Dangote Petroleum Refinery in Nigeria boasts capacity of over 600,000 barrels per day

(MENAFN) The Dangote Petroleum Refinery in Nigeria, boasting a refining capacity of over 600,000 barrels per day (around 0.5% of global refining capacity), has gained international recognition, partly due to widespread media coverage.

Initially hailed as the bold vision of Africa’s wealthiest man, Aliko Dangote, the $20 billion refinery was intended to address Nigeria’s chronic fuel shortages. Media narratives later shifted to highlight construction delays, regulatory bottlenecks, and disputes between Dangote and the Nigerian government over pricing. Since its official launch in May 2023, the refinery has drawn attention from regional bodies like ECOWAS, which dubbed it a “beacon of hope,” while Nigerian President Bola Tinubu praised it as “a great phenomenon of our time” during a June visit.

Yet, the Dangote Refinery also reflects broader issues faced by many African countries striving for industrial growth and economic independence. Despite producing over 4.7 million barrels of oil daily, the continent still imports around 2.8 million barrels of refined petroleum products per day—at an annual cost of roughly $100 billion.

Nigeria, one of the world’s leading oil exporters and a key OPEC member, has long relied on importing refined products, averaging about 500,000 barrels per day until recently. Its domestic refining industry, which peaked in the 1970s and 1980s, later crumbled due to liberalization and failed reforms in the 1990s and 2000s. Aging infrastructure and the inability to attract foreign investment left the country dependent on imports, despite its abundant crude oil reserves.

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