Dangote to boost Refining capacity to 1.4mbpd
Alhaji Aliko Dangote over weekend unveiled a monumental plan to significantly expand the Dangote Refinery, boosting its capacity from its current 650,000 barrels per day (bpd) to an unprecedented 1.4 million bpd.
This move will make it the largest single-train refinery in the world.
Speaking in Lagos, Mr. Dangote said the expansion, which will surpass India’s Jamnagar Reliance Refinery, reflects immense confidence in Nigeria’s future and the leadership of President Bola Tinubu.
He specifically credited the government’s policy of prioritizing the domestic processing of all crude for export as finished products, calling it a “great revolution to the downstream sector.
“This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential, and our commitment to building energy independence for our continent and the world,” Dangote stated.
The expanded facility is projected to deliver substantial economic and technical benefits, positioning Nigeria as a major global energy supplier: Job Creatio over 65,000 jobs will be created during the construction phase; polypropylene production will jump from 900,000 metric tonnes to 2.4 million metric tonnes per annum, enhancing the production of key industrial ingredients like linear alcohol benzene and base oil; the refinery will transition from producing Euro 5 to Euro 6 fuel standards, meeting the highest global environmental benchmarks and enabling exports to markets including the US and Europe and the refinery’s internal power generation capacity will see a massive expansion from 500 megawatts to 8,000 megawatts.
Mr. Dangote announced that the Dangote Refinery and Petrochemicals complex shares will be listed on the Nigerian Exchange (NGX) within the next year, urging Nigerians to save and own a part of the enterprise.
Addressing the issue of market instability, he promised that the refinery is committed to ensuring “persistent and product flow at stable prices,” aiming to eliminate the price hikes and fuel anxieties commonly experienced during the festive season. He asserted that the quality of the locally refined product is now “totally different” and superior to previous imports.
Dangote urged holders of the 13 unutilized refinery licenses to seize the opportunity to support the President’s vision, asserting that “When Africa builds its own capacity; it builds its own destiny and its future.”
He, however, commended President Bola Ahmed Tinubu for a friendly policy to trivial economic growth of the Nigerian.
