{"id":5697,"date":"2025-10-28T08:54:53","date_gmt":"2025-10-27T23:54:53","guid":{"rendered":"https:\/\/souqtimes.com\/?p=5697"},"modified":"2025-10-28T08:54:53","modified_gmt":"2025-10-27T23:54:53","slug":"africas-richest-man-to-transform-nigerian-refinery-into-worlds-largest","status":"publish","type":"post","link":"https:\/\/souqtimes.com\/ja\/finance\/5697\/","title":{"rendered":"Africa’s Richest Man to Transform Nigerian Refinery into World’s Largest"},"content":{"rendered":"

JAKARTA<\/strong> – Africa’s wealthiest individual, Aliko Dangote, announced on Sunday ambitious plans to more than double the production capacity of the continent’s largest refinery located in Nigeria, positioning it to become “the world’s biggest refinery.”<\/p>\n

Speaking at a press conference in Lagos, Dangote, the refinery’s owner, revealed that the facility will expand its capacity to 1.4 million barrels per day within three years. “We are more than doubling our output… from 650,000 barrels to 1.4 million barrels,” the Nigerian business magnate stated.<\/p>\n

Surpassing Global Competition<\/h2>\n

This expansion will elevate the facility beyond India’s Jamnagar refinery, currently among the world’s largest. With a capacity of 1.4 million barrels daily, the new production level would be substantial enough to process nearly all of Nigeria’s current crude oil output, which stands at approximately 1.5 million barrels per day.<\/p>\n

Transforming Nigeria’s Energy Landscape<\/h2>\n

Prior to the inauguration of Dangote’s private refinery last year, Nigeria imported the majority of its fuel requirements despite being Africa’s largest oil producer. For years, state-owned refineries suffered from neglect and mismanagement, creating a paradox in this oil-rich but corruption-plagued nation.<\/p>\n

Dangote’s intervention has brought significant change, resulting in lower gasoline prices for consumers. “This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential, and our commitment to building our continent’s energy independence,” Dangote emphasized.<\/p>\n

Breaking the Import Cycle<\/h2>\n

The $20 billion refinery, situated on the outskirts of Lagos, commenced operations in January 2024 with the objective of ending the country’s reliance on imported refined petroleum products. Previously, Nigeria exported crude oil only to reimport it after refining at exorbitant prices, draining the national economy according to economic analysts.<\/p>\n

This strategic development marks a pivotal shift in Nigeria’s energy sector, transforming the nation from a fuel importer to a potential petroleum products exporter, while strengthening Africa’s position in the global energy market.<\/p>\n

 <\/p>\n

Original Article:<\/b><\/p>\n

Aljazeera Net. (2025, October 27).\u0623\u063a\u0646\u0649 \u0631\u062c\u0644 \u0641\u064a \u0623\u0641\u0631\u064a\u0642\u064a\u0627 \u0633\u064a\u062c\u0639\u0644 \u0645\u0635\u0641\u0627\u062a\u0647 \u0641\u064a \u0646\u064a\u062c\u064a\u0631\u064a\u0627 \u0627\u0644\u0623\u0643\u0628\u0631 \u0628\u0627\u0644\u0639\u0627\u0644\u0645<\/em><\/span>.<\/span> Retrieved from https:\/\/www.aljazeera.net\/ebusiness\/2025\/10\/26\/%D8%A3%D8%BA%D9%86%D9%89-%D8%B1%D8%AC%D9%84-%D9%81%D9%8A-%D8%A3%D9%81%D8%B1%D9%8A%D9%82%D9%8A%D8%A7-%D8%B3%D9%8A%D8%AC%D8%B9%D9%84-%D9%85%D8%B5%D9%81%D8%A7%D8%AA%D9%87-%D9%81%D9%8A<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

JAKARTA – Africa’s wealthiest individual, Aliko Dangote, announced on Sunday ambitious plans to mo […]<\/p>\n","protected":false},"author":9,"featured_media":5698,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pmpro_default_level":"","inline_featured_image":false,"footnotes":""},"categories":[4],"tags":[3595,3597,3596,230],"class_list":["post-5697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-africa-energy","tag-alikco-dangote","tag-dangote-refinery","tag-nigeria","pmpro-has-access"],"_links":{"self":[{"href":"https:\/\/souqtimes.com\/ja\/wp-json\/wp\/v2\/posts\/5697","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/souqtimes.com\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/souqtimes.com\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/souqtimes.com\/ja\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/souqtimes.com\/ja\/wp-json\/wp\/v2\/comments?post=5697"}],"version-history":[{"count":1,"href":"https:\/\/souqtimes.com\/ja\/wp-json\/wp\/v2\/posts\/5697\/revisions"}],"predecessor-version":[{"id":5699,"href":"https:\/\/souqtimes.com\/ja\/wp-json\/wp\/v2\/posts\/5697\/revisions\/5699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/souqtimes.com\/ja\/wp-json\/wp\/v2\/media\/5698"}],"wp:attachment":[{"href":"https:\/\/souqtimes.com\/ja\/wp-json\/wp\/v2\/media?parent=5697"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/souqtimes.com\/ja\/wp-json\/wp\/v2\/categories?post=5697"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/souqtimes.com\/ja\/wp-json\/wp\/v2\/tags?post=5697"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}