NEWS
Dangote Refinery Set to Become World’s Largest by 2028 as Expansion Plans Gather Pace
The Dangote Petroleum Refinery and Petrochemicals is on course to become the world’s largest refinery by 2028, following plans to expand its already massive 700,000-barrels-per-day capacity.
Chairman of the Dangote Group, Aliko Dangote, made the disclosure on Monday, September 7, 2026, at the preliminary signing ceremony for the proposed initial public offering (IPO) of the refinery, describing the development as a major milestone for the company, Nigeria and the wider African continent.
The refinery, located in Lekki, Lagos, is currently Africa’s largest refinery and the world’s largest single-train refinery. Its planned expansion is expected to propel the facility beyond its current position and establish it as the largest integrated refinery and petrochemical complex globally.
A Decade-Long Industrial Ambition:
Dangote said the refinery project, which commenced more than a decade ago, was driven by determination, long-term planning and the confidence of the company’s financial partners.
He recalled that some of the group’s bankers backed the ambitious project at an early stage despite not having visited the refinery site or seen its operating licence.
According to him, the experience demonstrated that projects of extraordinary scale could become reality when backed by commitment, confidence and persistence.
“Today also shows that nothing is impossible for us to achieve once we are focused and determined,” Dangote said.
The billionaire businessman said the refinery represents a key component of Dangote Group’s broader Vision 2030, which seeks to accelerate industrialisation across Africa.
He stressed that the continent’s industrial ambitions could not be achieved without a dependable and sufficient energy supply, making energy security a central priority for the group.
“We have learned the hard way, and we cannot industrialise if we do not have the energy security,” he said.
Dangote Expands Africa Investment Drive:
Dangote said the group was therefore investing heavily in projects designed to strengthen Nigeria’s energy security while extending its industrial footprint across other African markets.
He disclosed that expansion plans had already been announced in countries including Ethiopia, Kenya, Tanzania and Namibia, with the group seeking to replicate its industrial development model beyond Nigeria.
According to him, the investments are also intended to demonstrate that large-scale industrial projects can be successfully developed in Africa and inspire other entrepreneurs to participate in the continent’s economic transformation.
Refinery IPO Opens Ownership to Wider Investors:
The proposed IPO is expected to provide investors with an opportunity to acquire shares in the refinery as the company moves towards a broader ownership structure.
Dangote said participation would not be limited to a particular category of investors, stressing that the company wanted people across Africa to have the opportunity to participate.
“There is no segregation on who can own the shares,” he said.
The proposed listing could therefore mark another significant stage in the evolution of the refinery, transforming the facility from one of Africa’s most ambitious privately driven industrial projects into an investment opportunity accessible to a broader pool of shareholders.
Refinery Strengthens Global Position:
Also speaking at the event, Chief Executive Officer of Dangote Refinery, David Bird, said the facility was operating as a merchant refinery, supplying petroleum products to Nigeria, countries across West Africa and international markets.
Bird said the refinery had continued to expand its international reach, adding that it had emerged as the largest supplier of jet fuel to Europe.
He noted that the facility had delivered strong operational performance over the past six months, helping cushion the impact of international supply disruptions associated with conflicts in the Middle East and Ukraine.
The refinery’s ability to process different grades of crude oil, Bird explained, has enabled it to serve a broad range of markets and strengthen its position within the global petroleum supply chain.
Construction Remains Key to 2028 Expansion Target:
Bird described the 700,000-barrels-per-day facility as Africa’s largest refinery and one of the five or six largest refineries in the world.
He disclosed that the proposed expansion had already progressed through the sponsorship, engineering and procurement stages, leaving construction as the major outstanding phase.
“This is now just a construction exercise that we believe we can deliver by 2028 to make the Dangote refinery the largest integrated refinery and petrochemical complex on the planet,” Bird said.
If completed as planned, the expansion would further strengthen Nigeria’s position in the global energy market while giving the country an even larger refining platform capable of supplying domestic, regional and international markets.
The development also represents a major shift in Nigeria’s longstanding dependence on imported refined petroleum products, with the Dangote refinery increasingly positioning itself as a major supplier not only to the domestic market but also to consumers across Africa and beyond.