Dangote To Open World’s Largest Oil Refinery Worth $12B

The $12 billion Dangote Oil Refinery in Lagos which will be the largest in the world will begin operations in 2019 and is expected to produce 650, 000 barrels of oil per day and create over 60 000 jobs for local Nigerians.

Times of Zambia reports that a team of its journalists were taken on a conducted tour of the 2000 acre refinery whose construction works have now reached 15 per cent.

The project with approximately 4,000 engineers from Nigeria will also have the largest sub-sea pipeline infrastructure in the world with the capacity to handle 3 billion cubic metres of oil.

Its located in Likke Free Trade Zone in Lagos with three phases with the first expected to be ready by the end of this year while the second one which is actual construction will end in 2018 and the commencement of operation of the refinery in 2019.

Nigerian officials have said before that the plant is expected to increase Nigeria’s foreign exchange by $5.5 million and reduce imports of refined oil by $7.5 million per year.

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