Otedola Speaks Out As Dangote Refinery Reaches Full 650,000bpd Capacity

Billionaire businessman and philanthropist Femi Otedola has congratulated Aliko Dangote, President of the Dangote Group, after the Dangote Petroleum Refinery achieved its full production capacity of 650,000 barrels per day.

According to industry sources, the refinery reached this milestone after successfully restoring and optimising its Crude Distillation Unit and Motor Spirit production block, marking a global first for a single-train refinery of its scale. The development represents a critical phase in the ramp-up of Africa’s largest oil refining facility.

The refinery recently undertook a 72-hour intensive performance test in collaboration with its licensor, UOP, to verify operational stability, efficiency, and compliance with global standards. These achievements followed a scheduled maintenance exercise on key units, which were subsequently stabilised and optimised for steady-state operations.

David Bird, Managing Director and Chief Executive Officer of Dangote Petroleum Refinery, highlighted that the seamless integration of the units reflected the facility’s engineering sophistication and operational resilience.

Otedola, reacting via his verified handle, described the milestone as a landmark accomplishment for Dangote, Nigeria, and the African continent. He emphasised the refinery’s broader significance, noting that supplying up to 75 million litres of petrol daily has the potential to transform Nigeria’s energy landscape and conserve foreign exchange.

He added that large-scale domestic refining would reduce the country’s dependence on imported petroleum products, alleviating pressure on Nigeria’s foreign exchange market. Expressing optimism about the national currency, Otedola stated that a meaningful strengthening of the naira, with trading below ₦1,000/$1 by year-end, is increasingly within reach.

Otedola further revealed that Dangote has initiated plans for a $12 billion expansion aimed at increasing refining capacity to 1.4 million barrels per day, alongside production of 2.4 million tons of polypropylene and 400,000 metric tons of Linear Alkyl Benzene for detergents. He congratulated Dangote once again, affirming that Nigeria is proud of the achievement.