Dangote targets making Refinery world’s largest by 2028

Africa’s wealthiest man, Aliko
Dangote, has announced his plan to expand his petroleum refinery from its current 650,000 barrels per daily to 1.4 million barrels per day.

If all goes well as planned, this dream would become a reality by 2018 and make the refinery the largest in the world, overtaking India’s Jamnagar Refinery, which is currently the world’s largest.

The President of the Dangote Group disclosed this at a press briefing in Lagos today, Vanguard reports.

His words, “We are expanding the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day. Upon completion, this will make it the largest refinery in the world, surpassing the Jamnagar Refinery in India.”

Dangote informed that the expansion on completion would create some 65,000 jobs, 85 per cent of which would go to Nigerians.

He added, “With this expansion, the refinery transitions from producing Euro V to Euro VI fuel standards, meeting the highest global environmental benchmarks.”

To make production easier at the facility, Dangote disclosed that power generation would be increased from 500 to 1,000 megawatts.

He also stated that he was working on enlisting the refinery on the Nigerian Stock Exchange in 2026 to give Nigerians an opportunity to become its shareholders.

Dangote revealed that “The expansion is expected to be completed in three years,” adding that the expansion work will commence immediately.