President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has announced an ambitious expansion of the Dangote Refinery’s production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd, making it the largest refinery in the world upon completion.
Speaking at a press conference in Lagos on Sunday, alongside billionaire entrepreneur Femi Otedola, Dangote said the expansion project, scheduled to take three years, will surpass India’s Jamnagar Refinery, which currently holds a capacity of 1.24 million bpd.
“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,” he said.
Dangote disclosed that the construction phase will engage about 65,000 workers, while power generation at the plant will be doubled from 500 megawatts to 1,000 megawatts. He also revealed that the refinery will be listed on the Nigerian Stock Exchange by 2026 to enable public ownership.
“We want all Nigerians to own part of this refinery. It’s time to invest and join us in this journey,” he said.
The expansion will also boost polypropylene output from 900,000 metric tonnes to 2.4 million metric tonnes annually, while transitioning production to Euro VI fuel standards — the world’s highest environmental benchmark.
Over 85% of the refinery’s workforce will be Nigerians, Dangote noted, adding that the company remains committed to sustainability, safety, and local participation.
On crude supply concerns, he dismissed fears of shortages, saying arrangements were in place to ensure stability. “We have worked out our numbers. Crude supply will not be an issue,” he said.
Dangote also challenged the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) to acquire or build refineries instead of relying on importation, saying competition would strengthen the local energy market.
He commended President Bola Tinubu for policies supporting industrialisation and praised government intervention in resolving past disruptions at the refinery.
Stakeholders, including the Independent Petroleum Marketers Association of Nigeria (IPMAN), welcomed the expansion, describing it as a major step toward ensuring fuel availability and ending import dependence. Experts, however, urged strong regulation to prevent monopoly and ensure fair market competition.