The Dangote Petroleum Refinery is about to develop into the world’s largest oil refining facility, because the Dangote Group on Sunday introduced plans to broaden its manufacturing capability from 650,000 barrels per day (bpd) to 1.4 million bpd.
President of the Dangote Group, Aliko Dangote, disclosed this throughout a press convention in Lagos, saying the formidable enlargement underscored renewed confidence in Nigeria’s {economic} future and aligns with President Bola Tinubu’s imaginative and prescient of creating the nation a world hub for refined petroleum merchandise.
“We’re greater than doubling the barrels… to 1.4 million from 650,000,” Dangote informed journalists. “It will make it the most important refinery on the planet, surpassing India’s Jamnagar Refinery.”
In line with him, the enlargement displays perception in Africa’s capability to outline its personal power future.
“This enlargement is about confidence in Nigeria, in Africa, and in our capability to form our personal power future,” he added.
Dangote recommended the Federal Authorities for making a business-friendly atmosphere by means of insurance policies such because the Nigeria’s First Coverage, Naira-for-Crude Coverage, and the One-Cease Store Initiative, which he mentioned have revolutionised the downstream sector and inspired non-public funding in native refining.
He additionally acknowledged authorities intervention in resolving latest operational disruptions on the refinery linked to union actions and sabotage makes an attempt, assuring that stability had since been restored.
The industrialist revealed that the continued enlargement venture will generate over 65,000 jobs in the course of the building part whereas opening new alternatives for native manufacturing and provide chains.
Past crude refining, the ability may even enhance manufacturing of polypropylene from 900,000 metric tonnes to 2.4 million metric tonnes each year, alongside base oils and linear alkylbenzene, a key ingredient in detergent manufacturing.
The upgraded refinery will produce Euro VI-standard fuels, assembly prime international environmental and emission requirements. It’ll additionally improve the plant’s energy era capability, making certain full operational self-sufficiency.
“Our objective has by no means been simply to refine oil, however to refine alternatives for our folks,” Dangote mentioned.
Addressing considerations about potential gas shortage in the course of the year-end festive season, Dangote assured Nigerians of regular petrol provide regardless of international value volatility.
“For the primary time in a few years, Nigerians can stay up for a festive season freed from gas nervousness,” he assured.
The Dangote Refinery, inaugurated in Could 2023 by the then President Muhammadu Buhari, started manufacturing in January 2024 after receiving an preliminary provide of six million barrels of crude oil.
Since operations commenced, the refinery has been supplying each native and worldwide markets, considerably boosting home availability and reducing Nigeria’s dependence on imported petrol.
At its inauguration, Buhari had described the venture as a “game-changer” and a milestone for Nigeria’s {economic} transformation.
