In a major development, the Dangote Refinery has announced plans to boost its crude oil refining capacity from 650,000 barrels per day (bpd) to a remarkable 1.4 million bpd.
The expansion, once completed, will make the Lagos-based facility the largest oil refinery in the world, overtaking India’s Jamnagar Refinery, which currently holds that position.
Speaking during a press conference in Lagos on Sunday, Aliko Dangote, President of the Dangote Group, said the upgrade reflects both the company’s confidence in Nigeria’s economic potential and its alignment with President Bola Ahmed Tinubu’s vision of positioning the nation as a global hub for refined petroleum exports.
“We are increasing our refining capacity from 650,000 barrels per day to 1.4 million. This milestone will make the Dangote Refinery the largest in the world,” Dangote announced.
He further explained that the project demonstrates confidence not just in Nigeria but in Africa’s ability to take charge of its energy future.
Dangote also expressed appreciation to the Federal Government for creating a favorable business environment through policies such as the Nigeria’s First Policy, the Naira-for-Crude Initiative, and the One-Stop Shop Policy — all of which, he said, have significantly transformed the downstream oil sector and attracted more private investment.
He disclosed that recent operational challenges caused by union disputes and sabotage attempts had been swiftly resolved through government intervention, allowing the refinery’s expansion project to proceed without delay.
With the new capacity, the Dangote Refinery is set to play a key role in strengthening Nigeria’s self-sufficiency in fuel production, reducing imports, and turning the country into a major exporter of refined petroleum products.
