Aliko Dangote, Chairman of Dangote Group, has said the Dangote Petroleum Refinery and Petrochemicals will become the world’s largest refinery by 2028.
Dangote made the disclosure on Monday at the preliminary signing ceremony for the proposed Initial Public Offering (IPO) of the refinery.
He said the 700,000 barrels-per-day facility, currently Africa’s largest refinery and the world’s largest single-train refinery, was being expanded to attain the global record.
Dangote said the project was driven by the need to strengthen Nigeria’s energy security and accelerate industrialisation across Africa.
He added that the proposed share offering would be open to everyone, saying there would be no restriction on who could own shares in the refinery.
Also speaking, the refinery’s Chief Executive Officer, David Bird, said the facility had become a major merchant refinery serving Nigeria, West Africa and international markets.
Bird said the refinery was already among the five or six largest refineries globally, adding that its planned expansion was fully funded and engineered, with construction being the major phase remaining.
He expressed confidence that the expansion would be completed by 2028, making the Dangote refinery the largest integrated refinery and petrochemical complex in the world.
