Aliko Dangote, President of Dangote Industries Limited, announced plans to expand the Dangote Petroleum Refinery from its current 650,000 barrels per day (bpd) capacity to 1.4 million bpd. The expansion is driven by emerging opportunities across Africa, rising regional demand for cleaner fuels, and Nigeria’s evolving policy environment that encourages local refining. The project, slated for completion within the next three years, will be financed through a mix of cash flow, a public listing, and strategic investors.
The upgraded refinery will shift from producing Euro V to Euro VI fuel standards, meeting the highest global environmental benchmarks. It will also increase its power‑generation capacity to 1,000 megawatts, ensuring complete operational self‑sufficiency. More than 85 % of the workforce will be Nigerians, with ongoing investment in skills development and technology transfer.
The $20 billion facility, already the world’s largest single‑train refinery, will more than double its capacity within three years, positioning it as a global leader in petroleum refining and a major driver of Africa’s industrial renaissance. Dangote estimates that the refinery’s revenue could exceed $55 billion annually, making it one of the most valuable industrial assets on the continent. The expansion will create additional jobs, support thousands of SMEs, and deepen the industrial base.
Dangote expressed gratitude to President Bola Ahmed Tinubu and the Federal Government for supporting industrialisation policies that have emboldened investors to undertake transformative projects. He also commended the government’s intervention in mediating recent disruptions at the refinery linked to union activity and sabotage attempts. Despite recent global price increases, Dangote assured the public that there will be no fuel scarcity or price hikes during the festive season, and the refinery remains committed to an uninterrupted supply of petrol.
The company also praised its host community in Lekki and its financial and technical partners for their continued support. The expansion is expected to strengthen Nigeria’s energy security, reduce foreign‑exchange outflows, and save the country billions of dollars annually that would otherwise be spent on importing refined products. Dangote called on other investors holding refinery licences to emulate this example and collaborate in achieving President Tinubu’s vision of making Nigeria the refining hub of Africa. With this project, he is confident that Nigeria will emerge as one of the world’s major suppliers of petroleum products.
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