Dangote plans a huge refinery expansion to boost Nigeria’s fuel supply and energy independence.
He says increased capacity will create jobs, reduce imports and strengthen industrial growth.
The Dangote Petroleum Refinery is gearing up for a major expansion that will almost double its output from 650,000 barrels per day to 1.4 million barrels per day, positioning the facility as the largest oil refinery globally within three years.
Aliko Dangote, President and Chief Executive of Dangote Industries Limited, disclosed the ambitious plan on Sunday in Lagos, saying the upgrade is aimed at strengthening Nigeria’s energy self-reliance while transforming Africa’s petroleum market.
He said the decision demonstrates a firm belief in the country’s economic prospects and the continent’s potential.
According to him, the project is “a statement of faith in Nigeria and in Africa a commitment to build our own energy future rather than depend on others.” He described the upgrade as a significant step toward securing the region’s fuel needs and shaping its role in the global energy landscape.
Dangote noted that the initiative aligns with the administration’s drive to make Nigeria a major exporter of refined products. He applauded President Bola Ahmed Tinubu for policy reforms including the Nigeria First initiative and improved investor frameworks which he said are boosting industrial development and encouraging fresh capital inflows.
The refinery boss said the expansion will help meet growing regional demand, reduce costly petroleum imports, enhance energy security, and conserve billions of dollars in foreign exchange.
Construction activities for the new phase are expected to generate over 65,000 jobs and accelerate growth in local manufacturing by increasing domestic requirements for materials and services.
The plan also includes raising polypropylene production to 2.4 million metric tonnes annually, supporting sectors such as detergent and lubricant manufacturing through improved access to raw materials.
Dangote added that the refinery will fully transition to Euro VI fuel specifications considered the cleanest globally while expanding internal power generation to maintain self-sufficiency.
He emphasized that Nigerians make up more than 85 percent of the workforce and that continuous investment is being directed into training, technology transfer, safety, and environmental compliance.
“Our mission extends beyond refining crude oil,” he stated. “It is about refining opportunities for Nigerians and empowering our industries.”
He revealed that the company intends to list the refinery and petrochemicals complex on the Nigerian Exchange within the next year to expand public participation and strengthen corporate transparency.
Dangote also provided assurances of a stable fuel supply during the upcoming holiday season, promising that Nigerians would not face the usual scarcity or sudden price spikes.
He acknowledged President Tinubu, Lagos State authorities, the Lekki host community, financial partners, and the company’s workforce for their support throughout the project’s execution.
Looking ahead, he urged other refinery license holders to partner in building a continent-wide refining network, remarking that Africa’s economic future becomes stronger when it controls its own energy resources.
