Dangote Plans Major Refinery Expansion to 1.4M BPD

Aliko Dangote, President of Dangote Industries Limited, announced plans to increase the Dangote Petroleum Refinery's capacity to 1.4 million barrels per day by early 2029. This announcement was made during the final IPO roadshow, themed ‘Back to Where It All Began,’ held in Port Harcourt.

Currently, the refinery operates at 500,000 barrels per day, and the expansion aims to position it among the world's largest refining complexes. The expansion will also include significant growth in petrochemical production, with projections of 2.5 million tonnes of polyolefins and a 400,000-metric-tonne linear alkylbenzene plant, the largest in Africa.

Dangote mentioned plans for a 1,900-kilometre pipeline to extend the refinery's reach into eastern and southern Africa. He assured small investors that they would be accommodated in the IPO, which has seen reported oversubscription.

The share price is set at N525, which Dangote described as attractive given the refinery's growth prospects.