The Dangote Group, led by Aliko Dangote, has announced plans to expand its Lagos-based refinery’s capacity from 650,000 barrels per day to 1.4 million barrels per day. This expansion, expected to be completed within three years, will make it the world’s largest single-site refinery, surpassing India’s Jamnagar refinery. The project is anticipated to create approximately 65,000 jobs and is part of Dangote’s commitment to enhancing Africa’s energy infrastructure and reducing reliance on imported fuels.
Aliko Dangote, President and CEO of the Dangote Group, has announced plans to double the capacity of the Lagos-based refinery from 650,000 to 1.4 million barrels per day. The expansion aims to meet rising fuel demand across Africa and beyond, while boosting petrochemical output and complying with Euro VI standards for cleaner energy. The project is expected to create approximately 65,000 jobs, underscoring Dangote’s commitment to strengthening Africa’s energy infrastructure and reducing reliance on fuel imports, with Afreximbank playing a key role in supporting this vision
“No banking institution in the history of Africa has actually helped Africa like Afreximbank under the leadership of Orama. And I’m really very happy that George Elombi is taking over from him. And I’m sure the trajectory is going to continue. It’s a very, very great opportunity. Decade of growth helping African companies. I mean, I can tell you for nothing that without African Bank, we wouldn’t have been where we are today. As even a company. I’m talking about Damgote Group”
ALIKO DANGOTE, President & CEO, Dangote Group – Nigeria
The expansion underscores Nigeria’s growing industrial ambitions and highlights the crucial role of African financial institutions in supporting transformative projects. Afreximbank, under the leadership of Professor Benedict Oramah, has been instrumental in financing the initial phase of the refinery and is expected to continue its support for the expansion under the bank’s new president Dr George Elombi.
Actually, the financing was made possible mainly by Afreximbank and other banks. But Afreximbank led the group. Without the Afreximbank, like what I keep saying, the refinery wouldn’t have been possible. We really thank Oramah for his visionary leadership. He leaves behind a great legacy. With George Elombi at the helm, I am confident that Afreximbank will continue to propel African industries and trade forward, ensuring that projects like our refinery can reach their full potential.”
ALIKO DANGOTE, President & CEO, Dangote Group – Nigeria
The Dangote Refinery expansion highlights the growing partnership between African industries and multilateral financial institutions like Afreimbank, signaling a new era of large-scale industrialisation and value addition on the continent.
