Aliko Dangote plans to invest $28 billion to double the capacity of his Lagos refinery to 1.4 million barrels per day by 2028. The project includes building a new facility in Kenya to expand operations into East Africa.
The refinery reached its full capacity of 650,000 barrels per day in February 2026. By April and May 2026, the plant became the world’s largest single jet fuel exporter, benefiting from supply chain disruptions caused by the Iran conflict.
Dangote's net worth increased by approximately $5 billion in 2026, reaching a total of $34.8 billion. The company currently faces regulatory disputes with the Nigerian regulator NMDPRA, which have impacted local operations.
Despite the refinery's global export success, Nigeria remains dependent on imports, which accounted for 43% of the country's fuel supply in July 2026. Local petrol supplies to Lagos have declined during the refinery's ramp-up period.
