Otedola Hails Dangote’s $20bn Refinery Expansion

Renowned businessman Femi Otedola has praised Aliko Dangote for expanding the Dangote Petroleum Refinery from 650,000 to 1.4 million barrels per day, describing the project as a generational legacy that will transform Africa’s industrial future.

Otedola, in a post on his X handle, said the expansion makes the refinery the largest in the world, commending Dangote’s “relentless commitment to investing in Nigeria and Africa.”

He added that Nigerians would soon have the chance to own shares in the refinery when it lists on the Nigerian Stock Exchange in 2026, a move he said reflects Dangote’s inclusive vision.

Otedola also lauded President Bola Tinubu for supporting private sector growth under the Renewed Hope agenda.

Dangote, while addressing journalists in Lagos, said the $20 billion expansion will create 65,000 jobs, with 85 percent of workers to be Nigerians. The project will also double power generation from 500MW to 1,000MW, and raise fuel output to Euro 6 standard.

He noted that construction would begin immediately and be completed within three years, making the facility the largest refinery in the world.