The Dangote Refinery, Africa’s largest oil refinery and the world’s largest single-train refinery, is set to be officially inaugurated on May 22, 2023.
The refinery was established by Aliko Dangote, Africa’s richest man, to help Nigeria become self-sufficient in local refining of crude oil, thereby saving foreign exchange used in importing petroleum products.
The inauguration ceremony will be presided over by the President of Nigeria, Muhammadu Buhari.
Located in the Lekki Free Zone area of Lagos, the refinery was initially expected to start production in 2016.
However, a change of location and plans to expand its capacity led to construction delays. Difficulties in importing steel and equipment further delayed completion.
The refinery is capable of processing 650,000 barrels of crude oil per day and is expected to meet 100% of Nigeria’s refined product requirements, with a surplus for export.
Experts believe that the Dangote Refinery will boost Nigeria’s economy and reduce the country’s dependence on imported petroleum products.
The inauguration of the refinery is highly anticipated and marks a significant milestone for Nigeria’s petroleum industry.