Dangote Refinery to Become World’s Largest as Firm Unveils Three-Year Expansion Plan

Africa’s leading industrialist, Aliko Dangote, has announced an ambitious plan to expand the Dangote Petroleum Refinery’s production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd within the next three years. The move, revealed during a press conference on Sunday, will position the Lagos-based facility as the largest refinery in the world once completed.

Dangote said the expansion reflects the company’s commitment to Africa’s economic growth and energy independence. “This expansion reflects our belief in Africa. It is also about confidence in Nigeria, in the leadership of President Bola Tinubu, and in our capacity to shape our own energy future,” he said.

He explained that the three-year timeline is achievable because the company already has the infrastructure and experience needed to fast-track the process. “We know now where all the dead bodies are buried, and we will try and avoid all those areas. Also, we already have the infrastructure, so it will take us a very short period of time,” he added.

The expansion aims to meet Africa’s growing energy demand and reduce the continent’s dependence on imported refined products. Dangote emphasized that the project will generate billions of dollars in savings and revenue while enhancing Nigeria’s energy security and global competitiveness.

According to him, the project will create about 65,000 jobs during the expansion phase, with over 85 percent of the workforce expected to be Nigerian. “Our goal has been to find opportunities for our people. We are also investing heavily in skills development and technology transfer,” he noted.

Dangote also announced that the refinery will be listed on the Nigerian Exchange Limited (NGX) in 2026, giving Nigerians the opportunity to own shares in the multibillion-dollar facility. “We want to give all Nigerians the opportunity to own a part of the refinery. They can buy as many shares as they need,” he said.

He further explained that the expansion will be financed through internal cash flow and contributions from a few strategic investors. Dangote described the project as a key part of President Bola Tinubu’s vision to make Nigeria a global hub for petroleum refining and energy production.

With the expansion underway, the Dangote Refinery is set to solidify its role as a cornerstone of Africa’s industrial transformation and a symbol of the continent’s growing self-sufficiency in energy production.