2013 Aliko Dangote announced that he would be building the world’s largest single-train refinery in Ibeju Lekki spanning 2,635ha.
Almost nearing completion in 2022, what started as a proposed $9b dollar investment in 2013 to be delivered in a few years has turned into an almost 10 year project with over $14bn-$15bn invested so far.
This may be due to supply chain issues, the global pandemic, overestimation of the technicality involved, poor project management, or other unforeseen circumstances.
But nobody said that completing the world’s largest single train refinery with a capacity of 650,000 barrels per day was going to be a mean feat.
The company has once again come to announce that they would be officially starting this year - December 2022.
One reason why I’m mostly poised to believe this new date is that; the current political administration seems to see Dangote Refinery as one of it’s major achievements with political heavy hittters frequenting the massive 2000ha investment regularly for inspection.
Emefiele, the governor of CBN has also anounced that when it is fully running; it would reduce the country’s dependence on forex by 40%, a net positive to the economy.
This administration would be eager to deliver and kick things off the ground before leaving office in 2023.
The Dangote refinery is a massive development in Ibeju Lekki and is already driving massive investment in and around the area - moreso when the refinery is completed and fully operational!
Also important to note is the fact that the Dangote refinery complex also has a fertilizer factory worth about $2.5billion, a petrochemical factory that will produce polyethylene and polypropylene, and gas pipline that would transport 3billion standard cubic metres of gas daily worth about $2.5billion.
Massive investments in this area that has already created an upward of 60,000 jobs and this number is projected to reach 180,000+.
The commercial and residential possiblities in this area is limitless! and it has not even started operating.
Find out more about other developments in Ibeju Lekki.