The Federal Government has pledged full support for the Dangote Refinery’s plan to expand production from 650,000 to 1.4 million barrels per day, which will make it the largest refinery in the world. Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, described the project as a transformative milestone for Nigeria’s energy independence and economic growth, noting that it reflects investor confidence in ongoing policy reforms.
He explained that the removal of fuel subsidies and liberalisation of the downstream sector have enabled greater private investment, stabilised fuel supply, and created a more competitive market. The expansion is being financed through a combination of private equity and long-term credit facilities.
When completed, the refinery will position Nigeria as a global refining hub, saving billions in foreign exchange, creating about 65,000 jobs, and expanding production of petrochemicals such as polypropylene and base oils, while enhancing industrial productivity and regional energy security.
