Africa’s richest man, Aliko Dangote, has announced an expansion of the Dangote Petroleum Refinery, increasing its capacity from 650,000 to 1.4 million barrels per day, a move that will make it the largest refinery in the world and create about 65,000 jobs during the construction phase.
Dangote disclosed this on Sunday during a press conference in Lagos, Southwest Nigeria, where he reaffirmed his confidence in Nigeria’s economic future and President Bola Ahmed Tinubu’s policy direction toward 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,” he said.
Dongote said that the expansion reflects not just business growth but 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. It’s about confidence in Nigeria, in Africa, and in our capacity to shape our own energy future,” he emphasised.
Imports Reduction
Dangote explained that “the increase in capacity is in direct response to rising regional demand for petroleum products and Nigeria’s continued reliance on imported refined fuel. The new capacity will save the country billions of dollars in foreign exchange and significantly enhance energy security.”
“With this expansion, we would require 65,000 workers during construction, and such a project will further unlock opportunities for local industries. It reinforces Africa’s capability to build and manage world-class infrastructure.”
The refinery’s ongoing polypropylene production will also be scaled up from 900,000 metric tonnes to 2.4 million metric tonnes per annum, boosting Nigeria’s capacity for producing linear alkylbenzene, a vital raw material for detergents and base oils for the lubricant industry.
With the expansion, Dangote emphasised that the refinery would transition from producing Euro V to Euro VI fuel standards, meeting the highest global environmental benchmarks.
Additionally, he announced plans to expand power generation capacity to ensure full operational self-sufficiency.
Sustainability
The business mogul reiterated his commitment to local content and workforce empowerment, revealing that over 85% of the refinery’s workforce will be Nigerians.
The company is also investing heavily in skills development and technology transfer to build domestic capacity for future industrial projects.
“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,” Dangote promised.
He also expressed deep appreciation to President Tinubu, the Nigerian Government, and security agencies for their continued support, especially for policies encouraging domestic crude processing and the export of finished petroleum products.
Dangote commended the Nigerian Government for its role in resolving recent challenges linked to union disruptions and sabotage attempts, which could have slowed the refinery’s operations.
Market Expansion
Looking ahead, Dangote revealed plans to list 10% of the Dangote Refinery and Petrochemical Complex on the Nigerian Stock Exchange within the next year.
The move, he said, would promote broader ownership, transparency, and investor participation in what is already the most significant private industrial investment in Africa.
“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, the first of its kind on the continent,” Dangote stated.
He assured Nigerians that the refinery would maintain steady fuel supply and stable prices throughout the festive period, even amid recent global oil price fluctuations.
“For the first time in many years, Nigerians can look forward to a festive season free of fuel anxiety. Our goal is to ensure consistent product flow at stable prices, eliminating the disruptions and exploitation that have become common during the ember months,” Dangote promised.
Read also: African Ambassadors Push for Industrial Revolution, Hail Dangote Refinery
Building Africa
Dangote used the occasion to call on holders of the remaining 30 refinery licences to support President Tinubu’s vision of making Nigeria the refining hub of Africa.
He further stated that when Africa builds its own capacity, it builds its own destiny. “This expansion is not just about increasing capacity; it’s about confidence in our people, our country, and our continent,” he said.
As the refinery expansion continues, Dangote’s project stands not only as a symbol of industrial ambition but also as a blueprint for Africa’s economic transformation, one anchored on local value addition, regional trade, and sustainable energy growth.