Dangote Says Refinery Will Become World’s Largest by 2028
The President and Chief Executive Officer of the Dangote Group, Aliko Dangote, has said the Dangote Refinery will become the largest refinery in the world by 2028.
Dangote disclosed this on Monday during the signing ceremony for the initial agreement relating to the planned Initial Public Offering (IPO) of shares in the refinery.
He said the refinery, which has a refining capacity of 700,000 barrels of crude oil per day, is currently the largest refinery in Africa and the world’s largest single-train refinery, adding that its operations would be further expanded.
Dangote said the investment was driven by the need to strengthen energy security in Nigeria and promote industrial development across Africa.
He also stated that the planned share offering would be open to everyone, without restricting ownership to a particular category of investors.
Speaking on the development, the Chief Executive Officer of Dangote Refinery, David Bird, said the refinery has become a major commercial refinery supplying petroleum products to Nigeria, West African countries and other international markets.
Bird said the refinery is currently among the five or six largest refineries in the world, adding that its expansion programme has received full support, with engineering and procurement activities already completed.
He said the remaining work is construction, which they are confident will be completed by 2028, enabling the refinery to become the world’s largest refining and petrochemical complex.
