The Dangote Refinery has announced plans to expand its capacity from 650,000 barrels per day to 1.4 million barrels per day.
The President of the Dangote Group, Alhaji Aliko Dangote, made this known during a press briefing in Lagos on Sunday.
Speaking alongside the Chairman of First Bank, Mr Femi Otedola, Dangote said the expansion would make the refinery the largest in the world.
He stated that construction work for the project would begin immediately.
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“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,” he said.
Dangote revealed that about 65,000 workers would be engaged for the construction, with 85 per cent of them expected to be Nigerians.
He added that the refinery’s power generation capacity would increase from 500MW to 1,000MW.
The billionaire also said the refinery would begin producing Euro 6 standard fuel, up from the current Euro 5 level.
Dangote disclosed that the refinery would be listed on the stock exchange in 2026, giving Nigerians an opportunity to become shareholders.
He appreciated President Bola Tinubu for his support and confirmed that the expansion project would take three years to complete.
“The expansion is expected to be completed in three years,” he said.