Nigeria’s largest refinery took over a decade and $20 billion to begin operations

Key takeaways

Dangote first announced the refinery in 2013 with a $9 billion plan, securing $3.3 billion in funding.
The estimated cost grew to $15 billion in 2017, as planned refining capacity increased to 650,000 barrels per day.
By 2023, the refinery was finally commissioned, after its total cost surged past $20 billion.
In December 2023, the first crude supply of 1 million barrels arrived, marking the start of operations.
By 2024, the refinery began producing diesel and jet fuel, with 6 million barrels received for processing.

The Dangote Refinery’s development has been a decade-long process, starting in 2013 with a $9 billion plan and evolving into a $20 billion+ project. Delays pushed completion far beyond the initial 2018 target, with the first crude supply arriving only in December 2023. The refinery began producing diesel and jet fuel in 2024, processing 6 million barrels, and is now expanding its trade network, importing 3 million barrels from the US while exporting jet fuel to Saudi Arabia and the US.

Source:

Dangote group, Media reports

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Period:

2013-2025

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