The $20 billion Dangote Refinery, set to revolutionize Nigeria's economy, is slated to achieve its full refining capacity of 650,000 barrels per day by the end of 2024, according to owner Aliko Dangote.
Anticipated to yield an annual revenue of $25 billion, the refinery, the world's largest "single train" facility, aims to reduce Nigeria's hefty spending on imported fuel. Despite challenges and a budget overrun of $8 billion, Dangote emphasized the importance of this long-term project, addressing concerns about rivals and emphasizing the refinery as a "national project" beyond personal stature.
The refinery, completed and ready, is positioned to become a separate entity listed on the Lagos stock exchange.
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