Business mogul Femi Otedola has lauded his longtime associate and Africa’s richest man, Aliko Dangote, following the announcement of a major expansion of the Dangote Petroleum Refinery.
In a post on his X handle on Sunday, Otedola celebrated the refinery’s planned increase from 650,000 to 1.4 million barrels per day, calling it “the largest refinery ever built in the world.”
“My brother and Africa’s pride, @AlikoDangote, addressed a world press conference in Lagos where he unveiled the expansion of the Dangote Petroleum Refinery. This makes it the largest refinery ever built in the world,” Otedola wrote.
He commended Dangote’s vision, describing the project as a generational legacy that would transform Africa’s industrial landscape and benefit Nigerians.
“Soon, Nigerians will own part of this refinery, a powerful reminder that this vision is not just for Dangote, but for all Nigerians and Africans,” Otedola added.
Dangote himself confirmed that the expansion will begin immediately, projecting completion within three years. The project will require 65,000 workers, 85% of whom will be Nigerians, and will increase the refinery’s power generation capacity from 500MW to 1,000MW.
The facility will also upgrade fuel production from Euro 5 to Euro 6 standards. Dangote stated that the refinery is planned to be listed on the Nigerian Stock Exchange in 2026, allowing citizens to become shareholders.
“We are expanding the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day. Upon completion, this will make it the largest refinery in the world, surpassing the Jamnagar Refinery in India,” he said.
Otedola also acknowledged President Bola Tinubu for his support, praising the government’s encouragement of private sector-led growth under the Renewed Hope mandate.
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