The Dangote Refinery has announced plans to expand its capacity from 650,000 barrels per day to 1.4 million barrels per day, a move expected to create 65,000 jobs.
The President of the Dangote Group, Alhaji Aliko Dangote, made the announcement 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.
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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.
He explained that the construction phase would employ about 65,000 workers, with 85 per cent of them being Nigerians.
Dangote added that the refinery’s power generation capacity would rise from 500MW to 1,000MW, and fuel production would move from Euro 5 to Euro 6 standard.
He also said the refinery would be listed on the stock exchange in 2026 to allow Nigerians to own shares in the company.
Dangote thanked President Bola Tinubu for his support, noting that the expansion project would be completed in three years.
“The expansion is expected to be completed in three years,” he said.