Aliko Dangote, Africa’s richest man and President of Dangote Refinery, has announced plans to expand the company’s 650,000-barrel-per-day refinery to 1.4 million barrels per day, aiming to become the world’s largest refinery. This intention was disclosed during a briefing in Lagos on Sunday. If successful, the refinery would surpass the current largest, Jamnagar Refinery in India, which produces 1,240,000 barrels per day.

The expansion project also includes increasing the production of polypropylene from 900,000 metric tonnes to 2.4 million metric tonnes per annum. Although Dangote did not provide a timeline or details on how the ambitious feat would be achieved, the announcement highlights the company’s commitment to growth and dominance in the refining industry.

Recently, Dangote Refinery launched a direct petrol supply scheme, but the company has faced operational setbacks, resulting in delays and non-supply of petrol products to marketers who had made payments. Bloomberg reported on these operational challenges, which have impacted the refinery’s ability to supply petrol in the country. The supply glitch has contributed to skyrocketing petrol retail prices, with filling stations in Abuja dispensing the product at between ₦950 and ₦965 per litre as of Sunday.

The announcement of the expansion plan comes at a critical time for the company, as it seeks to address its current supply challenges and reinforce its position in the market. The planned expansion would not only increase the refinery’s production capacity but also potentially stabilize the supply of petrol products in the country, which could have a positive impact on prices. As Dangote Refinery moves forward with its expansion plans, the company’s ability to overcome its current operational challenges and achieve its ambitious goals will be closely watched by industry stakeholders and consumers alike.