that the refinery would produce Euro 6 standard, up from the current Euro 5 spec. Dangote noted that the refinery would be listed on the stock exchange in 2026, giving Nigerians the opportunity to be shareholders. The billionaire businessman appreciated President Bola Tinubu for his support.
“The expansion is expected to be completed in three years”, he said.
