Aliko Dangote has introduced plans to double the capability of his $20 billion oil refinery in Lagos to 1.4 million barrels per day (b/d), a transfer set to make it the world’s largest refining facility.
The Nigerian billionaire disclosed the plan in a current interview with S&P World, revealing that the corporate can also be exploring new financing alternatives and potential partnerships with Center Japanese traders.
In line with Dangote, the enlargement will construct on the prevailing 650,000 b/d capability of the Dangote Refinery and Petrochemicals complicated, positioned throughout the Lekki Free Zone. As soon as accomplished, the upgraded facility would surpass India’s 1.36 million b/d Jamnagar refinery, at the moment the most important on the earth.
Engineers on the website stated the plant was designed with room to accommodate a second refining system, permitting for seamless enlargement, S&P World reported.
“In July, Dangote unveiled plans to develop the refinery from its present 650,000 b/d to 700,000 b/d by the top of the 12 months. Now, the goal is to succeed in 1.4 million b/d, with no specified date — a scale that will surpass the world’s largest 1.36 million b/d refinery in Jamnagar, India.
“Engineers working on the Lekki complicated say it was designed with room for progress, mentioning empty concrete plots able to holding a second refining system,” the report learn partly.
Dangote defined that the extra funding would additionally assist new petrochemical ventures, together with linear alkylbenzene and base oils manufacturing, whereas growing annual polypropylene output from a million to 1.5 million metric tonnes.
He added that his group, which now generates twice the ability it consumes, is well-positioned to maintain large-scale industrial progress regardless of Nigeria’s infrastructure challenges.
$4 billion mortgage deal, plans to checklist on NSE, others
The report additional disclosed that the corporate just lately secured a $4 billion financing deal in August 2025, a milestone that helped ease considerations about maturing debt obligations and strengthened its total steadiness sheet. The brand new funding package deal is anticipated to assist Dangote Industries’ wider enlargement technique, together with plans for a brand new petrochemicals undertaking in China.
- Dangote additionally revealed plans to checklist between 5% and 10% of the refinery’s shares on the Nigerian Inventory Trade (NSE), following an analogous strategy to the group’s cement and sugar companies. He defined that the corporate intends to retain 65–70% possession, whereas the remaining shares can be regularly provided to traders based mostly on market situations and demand.
The enlargement announcement comes as the corporate continues stabilization efforts on the Lekki refinery, which has confronted short-term operational disruptions and labour-related challenges in 2025. The plant’s important gasoline unit, a residue fluid catalytic cracker (RFCC), briefly went offline in September however has since resumed operations, in accordance with the report.
Extra insights
In his interview, Dangote reaffirmed his dedication to advancing Africa’s power independence, rejecting dependence on imported gas and calling for better non-public sector participation within the refining trade.
He warned that with out important non-public funding, “most African governments is not going to have the capability to construct a refinery,” citing excessive rates of interest and insufficient infrastructure as key constraints.
The Dangote Refinery, which started operations in 2024, at the moment meets round 80% of Nigeria’s gas demand and has remodeled the nation right into a internet exporter of diesel and jet gas. With its deliberate capability enlargement and new funding tasks, the ability is poised to play a good better position in shaping Africa’s power future.
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