Africa’s richest man, Aliko Dangote, has announced that the Dangote Refinery will ramp up production capacity to 1.4 million barrels per day (bpd) within the next three years, making it the largest single-site refinery in the world.
The business mogul said the expansion reflects strong confidence in Nigeria’s future, Africa’s industrial potential, and the leadership of President Bola Tinubu, whose administration has prioritised energy independence and self-sufficiency.
“We are expanding the Dangote refinery from 650,000 barrels per day to 1.4 million barrels per day,” Dangote said. “Upon completion, this will make it the largest refinery in the world, ever—surpassing the Jamnagar refinery, the largest in India.”
He explained that the decision to expand within the existing complex in Lagos rather than acquiring another site was based on cost efficiency, existing infrastructure, and strategic design considerations.
“We already have our own infrastructure and we want to remain where we are to double our capacity,” he said. “It’s better for others to also go and build or acquire refineries so there won’t be talk about monopoly. We all need to contribute to building Nigeria’s $1 trillion economy.”
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Three-year timeline and design advantage
Dangote confirmed that the expansion would be completed within three years, noting that much of the groundwork, such as land reclamation, port construction, and deep-sea infrastructure, had already been done during the first phase.
“This time, it will take us much less time than before because we already have the port, the SPM and the raised land,” he said. “We know now where all the dead bodies are buried,” he added humorously, referring to the experience gained from the initial construction.
Although he declined to disclose the exact cost of the expansion, industry analysts estimate it could be worth several billions of dollars. Dangote said the project would replicate another production line, allowing the refinery to continue operating during maintenance shutdowns.
“By replicating another line, we guarantee that even if one unit shuts down for maintenance, at least 50 per cent of the refinery will still operate,” he said.
Crude supply and policy support
Responding to questions about crude feedstock, Dangote acknowledged the challenges of securing sufficient local supply but expressed optimism that the federal government’s new policy direction would ensure consistent domestic allocation.
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“At 650,000 barrels a day, you struggle to get feedstock,” he said. “But Mr President now has a clear policy to make sure our crude is refined locally. I’m sure the government will not sit back and allow our crude to go abroad while refineries here are idle.”
He noted that Nigeria currently produces about 1.8 million barrels per day, with government plans to raise output to 2.4 million barrels, a level he believes will meet local refining demand.
Jobs, local content, and cleaner fuels
The project is expected to create more than 65,000 jobs during construction and increase the refinery’s power generation capacity from 500 to 1,000 megawatts.
Dangote also disclosed plans to boost polypropylene production from 900,000 metric tonnes to 2.4 million metric tonnes per annum while transitioning from Euro 5 to Euro 6 fuels, which meet the highest global environmental standards.
“Over 85 per cent of our workforce will be Nigerian,” he said. “Our goal has never been just to refine oil, but to refine opportunities for our people.”
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Public listing and fuel stability
In line with its transparency drive, the Dangote Group plans to list the refinery and petrochemicals complex on the Nigerian Exchange (NGX) within the next year, allowing citizens to own shares in the multi-billion-dollar facility.
“We want to give all Nigerians the opportunity of owning part of the refinery,” Dangote said. “This refinery should belong to all Nigerians.”
He also assured that Nigerians would enjoy steady fuel supply and stable pricing, even during the festive season when scarcity and price hikes often occur.
“For the first time in many years, Nigerians can look forward to a festive season free of fuel anxiety,” he said. “With this refinery, we’ve had stable pricing and great quality.”
Dangote thanked the federal and Lagos State governments, host communities, and financial partners for their continued support, adding that the project represents “a bold step toward Africa’s energy independence.”
“This expansion is not just about increasing capacity; it’s about confidence in our people, in the leadership of our country, and in our continent,” he said. “Together, we’re building a stronger Nigeria and redefining what is possible for Africa.”
