Nigeria’s landmark Dangote Refinery inaugurated
LAGOS, May 22, 2023 – Nigeria’s game-changing 650,000-bpd Dangote Refinery was inaugurated on Monday in a ceremony attended by President Muhammadu Buhari.
Located near Lagos in the Lekki Free Zone, the mega-scale refining and petrochemicals complex was developed at a cost of around USD 19 billion.
Ranking as Africa’s largest refinery and the world’s largest single-train facility, the Dangote Refinery will meet 100% of the Nigerian requirement of all refined products and have a surplus of each of its products for export.
Its anticipated output includes 10.4 million tonnes of petrol per year, 4.6 million tonnes of diesel per year and 4 million tonnes of Jet A-1 per year. The complex’s urea fertiliser plant has a capacity of almost 3 million tonnes per year.
The Dangote Refinery has been under development since 2012 and was originally expected to be commissioned by Q4 2022.
“This is going to be one of the largest refineries in the world, and it will contribute about USD 13 billion to the Nigerian economy upon its completion,” Osam Iyahen of the Africa Finance Corporation (AFC) told The Energy Year.
“All estimates point towards an increase in Nigeria’s GDP by up to 20%, providing the government with more revenue and helping to bridge any deficits.”
The AFC supported the project with an investment of USD 300 million.
Read our latest interview with Osam Iyahen here.
— Dangote Group (@DangoteGroup) May 20, 2023