President of Dangote Industries Limited, Aliko Dangote, has assured Nigerians that the ongoing expansion of the Dangote Petroleum Refinery will create more opportunities for local workers, with over 85 percent of the workforce to be Nigerians when completed.
Dangote made the pledge on Sunday during a press briefing in Lagos, where he confirmed that the refinery’s capacity would be increased from 650,000 barrels per day (bpd) to 1.4 million bpd.
He explained that the expansion was inspired by growing demand for cleaner fuels across Africa, as well as Nigeria’s evolving energy policies designed to encourage local refining and reduce dependence on imports.
“With this expansion, the refinery transitions from producing Euro V to Euro VI fuel standards, meeting the highest global environmental benchmarks,” Dangote said.
“We will also expand our power generation capacity to 1,000 megawatts, ensuring complete operational self-sufficiency. More than 85% of our workforce will be Nigerians, with continuous investment in skills development and technology transfer.”
The assurance follows recent tension between the company and members of NUPENG and PENGASSAN over welfare and worker dismissals, a disagreement Dangote described as already being addressed through government mediation.
$20 Billion Facility to Double Capacity
Dangote said the refinery, which is already the largest single-train refining complex in the world, will more than double its capacity within the next three years.
He added that the expansion would be funded through cash flow, public listing, and strategic investors, ultimately positioning Nigeria as a global refining powerhouse.
Once completed, the upgraded refinery will surpass India’s Jamnagar Refinery, currently the world’s largest, and help transform Nigeria from an exporter of raw crude into a major hub for refined petroleum products.
The project will also expand polypropylene production capacity from 900,000 metric tonnes to 2.4 million metric tonnes annually, boosting output of linear alkylbenzene (used in detergent production) and base oils for industrial use.
“This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential, and our commitment to building energy independence for our continent,” Dangote said.
“It is also about confidence in President Bola Ahmed Tinubu’s vision to make Nigeria one of the world’s leading suppliers of petroleum products.”
Eyes Over $55 Billion Annual Revenue
Dangote projected that the expanded facility could generate over $55 billion in annual revenue, reduce foreign exchange outflows, and save the country billions of dollars that would otherwise be spent on fuel imports.
He also reaffirmed plans to list a significant portion of the refinery’s shares on the Nigerian Exchange (NGX) next year, describing it as a way to democratise ownership and make the refinery a “national asset.”
“Our main listing will be in Nigeria to give Nigerians value,” he stated. “We want the Dangote Refinery to be the golden stock of the Exchange. Listing abroad is secondary, this belongs to Nigerians.”
He emphasised that the refinery’s cash flow, profitability, and strategic positioning would make it highly attractive to both local and international investors.
“Our goal has never been just to refine oil, but to refine opportunities for our people,” Dangote said. “This expansion will create thousands of jobs, support SMEs, and deepen our industrial base.”
Thanks Tinubu, FG for Policy Support
Dangote commended President Tinubu and the Federal Government for policies such as Nigeria First, Naira-for-Crude, and the One-Stop Shop Initiative, which he said have boosted investor confidence in the energy sector.
He also thanked the Lagos State Government, the refinery’s host community in Lekki, and its technical and financial partners for their collaboration and support.
“Refining is a long-term investment,” Dangote said. “We’re not focused on short-term gains but on transforming Africa’s industrial future. Without this refinery, Nigeria would still be burning scarce dollars to import fuel.”
Nigeria’s Fuel Price Among Region’s Lowest
Dangote noted that despite global price volatility, Nigeria’s petrol pump price remains among the lowest in the region, crediting the refinery’s operations for stabilising supply and strengthening the naira.
“Nigerians today buy petrol at roughly half the price paid by our neighbours and even cheaper than in Saudi Arabia,” he said. “Our products meet Euro VI standards and have drastically reduced the dumping of toxic fuels in our market.”
No Fuel Scarcity During Festive Season
As the year draws to a close, Dangote assured Nigerians that there would be no fuel scarcity or price increase during the ember months, despite a recent 8 percent rise in global oil prices.
“The Dangote Refinery is fully committed to maintaining an uninterrupted supply of petrol throughout the festive period,” he said. “For the first time in many years, Nigerians can look forward to a Christmas and New Year free of fuel anxiety.”
Dangote also urged other refinery licence holders to invest in local refining, stressing that cooperation within the industry is essential to achieving energy independence across Africa.
“When Africa builds its own capacity, it builds its own destiny,” he concluded.
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