Dangote Refinery to become world’s biggest, plans 1.4 million bpd processing capacity

• Over 65,000 workers to be engaged in the refinery’s expansion phase, with 85 per cent being Nigerians.
• The refinery to list on the Nigerian Exchange Limited in 2026, allowing citizens to buy shares.

The founder of Dangote Group, Aliko Dangote, has announced an expansion that will raise the Dangote Petroleum Refinery’s output from 650,000 barrels per day to 1.4 million barrels per day.

The announcement was made at a press conference on Sunday.

Dangote said the upgrade will position the facility above several existing refineries worldwide.

He described the plan as an expression of confidence in Africa and in Nigeria’s current leadership.

Dangote added that the scheme is intended to help the continent manage more of its own energy needs.

He gave a three-year timeline for completing the work.

The project will make use of already established infrastructure to speed construction, he noted.

“It is President Bola Tinubu’s dream for Nigeria to emerge as one of the major petroleum hubs in the world,” he said.

Dangote said the expansion aims to meet growing demand within Africa and cut reliance on imported refined products.

He predicted that the enlarged refinery would save and generate billions of dollars and strengthen national energy security.

The businessman said the build-out will require about 65,000 workers during the expansion phase.

He added that more than 85 per cent of those jobs will be filled by Nigerians, with ongoing investment in skills transfer.

“Our goal has been to find opportunities for our people,” Dangote added.

He announced plans for the refinery to be listed on the Nigerian Exchange Limited in 2026.

According to him, the listing will allow Nigerians to buy shares and take ownership stakes in the refinery.

“We want to give all Nigerians the opportunity to own a part of the refinery. They can buy as many shares as they need,” he said.

Dangote said the enlargement will be funded mainly from internal cash flow alongside one or two strategic investors.

He emphasised that the initiative fits a wider aim of raising Nigeria’s profile in the global energy sector.