October 27, 2025 [Offshore Engineer]- Aliko Dangote, the owner of Nigeria’s Dangote Petroleum Refinery, said that it plans to double its current production capacity, which is 650,000 barrels per day, to 1.4million barrels per daily over the next three-year period.
The 20 billion dollar refinery outside of Lagos began operations in January of 2024, and is aimed at ending imports of refined petroleum by Africa’s largest crude oil producer.
The new plant capacity of 1.4 million barrels per day would be enough to process all of Nigeria’s crude oil production, which is currently around 1.5 million barrels per day.
Dangote said to journalists that the funding for expansion would be derived from cash flow and proceeds from an upcoming listing on the local market, as well as “one or two strategic investor that we are carrying”.
He said, “This expansion… is about confidence in people and leadership in our country.”
Dangote said that the planned listing of refinery shares on the Nigerian Stock Exchange would take place in the coming year. The demand for shares will determine the amount of shares listed. MacDonald Dzirutwe, Isaac Anyaogu and Andrew Heavens contributed to the reporting.
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