The Dangote Refinery has revealed plans to increase its production capacity from 650,000 barrels per day to 1.4 million barrels per day.
Dangote Group President, Alhaji Aliko Dangote, made the disclosure during a press conference held in Lagos on Sunday.
Accompanied by his friend, First Bank Chairman Mr. Femi Otedola, Dangote stated that the expansion would make the facility the largest refinery in the world.
He added that construction work on the expansion project is set to commence 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 added that 65,000 workers would be needed for the construction exercise, and 85 per cent would be Nigerians.
Dangote added that the refinery would also ramp up its power generation from 500MW to 1,000 MW.
He also stated that the refinery would produce Euro 6 standard, up from the current Euro 5 spec.
Dangote noted that the refinery would be listed on the stock exchange in 2026, giving Nigerians the opportunity to be shareholders.
The billionaire businessman appreciated President Bola Tinubu for his support.
“The expansion is expected to be completed in three years”, he said.