Dangote Refinery Increases Production to 1.4mbpd

The Dangote Refinery has increased its production to 1.4mbpd from its present 650bpd, thus making it the world’s largest oil refinery by capacity.

This was announced by the president of the organization, Alhaji Aliko Dangote at a news briefing on Sunday.

The $20 billion facility which is said to be capable of producing 650 litres per day but it can always be expanded.

In a recent interview with S&P Global, Dangote revealed that the multi-billion-dollar refinery plans to sell between 5% and 10% of its stake on the Nigerian Exchange (NGX) within the next year.

The plans also include increasing the refinery’s output to 1.4 million barrels per day, which could make it the world’s largest oil refinery by capacity.

Dangote said the state-run oil company, the Nigerian National Petroleum Company (NNPC) Limited, could increase its stake in the refinery, currently at 7.2%.

The Dangote refinery, located in Lagos, began commercial production in 2024 after a decade of construction work costing $20 billion, with a capacity to process 650,000 barrels of crude oil per day.

The aim was to meet Nigeria’s domestic fuel needs and export some products, including petrol, diesel and jet fuel. The latest move, which entails selling some stakes to other investors, signals a shift in the refinery’s structure and operations.

Also Read:

Dangote said the sales will mirror the approach his company adopted for its cement and sugar production sections, allowing other investors to join his businesses. He added that the company doesn’t want to keep more than 65%-70% shares.

During his interview with S&P Global, Dangote also hinted at strategic partnerships with Middle Eastern companies as part of a broader plan to expand operations and develop a new petrochemicals project in China.

Since starting operations, the Dangote refinery has shaken up the Nigerian oil market and exported fuel to America and Asia.