Dangote Announces Massive Refinery Expansion, Promises 65,000 Jobs

The Dangote Refinery is set for a major expansion that will double its current capacity from 650,000 barrels per day (bpd) to 1.4 million bpd, making it the largest refinery in the world upon completion.

The announcement was made on Sunday in Lagos by Alhaji Aliko Dangote, President of the Dangote Group, during a press briefing attended by his long-time associate and Chairman of First Bank, Mr Femi Otedola.

“We are expanding the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day,” Dangote stated.

“Upon completion, this will make it the largest refinery in the world, surpassing the Jamnagar Refinery in India.”

Dangote disclosed that construction work for the expansion will begin without delay, adding that the project will generate over 65,000 jobs, with 85 per cent reserved for Nigerians.

He explained that the new phase of the refinery would not only expand production capacity but also significantly enhance local content participation in Nigeria’s oil and gas value chain.

“We’re committed to ensuring Nigerians benefit directly from this project, both in employment and skill development,” he said.

The billionaire industrialist revealed that the refinery’s output would also be upgraded to Euro 6 standard, an improvement from the current Euro 5 specification, aligning with global environmental and quality standards.

In addition, the refinery’s power generation capacity will be doubled, from 500 megawatts (MW) to 1,000 MW, to support operations and enhance grid stability within its host environment.

Dangote further announced plans to list the refinery on the Nigerian Stock Exchange (NGX) by 2026, enabling ordinary Nigerians to own shares in the multibillion-dollar project.

“The refinery will be listed on the stock exchange in 2026, giving Nigerians the opportunity to be shareholders,” he disclosed.

He said this move reflects the company’s long-term commitment to transparency, local ownership, and wealth distribution.

Dangote expressed appreciation to President Bola Tinubu for his continued support, noting that the expansion aligns with the Federal Government’s vision for energy self-sufficiency and industrial growth.

“The expansion is expected to be completed in three years,” he added, assuring that the refinery would maintain its focus on quality, efficiency, and sustainability.

Commissioned in 2023, the $20 billion Dangote Refinery was designed to end Nigeria’s dependence on imported petroleum products by processing crude oil locally.

With its expansion, the facility will not only meet Nigeria’s domestic demand but also serve export markets across Africa and beyond, cementing the country’s place as a refining hub on the global energy map.