Billionaire entrepreneur Femi Otedola praised Aliko Dangote’s plan to more than double the capacity of the Dangote Petroleum Refinery—from 650,000 barrels per day to 1.4 million barrels per day. Otedola called the investment a legacy that will benefit generations, not only Dangote but all Nigerians and Africans. He lauded Dangote’s commitment to investing in Nigeria and Africa, noting that the project will outlive him and define future generations.
Dangote announced the expansion at a press conference in Lagos, citing emerging opportunities across Africa, growing regional demand for cleaner fuels, and Nigeria’s evolving policy environment as key drivers. Upon completion, the refinery will become the world’s largest and will also boost its polypropylene output from 900,000 to 2.4 million metric tonnes annually, while adding new capacities for linear alkylbenzene and base oils.
Otedola expressed gratitude to President Bola Tinubu for his support and highlighted the private sector’s role in advancing the “Renewed Hope” mandate to build a stronger, self‑reliant Nigeria. The expanded refinery is expected to have a significant impact on the Nigerian economy and the African continent by meeting rising regional demand for petroleum products, reducing reliance on imports, and creating jobs.
Dangote announced that more than 85 % of the workforce for the expanded refinery will be Nigerian, underscoring the project’s potential to benefit the local community. This investment marks a major milestone in Nigeria’s effort to increase refining capacity and curb dependence on imported fuel, which has long strained the country’s foreign‑exchange reserves. The expansion is poised to positively influence Nigeria’s economy and energy sector.
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