The President and Chief Executive of Dangote Petroleum Refinery has announced a major expansion of the refinery’s daily production capacity from 650,000 barrels per day to 1.4 million barrels per day, making it the largest refinery in the world.
Speaking to journalists in Lagos on Sunday, he described the move as a reflection of confidence in Nigeria’s economic future and Africa’s energy potential. “The key announcement is that we are expanding the Dangote Refinery from 650,000 barrels per day to 1.4 million barrels per day. This will make it the largest refinery in the world ever. 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,” he said.
He disclosed that the refinery’s expansion phase will create an additional 65,000 jobs during construction, further boosting employment and local capacity development.
The refinery will also double its power generation capacity from 500 megawatts to 1,000 megawatts to support operations and surrounding communities.
In a move towards public ownership, Dangote revealed plans to list the refinery on the Nigerian Stock Exchange in 2026, allowing citizens to become shareholders. “That’s a step towards broader ownership and market transparency. We want to give all Nigerians the opportunity of owning parts of the refinery. You can buy as many shares as you can. Therefore, we are making sure that this refinery belongs to all Nigerians. I think it’s the right time to put in your savings and join us in this journey,” he stated.
According to him, the expansion will be financed through internal cash flow, alongside support from one or two strategic investors. He reaffirmed the long-term vision of establishing Africa’s leading integrated energy and petrochemical hub, a first of its kind on the continent.
For small businesses and suppliers, the refinery’s scale-up is expected to open new opportunities across logistics, construction, manufacturing, and service sectors, positioning the project as a key driver of industrial growth and job creation in Nigeria’s evolving energy landscape.
