Aliko Dangote, Chairman of the Dangote Group, announced on Monday that the Dangote Petroleum Refinery and Petrochemicals will become the world’s largest refinery by 2028.
He made the declaration during the preliminary signing ceremony for the proposed initial public offering of the facility in Lagos. Dangote described the event as a major milestone for the company, Nigeria and Africa.
The refinery currently processes 700,000 barrels of crude oil per day. It already holds the title of Africa’s largest refinery and the world’s largest single-train facility.
Dangote stated: “Today marks a significant milestone for us as not just a company, but as Nigerians and also Africans. As we gather today to witness the preliminary activities that will set in motion the initial public offering of the 700,000 barrels per day Dangote refinery and petrochemicals, the largest refinery in Africa, world’s largest single train, and soon to be the largest refinery by 2028 in the world history.”
Meanwhile, David Bird, Chief Executive Officer of Dangote Petroleum Refinery and Petrochemicals, confirmed that construction for the second phase has started.
The expansion will add another 700,000 barrels per day. As a result, the total capacity will reach 1.4 million barrels per day by the end of 2028.
Bird explained that the project is fully sponsored, engineered and procured. He added: “This is now just a construction exercise that we believe we can deliver by 2028 to make the Dangote refinery the largest integrated refinery and petrochemical complex on the planet.”
Furthermore, Bird noted that the facility has become the largest jet fuel supplier into Europe. He said the refinery processes different grades of crude oil and supplies several international markets.
The planned expansion aims to strengthen Nigeria’s domestic refining capacity and reduce reliance on imported petroleum products.
