Aliko Dangote, Chairman of Dangote Group and Africa’s richest person, says his refinery will begin processing crude oil by the third quarter of 2022.
The business mogul made the disclosure over the weekend, in Lagos, during a facility tour of the oil refinery, the fertilizer plant, and the Dangote Jetty, together with Dr. Akinwumi Adesina, President, African Development Bank (AfDB).
Dangote said the plant would start with a processing capacity of 540,000 barrels per day.
The Dangote Petroleum Refinery is a multi-billion dollar project that will create a market for $11 Billion per annum of Nigerian Crude.
The facility, which is located at the Lekki Free Zone, in Lago State, costs an estimated $19 billion to build, and has an installed capacity of 650,000 barrels per day.
With operations projected to begin between August and September this year, or early next year 2023, it is expected to be Africa’s biggest oil refinery, and one of the world’s biggest single-train facilities, upon completion.
Its believed that its output will be more than enough to meet Nigeria’s fuel demands and turn Africa’s largest crude producer into an exporter of refined crude.
