Africa’s richest man, Aliko Dangote, has announced plans to expand the capacity of the Dangote Refinery from 650,000 barrels per day (bpd) to 1.4 million bpd, positioning the facility as one of the largest in the world.
Speaking during the Africa Energy Week in Cape Town, Dangote said the expansion aims to meet growing demand for refined petroleum products both within Nigeria and across Africa. “Our goal is to make Nigeria self-sufficient in fuel production and to become a major exporter to other African markets,” he stated, as reported by Bloomberg.
The $20 billion refinery, which began operations in 2024, is expected to significantly reduce Nigeria’s dependence on imported refined products and help stabilize the naira by conserving foreign exchange reserves. Industry experts told Reuters that the planned expansion could transform the regional energy landscape, boosting trade under the African Continental Free Trade Area (AfCFTA) framework.
According to Financial Times, the Dangote Refinery currently supplies over 30 percent of Nigeria’s domestic fuel needs and is projected to reach full operational capacity by mid-2025 before scaling up to the proposed 1.4 million bpd mark.
