Business News
Dangote Refinery boosts output to 1.4 Million barrels Per Day
The Dangote Refinery is set for a massive expansion, with its capacity increasing from 650,000 barrels per day (bpd) to 1.4 million bpd, Very Nigeria reports.
Aliko Dangote, President of the Dangote Group, made the announcement at a press briefing in Lagos on Sunday, alongside his close associate, Femi Otedola, Chairman of First Bank.
Dangote said the upgrade would make the facility the largest refinery in the world, overtaking India’s Jamnagar Refinery.
“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 stated.
According to him, construction work for the expansion will commence immediately and is expected to be completed within three years.
The project will employ about 65,000 workers, with 85 per cent of the workforce being Nigerians.
Dangote also revealed plans to double the refinery’s power generation capacity from 500 megawatts to 1,000 megawatts, while upgrading fuel output to Euro 6 standard, an improvement from the current Euro 5 specification.
In addition, the refinery is expected to be listed on the Nigerian Stock Exchange in 2026, giving citizens the opportunity to become shareholders in the multibillion-dollar enterprise.
Senate, House Committees endorse creation of new South-East State
The billionaire industrialist expressed gratitude to President Bola Ahmed Tinubu for his continuous support, assuring that the expansion would further strengthen Nigeria’s self-sufficiency in refined petroleum products and contribute significantly to job creation and economic growth.
Follow Us on Google Discover
French authorities arrest teen over alleged plot to abduct Kylian Mbappe
Fury blasts Joshua, calls him ‘Coward’ as blockbuster fight delays
PFIPC: Reps clear Gbajabiamila, uncover forged documents
Wike tackles APC governors, accuses Uzodinma, Abdulrazaq of plotting against him
Akwa Ibom Gov’t sparks controversy after describing Akpabio as ‘Acting President’
I think about Tinubu’s re-election everyday, if he loses, Atiku, Obi will deal with me – Wike
Kwankwaso arrives Port Harcourt ahead of 2027 election
Uber announces exit from Nigeria after 12 years
2027: Any LG chairman who fails to deliver victory for APC, Tinubu will lose his seat – Gov Nwifuru
Wike sets 2027 deadline for completion of FCT projects
African Union to launch credit rating agency October 7
Tinubu’s ‘dictatorship’ may end Nigeria’s democracy, SDP’s Adebayo warns
UEFA unveils special debut patches for UCL debutants
Nigeria records 14 fresh Lassa Fever cases – NCDC
NDA publishes 78th regular combatant course admission list
NAF opens 2026 recruitment for tradesmen, non-tradesmen
I think about Tinubu’s re-election everyday, if he loses, Atiku, Obi will deal with me – Wike
2027: I will review NELFUND, offer debt forgiveness to Nigerian students – Atiku vows
‘Why can’t Nigerians buy petrol for N441-N872 per litre like, UAE, Angola Sudi Arabia, others’ – Atiku questions Tinubu
Yuguda warns Nigerians against Atiku’s promise to restore fuel subsidy, says its a political bait
2027: APC chieftain resigns, rejects support for Tinubu, Bauchi Governorship candidate
On LG Autonomy: I will send funds directly to LGs from Day 1 in office – Atiku vows
Don’t discuss Atiku’s NYSC certificate case against Tinubu in public – Judge warns lawyers
Xenophobia: Nigeria will no longer tolerate dehumanisation of its citizens in South Africa — Shettima
Tinubu’s effort to secure Trump’s support for re-election has failed – Atiku’s lobbying firm claim
North, biggest beneficiary of my reforms — Tinubu, Arewa Forum, others disagree
Nollywood hit by another loss as Atinuke Kareem dies after prolonged cancer battle
2027: Major Jack picked as Chinda’s running mate in Rivers
How security forces rescued 15 NYSC members, six others from Kogi kidnappers – Police