The refinery’s mechanical work has been completed, said the refinery’s owner, Nigerian billionaire Aliko Dangote – who is the richest man in Africa – adding, “We hope to be in the market before the end of the third quarter.”
He explained that the refinery will start operating with a processing capacity of 540 thousand barrels per day, and full production can start by the end of this year or the beginning of next 2023, according to Bloomberg American.
Dangote Refinery Capabilities
The production capacity of the refinery is Dangote The new giant 650,000 barrels per day, whose construction cost about 19 billion dollars, and its production will be more than enough to meet Nigeria’s fuel needs, and transform Africa’s largest producer of crude into an exporter of refined crude.
According to the Bloomberg Rich List, billionaire Aliko Dangote’s fortune is worth $20.4 billion, pointing out that his main investments were in the cement field, before turning to crude oil production by building the Dangote refinery.
Dangote Project Details
Dangote Group launched the project to build the largest oil refinery in Africa in 2016. The refinery is located in Ibigo Lekki, Lagos State.
The CEO of the company, Aliko Dangote, described the project as an integrated project, which is expected to become the largest oil refinery in Africa and the largest single production facility in the world when completed.
Nigeria is Africa’s largest oil producer and exporter, and is largely dependent on fuel imports, although it has refineries in various parts of the country that have been neglected for decades.
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