Dangote Expands Refinery to 1.4 Million bpd, Assures Nigerians of Jobs, Cheaper Fuel

Africa’s richest man and President of Dangote Industries Limited, Aliko Dangote, has announced an ambitious expansion of the Dangote Petroleum Refinery from 650,000 barrels per day (bpd) to 1.4 million bpd, reaffirming his commitment to boost local employment, industrial growth, and energy security in Nigeria.

The announcement comes amid public concern following a dispute involving the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) and PENGASSAN over welfare and staff dismissals.

Dangote, in a statement released over the weekend, clarified that the expansion represents the company’s long-term strategy to strengthen Nigeria’s refining capacity and ensure stability in fuel supply.

“With this expansion, the refinery transitions from producing Euro V to Euro VI fuel standards, meeting the highest global environmental benchmarks,” Dangote said. “More than 85% of our workforce will be Nigerians, with continuous investment in skills development and technology transfer.”

$20 Billion Mega-Refinery to Become World Leader

Valued at over $20 billion, the refinery — already the largest single-train facility globally — will, upon completion, surpass India’s Jamnagar Refinery to become the world’s largest petroleum refining complex.

Dangote revealed that the refinery’s expansion will double its capacity within three years and position Nigeria as a global hub for refined petroleum products, drastically cutting down on foreign exchange outflows.

“This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential, and our commitment to energy independence,” he said. “It also aligns with President Bola Ahmed Tinubu’s vision of making Nigeria a leading global energy supplier.”

Expansion to Boost Power, Jobs, and Industrial Growth

The refinery’s power generation capacity will also be expanded to 1,000 megawatts, ensuring total operational self-sufficiency. Dangote confirmed that the project will create thousands of direct and indirect jobs, enhance polypropylene production from 900,000 to 2.4 million metric tonnes annually, and stimulate small and medium-scale businesses across multiple sectors.

He emphasized that the expansion will not only improve fuel quality but also promote sustainability and local participation.

“Our goal is not just to refine oil, but to refine opportunities for our people,” he added. “The Dangote Refinery is designed to create long-term prosperity for Nigerians.”

Economic Impact and Future Public Listing

Dangote projected that annual revenue from the refinery could exceed $55 billion, describing it as one of Africa’s most valuable industrial assets.

He also reaffirmed plans to list a significant portion of the refinery’s shares on the Nigerian Exchange (NGX) next year, saying it would allow Nigerians to own part of the refinery and share in its success.

“Our main listing will be here in Nigeria to give Nigerians value. We want this to be a national asset in every sense,” he said.

Support from Tinubu Administration

Dangote praised President Bola Tinubu and the Federal Government for supporting industrial reforms such as Nigeria First, Naira-for-Crude, and One-Stop Shop initiatives, noting that such policies have given investors confidence to undertake transformative projects.

He also thanked the government for resolving union-related disruptions at the refinery, describing the collaboration between public and private sectors as “proof that Nigeria is on the right path toward industrial transformation.”

No Fuel Scarcity During Festive Period

Despite rising global oil prices, Dangote assured Nigerians that there would be no fuel scarcity or price hike during the Christmas and New Year festivities.

“The Dangote Refinery is fully committed to maintaining an uninterrupted supply of petrol throughout the festive period. For the first time in years, Nigerians can look forward to a Christmas free of fuel anxiety,” he said.

He added that Nigerian fuel prices remain among the lowest in the region, even as the refinery produces cleaner, higher-quality Euro VI standard fuels that have curbed toxic dumping into local markets.

“Nigerians today buy petrol at roughly half the price of what our neighbours pay,” Dangote noted. “This refinery has already stabilised fuel supply, strengthened the naira, and prevented capital flight.”

A Vision for Africa’s Energy Future

Dangote described the refinery’s expansion as a vote of confidence in Africa’s ability to control its energy destiny, urging other investors with refinery licenses to follow suit.

“When Africa builds its own capacity, it builds its own destiny,” he said. “This expansion is not just about capacity; it is about confidence — in our people, our government, and our continent.”

— © Channels TV / Others