Sputnik Africa

The Dangote Petroleum Refinery, owned by Nigerian billionaire Aliko Dangote, was commissioned on May 22, 2023, in Lekki, Nigeria. By the end of 2024, it was operating near full capacity, with expectations to reach full production in the first quarter of 2025.

In a recent interview cited by media reports, Aliko Dangote, Africa’s wealthiest man, described his $23 billion refinery project as the biggest risk of his life, acknowledging the immense challenges encountered in its construction. He noted that failure would have had severe financial consequences.

With a production capacity of 650,000 barrels per day—making it the largest refinery in Africa—Dangote underscored the difficulties in securing funding, handling regulatory processes, and maintaining supply chains.

“We have to build our own nation by ourselves. We have to build our own continent by ourselves, not [rely on] foreign investment,” Dangote was quoted as saying, emphasizing Africa’s need for self-sufficiency in industrialization.

He also criticized Africa’s reliance on imported goods, highlighting the refinery’s role in refining the continent’s crude oil, generating wealth, and promoting economic prosperity.

Despite establishing a family office in Dubai and involving his daughters in the business, Dangote remains focused on Nigeria and the refinery’s growth. He is also working on additional projects, including a subsea natural gas pipeline and the expansion of the refinery’s fertilizer plant.

According to reports, Dangote plans to take the refinery public within the next one to two years. Expressing confidence in overcoming challenges, he stated, “I’ve been fighting battles all my life, and I have not lost one yet.”