The $20 billion Dangote Refinery, which is expected to transform the continent’s biggest economy, will fully come online with the refining of 650, 000 barrels per day by the end of 2024, its owner, Aliko Dangote, has said.

Dangote, whose personal wealth is estimated by Forbes at $10.5 billion, told the Financial Times that by next month the first cargo of about 6 million barrels will be ready for refining.

“Dangote, 66, said he believed the refinery could reach its capacity of 650,000 barrels a day by the end of 2024,” the report said, adding that “We’re starting with 350,000 barrels a day.”

At full production, the refinery, the world’s largest “single train” facility with just one distillation unit, could save Nigeria billions in foreign exchange currently spent on imported fuel.

It was “shameful”, Dangote said, that Nigeria, a major oil producer for more than 50 years, could not refine its own crude in anything like sufficient quantity.

Head of the Africa practice at political risk consultancy, the Eurasia Group, Amaka Anku, said the refinery was “a massive, complicated undertaking”.

In a country where most business people looked for short-term profits, she added, it was a blessing “that we have someone like Dangote who is willing to spend billions of his own money on long-term projects”.
Dangote conceded there were times when he thought the massive project – long delayed and about $8 billion over budget – might jeopardise his business empire.

“The challenges that we faced, I don’t know whether other people can face these challenges and even survive,” he said. “It’s either we sink or we sail through. And we thank the Almighty that at least we’ve arrived at the destination,” he added.

In the interview, Dangote complained that rivals were carping because they did not understand what it took to run a business that was the country’s biggest private-sector employer and its biggest taxpayer.

“Sometimes when people talk about us, Dangote, it’s like the government is holding everybody down and allowing us alone to fly,” he stated.

He did not want to discuss in detail a tussle over the supply of crude with the Nigerian National Petroleum Company Limited (NNPC), which owns 20 per cent of the refinery after a $2.76 billion equity purchase in 2021.

Nigeria produces about 1.4 million barrels of oil a day, well short of its Organisation of Petroleum Exporting Countries (OPEC) quota of 1.74 million barrels, with much pre-sold in forward contracts.

“Let’s not have the blame game here,” he said of NNPC’s reported difficulties in meeting the refinery’s requirements. “We have resolved all the issues of supply,” he stressed.

Dangote rejected suggestions NNPC was playing hardball to negotiate a bigger share of the refinery, which he said would generate revenue of $25 billion a year at full capacity. “I don’t think NNPC needs to buy more shares. I think they’re okay with what we’ve given them,” he added.

The refinery would eventually be floated as a separate company, he said, initially on the Lagos stock exchange.

To build the massive project on 2,500 hectares of swampland, Dangote had to construct his own port and road to take delivery of heavy equipment, establish his own trucking company to move it and his own industrial welding facility to put it together.
He said he had laid enough cable to stretch twice around the globe and had moved 65 million tonnes of sand. “You will not see this kind of project in Nigeria in the next 20 years,” he said.

No outside contractor had been willing to take on Nigerian risk, he said, so he had to design and build the whole thing in-house.
“We didn’t cut costs. We didn’t cut corners,” he said. “We didn’t do it for people to clap for us. We did it for posterity,” Africa’s richest man pointed out.

Dangote would not be drawn on his fight with BUA Chief, Abdulsamad Rabiu or his relationship with the president. But he said nothing should distract from the refinery — a “national project” that was “bigger than Dangote”.

After years of promises, he was adamant that everything was ready. “The refinery is done,” he said. “The baby can come out at any time,” he added.

Islie:

*Facility to generate $25bn revenue annually *Africa’s richest man says it’s shameful Nigeria imports fuels
https://www.thisdaylive.com/index.php/2023/11/26/dangote-refinery-to-reach-650000-bpd-production-capacity-by-end-of-2024?amp=1Nlfpmod

Obagreatdatoye:
Just start the refining and leave this too much talk...it's becoming boring

jmoore:
Capacity?

They rushed and commisioned the refinery in May. This is November, no drop of refined petrol from the refinery.

Alaigbo:
Compare to Orient Pandora criminal Peter Obi commissioned in 2013 without a single drop of the same fuel in 2023 yet your foolish ipob tribesmen as not said a word about that. Will hypocrisy not kill you fools.





Can Nigerians believe that all the foolish

people wailing about this refinery I quoted above are all igbos.

Can you also believe that Orient petroleum Peter Obi commissioned since 2013 over two decades ago is yet to produce a single litre of fuel yet all the fools above dare not say a word about it but they are quick to insult Dangote that just opened less than a month.

When we say some igbos are born devil 😈 these are the ones we talk about. Such Igbo will insult Awolowo who the world know for is progressive leaning n praise a coup supporting tribal jingoist like Azikwe even label him zuk of Africa but let them tell us a single thing Azikwe did for Africa, even Nigeria.

Shameless set of foolish baboons.

Alaigbo:
Compare to Orient Pandora criminal Peter Obi commissioned in 2013 without a single drop of the same fuel in 2023 yet your foolish ipob tribesmen as not said a word about that. Will hypocrisy not kill you fools.





Can Nigerians believe that all the foolish people wailing about this refinery I quoted above are all igbos.

Can you also believe that Orient petroleum Peter Obi commissioned since 2013 over two decades ago is yet to produce a single litre of fuel yet all the fools above dare not say a word about it but they are quick to insult Dangote that just opened less than a month.

When we say some igbos are born devil 😈 these are the ones we talk about. Such Igbo will insult Awolowo who the world know for is progressive leaning n praise a coup supporting tribal jingoist like Azikwe even label him zuk of Africa but let them tell us a single thing Azikwe did for Africa, even Nigeria.

Shameless set of foolish baboons.

Alaigbo:
Compare to Orient Pandora criminal Peter Obi commissioned in 2013 without a single drop of the same fuel in 2023 yet your foolish ipob tribesmen as not said a word about that. Will hypocrisy not kill you fools.





Can Nigerians believe that all the foolish people wailing about this refinery I quoted above are all igbos.

Can you also believe that Orient petroleum Peter Obi commissioned since 2013 over two decades ago is yet to produce a single litre of fuel yet all the fools above dare not say a word about it but they are quick to insult Dangote that just opened less than a month.

When we say some igbos are born devil 😈 these are the ones we talk about. Such Igbo will insult Awolowo who the world know for is progressive leaning n praise a coup supporting tribal jingoist like Azikwe even label him zuk of Africa but let them tell us a single thing Azikwe did for Africa, even Nigeria.

Shameless set of foolish baboons.

nairalanda1:




Something was happening in 2013 that you forgot to mention

Subsidy was in place.

As a result, any refinery commissioned in 2013, would eventually have to shut down because subsides would have made it unprofitable to run

Even Dangote, unless government is honest and let's dangote sell fuel at market price, which means price of petrol could be as high as N900 OR MORE, Dangote refinery will crash.

Alaigbo:
You foolish Igbo head need to be smashed severely by rock solid 2 by 2 for giving excuse for Igbo failure no mater how ridiculous n foolish you sound.

ibrahimsalam:
can Nigerians believe that only igbos are suffering in this country.
Can Nigerians believe that there are no poor people suffering in your immediate family.
After 8years of defending clueless buhari you want Nigerian to folly footstep.

jmoore:
Capacity?

They rushed and commisioned the refinery in May. This is November, no drop of refined petrol from the refinery.

Alaigbo:
Compare to Orient Pandora criminal Peter Obi commissioned in 2013 without a single drop of the same fuel in 2023 yet your foolish ipob tribesmen as not said a word about that. Will hypocrisy not kill you fools.

May your children not inherit your foolish or mental instability!!!.... HOW DID YOU COME TO THE CONCLUSION THAT EVERYONE IS IGBO...

Obviously you are demented by your igbophobic ailment.

Am an Urhobo from Delta State. Perhaps in your deluded mind... Urhobo is also Igbo....

ODE... ALAINIRONU... OLORIBU





Can Nigerians believe that all the foolish people wailing about this refinery I quoted above are all igbos.

Can you also believe that Orient petroleum Peter Obi commissioned since 2013 over two decades ago is yet to produce a single litre of fuel yet all the fools above dare not say a word about it but they are quick to insult Dangote that just opened less than a month.

When we say some igbos are born devil 😈 these are the ones we talk about. Such Igbo will insult Awolowo who the world know for is progressive leaning n praise a coup supporting tribal jingoist like Azikwe even label him zuk of Africa but let them tell us a single thing Azikwe did for Africa, even Nigeria.

Shameless set of foolish baboons.

Alaigbo:
So tell use what tribe you are or what tribe any of those I quoted is that is not Igbo.

Tribalism that as killed your miserable Igbo papa is what you are telling Nigerians that are less tribalistic compare to you igbos.