The Dangote Refinery has announced plans to increase its capacity from 650,000 barrels per day to 1.4 million barrels per day.
Alhaji Aliko Dangote, president of the Dangote Group, made the news during a press briefing in Lagos on Sunday.
Dangote, flanked by his friend and First Bank Chairman Mr. Femi Otedola, stated that this would make the refinery the world’s largest.
According to him, development on the expansion is anticipated to begin immediately.
“We are expanding the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day.
“Upon completion, this will make it the largest refinery in the world, surpassing the Jamnagar Refinery in India,” he said.
He stated that 65,000 people would be required for the construction project, with Nigerians accounting for 85 percent of the total.
He also stated that the refinery’s electricity generation capacity would increase from 500 MW to 1,000 MW.
He also indicated that the refinery would produce Euro 6 standard, an upgrade from the current Euro 5 spec.
Dangote announced that the refinery would be placed on the stock exchange in 2026, allowing Nigerians the option to become shareholders.
The millionaire businessman thanked President Bola Tinubu for his support.
“The expansion is expected to be completed in three years,” he said.
