Sijibomi Ogundele Commends Dangote's Refinery Success

Dr. Sijibomi Ogundele, Group Managing Director of Sujimoto, reflected on the skepticism surrounding the Dangote Refinery's construction, stating that it showcases the potential of bold entrepreneurship. He noted that many professionals doubted the project's feasibility due to its high costs and Nigeria's history with failed refineries.

Ogundele recounted his visit to the refinery in Ibeju-Lekki five years ago, which reshaped his views on African enterprise and ambition. He attended the refinery's commissioning on May 22, 2023, where he met some of the critics who had previously doubted the project.

The refinery is projected to process about 700,000 barrels per day by 2026, with first-half revenues exceeding $13 billion and a net profit of $1.82 billion, contrasting with a $476 million loss in 2025. Plans to expand capacity to 1.4 million barrels per day by 2029 and a proposed ₦2.15 trillion public offering of shares were also mentioned.