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The Dangote Refinery is an oil refinery owned by Dangote Group that was inaugurated on 22 May 2023 [1] in Lekki, Nigeria. When fully operational, it is expected to have the capacity to process about 650,000 barrels of crude oil per day, making it the largest single-train refinery in the world.
Petrol production at Nigerian business tycoon Aliko Dangote’s $20bn (£15.5bn) state-of-the-art oil refinery ought to be some of the best business news Nigeria has had in years.
The group has also diversified into oil and gas-related ventures, establishing a 3 million tonnes fertilizer plant, petroleum refinery capable of refining 650,000 barrels of oil and a petrochemical operation. [8] Dangote Refinery was inaugurated in May 2023, and will be the largest single train refinery in the world at full capacity. [17] [18]
Aliko Dangote (born 10 April 1957) is a Nigerian businessman and industrialist. He is the first man to build a private refinery in Nigeria. Forbes estimates his net worth at US$10.7 billion and Bloomberg Billionaires Index at $27.1 billion, and ranked 225th and 70th richest individual in the world respectively in 2025.
The decision by Phillips 66 this week to shutter its refinery in Wilmington next year will wipe out more than 8% of the state's crude oil processing capacity. Another refinery shuts down in ...
In September 2024, Dangote Oil Refinery began operations with capacity to produce 650,000 barrels (~103 m liters) of petrol per day and the potential to significantly reduce Nigeria's reliance on imported petroleum products. [96] NNPC, Nigeria's state-owned oil firm, is the sole customer of the refinery.
From January 2008 to December 2012, if you bought shares in companies when Robert J. Swieringa joined the board, and sold them when he left, you would have a -43.4 percent return on your investment, compared to a -2.8 percent return from the S&P 500.
From January 2008 to December 2012, if you bought shares in companies when Patricia F. Russo joined the board, and sold them when she left, you would have a -55.2 percent return on your investment, compared to a -2.8 percent return from the S&P 500.