Dangote to Double Oil Refinery Capacity to 1.4 Million bpd

Dangote Industries Limited, led by Aliko Dangote, intends to increase its oil refinery capacity from 650,000 bpd to 1.4 million bpd, surpassing India's Jamnagar refinery. The company plans to list 10% of its shares next year and is seeking Middle Eastern partners for a $4 billion financing agreement.

Dangote aims to address Africa's energy independence challenges and reduce petrol imports by expanding its refinery operations. The project also involves building a second refinery and enhancing infrastructure in Nigeria.