President Bola Tinubu has reaffirmed his administration’s commitment to supporting the planned expansion of the Dangote Refinery from 650,000 barrels per day to 1.4 million barrels per day.
Tinubu, represented by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made this known on Monday during the 19th edition of the OTL Africa Downstream Conference and Exhibition in Lagos.
Describing the project as a “game-changer” for Nigeria, West Africa, and the global energy market, the President said the expansion would boost Nigeria’s self-sufficiency in refined petroleum products and enhance energy security across the continent.
“When completed, the expansion will make the facility the largest refinery in the world, surpassing the Jamnagar Refinery in India,” Tinubu stated.
Speaking earlier at a press conference in Lagos on Sunday, the President of Dangote Group, Aliko Dangote, said the expansion reflects confidence in Nigeria’s economic prospects and aligns with President Tinubu’s vision of positioning the country as a global hub for refined petroleum exports.
“We are more than doubling production capacity — from 650,000 barrels per day to 1.4 million. This will make the Dangote Refinery the largest in the world,” Dangote said. “This expansion is about confidence in Nigeria, in Africa, and in our capacity to shape our own energy future.”
Tinubu assured that the Federal Government would continue to back private sector investments that promote value addition, job creation, and energy security. He emphasized that such initiatives align with his administration’s vision for a competitive and deregulated downstream petroleum sector.
“Data shows that Africa imported about $120 billion worth of hydrocarbon resources in 2024,” Lokpobiri noted on behalf of the President. “This proves that the market exists. What we must now do is build the financial capacity and infrastructure to retain a larger share of that value within Africa and particularly within Nigeria.”
The Dangote Refinery, located in the Lekki Free Trade Zone, Lagos, is expected to transform Nigeria’s petroleum sector by significantly reducing fuel imports, stabilizing supply, and contributing to the country’s foreign exchange earnings once its expansion is completed.
