Femi Otedola hails Dangote over refinery expansion

Femi Otedola hails Aliko Dangote for expanding his petroleum refinery to 1.4 million barrels per day, calling it a generational legacy for Africa.

Femi Otedola, billionaire businessman and chairman of Geregu Power, has lauded his longtime associate and Africa’s richest man, Aliko Dangote, following the announcement of a major expansion of the Dangote Petroleum Refinery.

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In a post shared on his X handle on Sunday, Otedola celebrated the refinery’s planned capacity increase from 650,000 to 1.4 million barrels per day, describing the project as “the largest refinery ever built in the world.”

He wrote, “My brother and Africa’s pride, @AlikoDangote, addressed a world press conference in Lagos where he unveiled the expansion of the Dangote Petroleum Refinery to 1.4 million barrels per day from 650,000 barrels per day. This makes it the largest refinery ever built in the world.”

Commending Dangote’s relentless vision and patriotism, Otedola said the billionaire’s commitment to investing in Nigeria and Africa would “outlive him,” noting that such projects represented “legacy investments that will define generations.”

He further revealed that Nigerians would soon have the opportunity to own shares in the refinery, a move he described as an inclusive step toward national growth and economic empowerment.

“Soon, Nigerians will own part of this refinery, a powerful reminder that this vision is not just for Dangote but for all Nigerians and Africans,” Otedola wrote.

He also expressed appreciation to President Bola Tinubu for his continued support of private-sector-led growth under the Renewed Hope agenda, which he said was building a “stronger, self-reliant Nigeria.”

Earlier on Sunday, Dangote had announced the refinery’s expansion during a press briefing in Lagos, stating that construction work would commence immediately.

“We are expanding the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day,” Dangote said. “Upon completion, this will make it the largest refinery in the world, surpassing the Jamnagar Refinery in India.”

He added that around 65,000 workers would be engaged for the expansion, with 85 per cent of the workforce expected to be Nigerians. The refinery’s power generation capacity will also double from 500MW to 1,000MW.

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The expansion, analysts say, marks a defining milestone for Nigeria’s industrial and energy sectors, positioning the country as a key player in global refining and export markets.

thecable.ng

Ibrahim Onipede

Ibrahim Onipede is a journalist and contributor to Freelanews.com, covering news, public affairs, and human-interest stories.