Dangote refinery to begin production in Q3 2022

According to Bloomberg, Dangote Group Chairman Aliko Dangote stated that the refinery’s mechanical work is complete, and that “ideally before the end of the third quarter we should be on the market.”

During a press conference at the plant site in Lagos, Southwest Nigeria, the business mogul announced this. The factory would begin with a processing capacity of 540,000 barrels per day, according to him. “It’s possible that full production may commence by the end of the year or the beginning of 2023,” he said.

The Dangote Petroleum Refinery is a multibillion-dollar project that would generate a market for Nigerian crude worth $11 billion per year. The facility’s construction cost is projected to be $19 billion, and it has a capacity of 650,000 barrels per day.

When completed, it will be Africa’s largest oil refinery and one of the world’s largest single-train complexes.

It has been highlighted by the Centre for the Promotion of Private Enterprise (CPPE), an economic advocacy group, as one of the main predicted growth factors that would benefit Nigeria’s downstream industry in 2022.

The African Petroleum Producers Organisation (APPO) has said that its formation will result in a 36 percent reduction in petroleum imports into Africa.