A $9 billion refinery is said to be commissioned in Nigeria by 2020, the refinery according to Hydrocarbon Technology will have an annual refining capacity of 10.4 million tonnes of gasoline, 4.6 million tonnes of diesel and 4 million tonnes of Jet fuel, 0.69 million tonnes of polypropylene, 0.24 million tonnes of propane, 32,000 tonnes of sulphur and 0.5 million tonnes of carbon black feed. 

The massive structure is expected to cost the richest man in Africa, Aliko Dangote, between $12 billion and $14 billion dollars. The refinery is located strategically close to the sea to permit product transportation at the Lekki free trade zone, Lagos, Nigeria.

The refinery provides a huge boost for the midstream sector of the Nigeria oil and gas industry. The refinery is expected to contribute significantly to the domestic demand for petroleum process thus reducing Nigeria’s import of refined products.

Though there has been argument on the feasibility of the refinery commencing operation by 2020, however the project manager Devakumar Edwin in August 2018 argued “ninety-five percent of the engineering has been completed, 90 percent procurement has been completed”. He further stressed that the refinery will be completed in 2019 and commences operation by 2020.

According to finmagazine.com