Business
Dangote Refinery Poised to Become World’s Largest with 1.4m bpd Capacity
President of Dangote Industries Limited, Alh Aliko Dangote, has explained that the decision to expand the Dangote Petroleum Refinery from 650,000 barrels per day (bpd) to 1.4 million bpd is driven by emerging opportunities across Africa, growing regional demand for cleaner fuels, and Nigeria’s evolving policy environment that encourages local refining.
He made the declaration at a media briefing in Lagos, on Sunday.
According to Alh Dangote the $20 billion facility is already the largest single-train refinery in the world, but will more than double its capacity within the next three years to make it a global leader in petroleum refining and a major driver of Africa’s industrial renaissance.
“This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential, and our commitment to building energy independence for our continent and the world. It also is about confidence in Nigeria, in Africa, and in our capacity to shape our own energy future,” Dangote said. “It is the dream of President Bola Ahmed Tinubu GCFR, for Nigeria to emerge as one of the major suppliers of petroleum products in the world. And with his strong backing through his policies, we are taking on the challenge to make this happen”
He maintained that the expansion reflects the group’s belief in Africa’s potential to achieve energy independence and transform its economy from being an exporter of raw crude to a hub for refined petroleum products.
Alh Dangote revealed that the expansion project will be executed over the next three years and will be financed through a mix of cash flow, public listing, and strategic investors.
On completion, the refinery will surpass India’s Jamnagar Refinery, currently the world’s largest, thereby cementing Nigeria’s position as a global refining hub.
He said the refinery will also expand its polypropylene production capacity from 900,000 metric tonnes to 2.4 million metric tonnes per annum, further boosting the output of linear alkylbenzene, a key ingredient in detergent manufacturing, along with additional production of base oils.
“With this expansion, the refinery transitions from producing Euro V to Euro VI fuel standards, meeting the highest global environmental benchmarks,” he said. “We will also expand our power generation capacity to 1,000 megawatts, ensuring complete operational self-sufficiency. More than 85% of our workforce will be Nigerian, with continuous investment in skills development and technology transfer. Our commitment to safety, sustainability, and local participation remains unwavering throughout every phase of the expansion”
Highlighting the economic impact of the project, Alh Dangote said the expansion will further strengthen Nigeria’s energy security, reduce foreign exchange outflows, and save the country billions of dollars annually that would otherwise have gone into importing refined products.
He estimated that the refinery’s revenue could exceed $55 billion annually, making it one of the most valuable industrial assets on the African continent.
Alh Dangote reaffirmed plans to list a significant portion of the refinery’s shares on the Nigerian Exchange (NGX) within the next year, describing it as part of efforts to democratise ownership and allow Nigerians to share in the value creation.
“Our main listing will be here in Nigeria to give Nigerians value,” he said. “We want the Dangote Refinery to be the golden stock of the Exchange. Listing outside Nigeria is secondary to us. We want this to be a national asset in every sense. This is a step toward broader ownership and market transparency. Therefore, we call on all Nigerians to seize this window, to benefit from this golden opportunity. Our long-term goal remains clear: to build Africa’s leading integrated energy and petrochemical hub the first of its kind on the continent”
He said the refinery’s strong cash flow, profitability prospects, and strategic positioning would make it attractive to both local and global investors.
“This expansion will create additional jobs, support thousands of SMEs, and deepen our industrial base. Our goal has never been just to refine oil, but to refine opportunities for our people” he said. “It is a vote of confidence in Nigeria, in the reforms of President Bola Ahmed Tinubu’s administration, and in the ability of Africans to build and manage world-class infrastructure.”
He expressed gratitude to President Tinubu and the Federal Government for supporting industrialisation policies such as Nigeria’s First, Naira-for-Crude, and the One-Stop Shop initiative, which he said have emboldened investors to take on transformative projects.
He also commended the government’s intervention in mediating recent disruptions at the refinery linked to union activity and sabotage attempts, calling it a demonstration of effective collaboration between the public and private sectors.
Despite not yet recouping the initial investment in the 650,000bpd phase, Alh Dangote said the group is focused on long-term transformation rather than short-term returns.
“Refining is a long-term project. We are expanding because we believe in Africa,” he said. “Without this refinery, Nigeria would still be buying dollars at ridiculous rates and depleting our reserves to import fuel.”
He emphasised that Nigeria’s pump price remains among the lowest in the region despite the refinery’s production of higher-quality, cleaner fuels that have reduced toxic dumping in the country.
Alh Dangote emphasised that the refinery has already made a difference by stabilising local fuel supply, helping to strengthen the naira, and preventing capital flight.
“Nigerians today buy petrol at roughly half the price of what our neighbours pay, and it is even cheaper than in Saudi Arabia,” he noted. “Our product is of higher quality, meeting Euro VI standards, and it has significantly reduced the dumping of toxic fuel into our market.”
As Nigeria approaches the festive season, Alh Dangote assured the public that there would be no fuel scarcity or price hike during the ember months, despite recent global price increases.
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“In the last three days, we have witnessed an eight percent spike in global oil prices,” he said. “But I want to assure Nigerians that the Dangote Refinery is fully committed to maintaining uninterrupted supply of petrol throughout the festive period. For the first time in many years, Nigerians can look forward to a Christmas and New Year free of fuel anxiety.”
Alh Dangote praised the Federal and Lagos State Governments for their continued support, along with the company’s host community in Lekki and its financial and technical partners.
“This expansion is not just about capacity; it is about confidence — in our people, in our government, and in our continent,” he said. “Together, we are building a stronger Nigeria and redefining what is possible for Africa.”
He called on other investors holding refinery licences to emulate the example, urging collaboration in achieving President Tinubu’s vision of making Nigeria the refining hub of Africa.
“When Africa builds its own capacity, it builds its own destiny,” Alh Dangote concluded.
The NNPC Limited has raised alarm over what it described as a growing wave of fraudulent claims suggesting that the company is selling refinery scrap materials and equipment to individuals and private entities.
In a public notice by its Chief Corporate Communications Officer, Andy Odeh, the company categorically dismissed the claims as false, clarifying that it has not initiated or approved any process for the sale of scrap metals, refinery components, or equipment from any of its facilities.
According to the company, it has neither issued requests for bids, tenders, nor expressions of interest relating to such transactions, contrary to information being circulated in some quarters.
More troubling, the company revealed that certain individuals have been impersonating NNPC officials, falsely presenting themselves as authorised agents to facilitate the sale of so-called refinery scrap.
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“These individuals are not authorised by NNPC Limited and are attempting to mislead members of the public,” the statement noted, highlighting the sophistication of the fraudulent scheme.
The development raises concerns about the exploitation of public trust and the potential financial risks to unsuspecting individuals and businesses.
NNPC therefore urged stakeholders, corporate organisations, and the general public to exercise vigilance and avoid engaging in any transaction linked to such claims.
“For the avoidance of doubt, NNPC Limited is not conducting, nor has it authorised, any sale of refinery scrap or equipment,” the company reiterated.
It further emphasised that any legitimate disposal of assets would be carried out through transparent, regulated processes and communicated through its official platforms.
The company also encouraged the public to report suspected fraudsters to law enforcement agencies, as part of efforts to curb the spread of such criminal activities.
NNPC reaffirmed its commitment to transparency, accountability, and the responsible stewardship of Nigeria’s energy assets.
The NNPC Foundation Limited/Gte, the Corporate Social Responsibility (CSR) arm of the Nigerian National Petroleum Company Limited (NNPC Ltd), has won the CSR Champion Award (Health) 2025 instituted by the Independent Newspapers.
Biztellers reports that the award was presented during the Silver Jubilee edition of the Independent Newspapers Awards, themed “Game Changers: Breaking Barriers and Shaping Tomorrow,” held at Eko Hotel and Suites on Saturday, 18 April 2026.
The CSR Champion Award (Health) recognises the Foundation’s work in healthcare and its broader commitment to improving lives through social investment programmes spanning health, education, environment, and access to energy.Primary & Secondary Schooling (K-12)
The recognition follows a series of health initiatives delivered by the Foundation, including free cataract screening and surgeries that restored sight to over 6,000 Nigerians, including minors born blind; cancer and glaucoma interventions; medical outreaches to underserved communities; renovation and furnishing of three wards with 100 beds at the National Orthopaedic Hospital, Igbobi; partnership and sponsorship of heart surgeries; and provision of dental health accessories to children in special schools, among others.
The NNPC Foundation noted that these results were made possible through the leadership and support of the NNPC Ltd. Management team, whose commitment has continued to strengthen the Foundation’s capacity to deliver social investments across the country.
Reacting to the award, the Managing Director of NNPC Foundation, Emmanuella Arukwe, described the recognition as a validation of the Foundation’s work and the trust placed in it by Nigerians. She noted that the award means so much to the company because it represents the confidence Nigerians have placed in its work and the value they see in purposeful social investment.
“It speaks to the resilience of the communities we serve, the dedication of our team, and the strength of partnerships that have enabled us to do meaningful work in health, education, environmental sustainability and access to energy,” she added.
In addition, Arukwe noted that “these results have also been made possible through the leadership and support of the NNPC Ltd. Management team, whose backing has been instrumental to the success of the Foundation’s work. We receive this award with gratitude, and with a renewed sense of responsibility to do more and reach further across the country.”
The NNPC Foundation Limited/Gte remains committed to advancing health interventions that improve outcomes and contribute to national development.
The Nigerian National Petroleum Company Limited (NNPC Ltd), through its Research, Technology and Innovation (RTI) Division, in collaboration with the Petroleum Technology Development Fund (PTDF), has signed a Memorandum of Understanding (MoU) with Sonatrach, the Algerian National Oil Company, for cooperation in research, development, and innovation.
The agreement, signed by NNPC Ltd’s Executive Vice President, Business Services, Sophia Mbakwe, and Sonatrach’s Managing Director, Khodjah Mohamed, establishes a formal framework for joint work in research and technology exchange between the two national oil companies.
This was contained in the press statement issued on Thursday by Chief Corporate Communications Officer Mr. Andy Odeh.
According to the statement, the agreement, held during the opening ceremony of the 3rd Meeting of the African Petroleum Producers’ Organization (APPO) Forum for R&D Directors at the PTDF Tower in Abuja, Nigeria, brought together research and development directors from APPO member countries.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, represented by former Secretary General of APPO, Omar Farouk Ibrahim, said the forum was one of four measures introduced by APPO to address challenges from the global energy transition, which center on funding, technology, and markets.
“The R&D forum tackles technology and expertise needs, the African Energy Bank addresses funding constraints, and the Central African Pipeline System supports regional oil and gas market integration,” Lokpobiri stated.
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Earlier in his remarks, Group Chief Executive Officer, NNPC Limited, Engr. Bashir Bayo Ojulari, represented by the Company’s Chief Financial Officer, Adedapo Segun, said research and development must form a central part of the overall strategy in the African oil and gas industry.
He called for research and development centres to function as engines of industrial competitiveness. “Collaboration in research and development is of strategic importance. The cost of innovation might be high, but the cost of obsolescence would be greater,” he stressed.
Ojulari called for a unified strategic framework through which resources could be pooled, data integrated, and risks shared across member countries.
He further urged the rapid adoption of digital technologies, artificial intelligence, and advanced engineering to improve upstream, midstream, and downstream operations.
On his part, the APPO Secretary General, Farid Ghezali, urged African petroleum-producing countries to ensure research in the oil and gas sector produced solutions that are practical and directly relevant to the continent. “We must ensure that our research delivers solutions that are practical and of direct use to Africa,” he stated.
Also speaking, the Executive Secretary of the Petroleum Technology Development Fund (PTDF), Prof. Shu’aibu Shehu Aliyu, highlighted the value of the partnership between NNPC Limited and PTDF in supporting decarbonization and environmental protection efforts across APPO member countries.
Chief Innovation Officer of NNPC Research, Technology and Innovation and incoming Chairman of the APPO R&D Directors Forum, Rasheed Ojulari, said the forum would give immediate priority to joint programs in the core areas of upstream optimization, artificial intelligence, decarbonisation processes, and industrial systems development.
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