Dangote Refinery to Boost Capacity from 650,000 to 1.4 Million Barrels Daily, Set to Become World’s Largest

The Dangote Petroleum Refinery has unveiled plans to more than double its processing capacity, from 650,000 barrels per day (bpd) to 1.4 million bpd, a move that will make it the largest refinery in the world once the expansion is completed.

The announcement was made by the President of Dangote Group, Alhaji Aliko Dangote, during a media briefing in Lagos on Sunday, attended by Femi Otedola, Chairman of First Bank.

> “We are expanding the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day. Upon completion, it will surpass the Jamnagar Refinery in India and become the largest in the world,” Dangote said.

According to him, construction work for the expansion will begin immediately and is expected to engage about 65,000 workers, 85 percent of whom will be Nigerians.

Dangote added that the refinery’s power generation capacity would also be doubled from 500MW to 1,000MW, while production standards will be upgraded from Euro V to Euro VI, a higher global environmental standard for refined fuel.

The industrialist further revealed that Polypropylene production will rise from 900,000 metric tonnes to 2.4 million metric tonnes annually, enhancing the production of linear alkylbenzene, a key raw material in detergent manufacturing. The upgrade will also enable additional production of base oils, expanding Nigeria’s petrochemical output.

In a significant development, Dangote disclosed that the company intends to list the refinery on the Nigerian Stock Exchange (NSE) in 2026, allowing Nigerians to own shares in the multibillion-dollar energy project.

Dangote expressed gratitude to President Bola Tinubu for his continued support, noting that the expansion project is expected to be completed within three years.

Fuel Market Update: Landing Cost of Imported Petrol Falls

Meanwhile, the landing cost of imported Premium Motor Spirit (PMS) has slightly decreased, dropping from ₦849.61 to ₦839.97 per litre, according to new data from the Major Energies Marketers Association of Nigeria (MEMAN).

Despite the decline, the reduction has not yet reflected in pump prices, as depot owners have maintained high gantry rates. As of Thursday, petrol still sold at about ₦915 per litre in many filling stations.

Former President of the Nigerian Association for Energy Economics (NAEE), Prof. Wunmi Iledare, said the nation’s economy remains burdened by the lingering effects of COVID-19, subsidy removal, and the floating of the naira.

He emphasized that Nigeria’s heavy dependence on imported fuel continues to destabilize the market, stressing that with sound governance and full domestic refining capacity, petrol prices could drop to around ₦800 per litre.

With this bold expansion, the Dangote Refinery aims to redefine Nigeria’s position in global energy production, transforming the nation from an oil importer to a major refined product exporter and strengthening its economic independence.