Dangote Refinery Targets Full Capacity by June, Plans Crude Oil Imports

The Dangote Petroleum Refinery, Africa’s largest oil refinery, has announced plans to ramp up its production to 650,000 barrels per day (bpd) by June 2025. Currently operating at 500,000bpd, the $20 billion facility located in Lekki, Lagos, is exploring crude oil imports to address the shortfall in supply from the Nigerian National Petroleum Company Limited (NNPC).

Despite the ongoing naira-for-crude arrangement initiated by President Bola Tinubu in 2024, the refinery requires additional crude to meet its daily production capacity. Under this policy, the NNPC supplies crude to local refineries in exchange for naira payments. However, officials at Dangote Refinery have confirmed that supply from NNPC falls short of the refinery’s requirements, prompting the need for alternative sourcing.

“This is a 650,000 barrels per day refinery, and as we ramp up to full capacity, sourcing crude beyond Nigeria is inevitable,” an official stated. The NNPC is currently providing 350,000bpd from the 450,000bpd allocated for local refineries, leaving a significant gap in supply.

The refinery, which produces Euro 5-standard petrol, diesel, and other fuels, has become a significant player in global markets. A consultant to the refinery highlighted its global standing, noting that few refineries worldwide match its scale. “This is one of the largest refineries globally. Even OPEC has acknowledged its impact on the European PMS market,” he said.

To bolster operations, the refinery is constructing eight additional storage tanks, which will increase its crude storage capacity by 41.67% to 3.4 billion liters. The expanded storage will