Nigerian business magnate, Femi Otedola, has commended Africa’s richest man, Aliko Dangote, for announcing a significant expansion of the Dangote Petroleum Refinery, describing the move as a “generational legacy” that will redefine Africa’s industrial landscape.
In a statement shared via his official X handle on Sunday, Otedola congratulated Dangote on plans to increase the refinery’s capacity from 650,000 barrels per day to 1.4 million barrels per day, making it the largest refinery in the world upon completion.
“My brother and Africa’s pride, Aliko Dangote, unveiled the expansion of the Dangote Petroleum Refinery to 1.4 million barrels per day. This will make it the largest refinery ever built globally,” Otedola said.
The billionaire investor praised Dangote’s long-term commitment to national development, noting that his consistent investment in Nigeria and across Africa would “outlive him” and continue to shape generations to come.
“Soon, Nigerians will own part of this refinery — a reflection of Dangote’s inclusive vision for national growth,” he added.
Otedola also extended appreciation to President Bola Tinubu for supporting private-sector-led development, noting that the administration’s Renewed Hope agenda continues to inspire confidence among investors.
Dangote, speaking earlier at a world press conference in Lagos, confirmed that construction work for the expansion would begin immediately, creating 65,000 jobs, with 85 percent of the workforce expected to be Nigerians.
He also disclosed plans to increase the refinery’s power generation capacity from 500MW to 1,000MW, and to upgrade production from Euro 5 to Euro 6 fuel standards.
According to Dangote, the expansion project — expected to be completed within three years — will position Nigeria as a global energy hub. The refinery will also be listed on the Nigerian Stock Exchange in 2026, allowing citizens to become shareholders in what he described as a national asset.
The Dangote Petroleum Refinery, located in the Lekki Free Trade Zone, remains one of Africa’s most ambitious industrial projects, aimed at reducing Nigeria’s dependence on imported fuel and strengthening its economic sovereignty.
