President Bola Ahmed Tinubu has expressed his administration’s full support for the Dangote Refinery’s expansion plan, which aims to increase its production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd.

Speaking on Monday at the 19th edition of the Oil Trading and Logistics (OTL) Africa Downstream Conference and Exhibition in Lagos, President Tinubu—represented by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri—hailed the refinery as a “game-changer” for Nigeria, West Africa, and the global energy landscape.

He said the refinery’s planned expansion would further enhance Nigeria’s drive for self-sufficiency in refined petroleum products, reduce dependence on imports, and position the country as a major exporter of refined fuels across Africa.

“Data has shown that Africa has enough markets. By 2024, Africa imported over $120 billion worth of hydrocarbon resources,” Tinubu said.
“That means the demand exists here on the continent. But because of limited refining capacity and infrastructure, most of that value flows out of Africa. Our goal is to capture a greater share of that value within Nigeria and across our borders.”

The President commended Alhaji Aliko Dangote, President of the Dangote Group, for his vision and sustained investment in Nigeria’s energy infrastructure. He said the refinery expansion aligns with his administration’s Renewed Hope Agenda, particularly its focus on industrialisation, job creation, and foreign exchange stability.

Tinubu assured that the Federal Government would continue to create a business-friendly regulatory environment and strengthen partnerships with private investors to advance the nation’s downstream and midstream oil sectors.

“This administration recognises that large-scale private sector projects like Dangote Refinery are vital to our economic diversification. We will provide all the necessary support to ensure this expansion succeeds,” he said.

The Dangote Refinery, inaugurated in May 2023, is currently the largest single-train refinery in the world, with an initial processing capacity of 650,000 barrels per day.

Earlier this month, Aliko Dangote announced plans to expand the refinery’s capacity to 1.4 million barrels per day, a move expected to significantly increase Nigeria’s refining output and further reduce its import bill for petroleum products.

Industry analysts say the expansion could transform Nigeria into Africa’s refining hub, generate billions of dollars in export revenue, and strengthen the continent’s energy independence.

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