Billionaire investor Femi Otedola has lauded the Dangote Group’s plan to boost the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million bpd, calling it a “legacy investment” that will benefit generations of Nigerians and Africans.
Speaking on Sunday, Otedola described the project as a milestone that transcends the Dangote family, positioning the refinery as a cornerstone for the nation’s future.
In his X post, Otedola wrote: _“My brother and Africa’s pride, @AlikoDangote, addressed a World Press Conference in Lagos where he unveiled the expansion of the Dangote Petroleum Refinery to 1.4 million barrels per day from 650,000 barrels per day.
“This makes it the largest refinery ever built in the world.”_ He added: _“Aliko’s relentless commitment to investing in Nigeria and Africa will outlive him as these are legacy investments that will define generations.
“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.”
The refinery’s new capacity will also lift polypropylene production from 900,000 metric tonnes to 2.4 million tpa, while adding fresh output of linear alkylbenzene and base oils.
Otedola thanked President Bola Tinubu for his support, noting that the administration’s policies have created the right environment for such a massive private‑sector undertaking.
Dangote explained that the decision to expand was driven by rising African demand for cleaner fuels, emerging regional opportunities, and Nigeria’s evolving policy framework that encourages local refining.
Once completed, the plant will meet Euro VI emission standards, double its on‑site power generation to 1 GW, and create about 65,000 jobs during construction, with 85 % of positions reserved for Nigerians.
The expansion is expected to be completed within three years and will position Nigeria as a global refining hub, significantly cutting fuel imports, saving billions in foreign exchange, and reinforcing the country’s energy security.
The refinery is also slated for a listing on the Nigerian Exchange in 2026, giving the public a chance to own shares in the continent’s most ambitious industrial project.
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