Nigeria’s President Muhammadu Buhari on Monday commissioned an oil plant billed as Africa’s largest oil refinery, after years of delays and a week before stepping down from office.
Why did Aliko Dangote build a refinery in Lagos?
The 650,000-barrel-per-day Dangote oil refinery built by Nigerian billionaire Aliko Dangote in Lagos aims to compete with European refiners when operating at full capacity but had been struggling to secure sufficient crude locally.
Will Dangote be Africa’s biggest oil refinery?
It is expected to be Africa’s biggest oil refinery and the world’s biggest single-train facility, upon completion in 2020. Dangote Group, one of the most diversified business conglomerates in Nigeria, is venturing into oil business with the construction of the Dangote oil refinery. Image courtesy of NIGERIAN INVESTMENT PROMOTION COMMISSION.
What is Dangote Refinery?
Image courtesy of NIGERIAN INVESTMENT PROMOTION COMMISSION. Dangote refinery is a 650,000 barrels per day (bpd) integrated refinery and petrochemical project under construction in the Lekki Free Zone near Lagos, Nigeria. It is expected to be Africa’s biggest oil refinery and the world’s biggest single-train facility, upon completion in 2022.
When will Aliko Dangote Refinery open?
Built by Africa’s richest person Aliko Dangote in the commercial hub of Lagos, the refinery should begin operations in June with the first products expected on the market by August though some analysts said it could be later. Once at full capacity, it will have the ability to process 650,000 barrels a day, according to the company.
Could a refinery boost Africa’s fuel supply?
In addition to creating tens of thousands of jobs, authorities believe the refinery could boost fuel supplies across Africa at a time when some of its refineries are operating far below capacity.