- Deal targets 1.4 million bpd refining capacity
- Expansion boosts Nigeria’s fuel exports and FX outlook
ABUJA, NIGERIA – Dangote Group has signed a $350 million agreement with India’s Engineers India Ltd to expand its Lagos refinery, a move expected to reshape Nigeria’s energy sector and regional fuel markets.
The deal will significantly expand the Dangote refinery and petrochemicals complex in the Lekki Free Zone, increasing crude processing capacity from 650,000 barrels per day to 1.4 million barrels per day. Once completed, the facility would rank among the world’s largest single-location refinery complexes, strengthening Nigeria’s ambition to move from a fuel importer to a major exporter of refined petroleum products.
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