The richest man on the African continent - Aliko Dangote, announced that the largest refinery in Africa, located in Nigeria, will double its capacity to 1.4 million barrels per day within three years to become the “largest refinery in the world“, reported Agence France-Presse, quoted by BTA.
“We are currently doubling the barrels - from 650,000 to 1.4 million“, said Dangote, the owner of the refinery, during a press conference in Lagos. “This will make it the largest refinery“ in the world, overtaking India's Jamnagar refinery, the Nigerian businessman added.
Before the opening of the privately owned “Dangote“ refinery last year, Nigeria had to import almost all of its fuel, despite being Africa's largest oil producer.
After years of neglect and mismanagement of state-owned refineries, Dangote has shaken up long-standing players in a corruption-ridden oil market and lowered gasoline prices for consumers.
“This expansion reflects our confidence in Nigeria's future, our belief in Africa's potential and our commitment to building energy independence on our continent,“ Dangote added.