On Sunday, October 26, 2025, the billionaire Nigerien Aliko Dangote has announced that he plans to double the capacity of production of its oil refinery within three years to make it a leader worldwide in the sector.

The expansion of the largest refinery in Africa should be financed by a combination of cash flow, a raise of funds on the local stock market and an opening of its capital to strategic investors. At a press conference in Lagos on Nigerian billionaire said: “we are doing more than double the barrels... to 1.4 million against 650,000”. “That will make it largest refinery in the world”, in front of the Indian refinery in Jamnagar according to the latter.

Doubling the refinery's capacity, including construction required 11 years and investments of 20 billion dollars, should position Nigeria as a global hub in the field of oil refining, capable not only of meeting its domestic demand in fuel, but also to supply refined petroleum products to others African and international markets.

The Nigerian tycoon also has said “this expansion reflects our confidence in the future of Nigeria, our faith in Africa's potential and our commitment to build the energy independence of our continent.”