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The Dangote Refinery outside Lagos is the biggest single-train oil refinery in the world and one of the most complex, capable of processing most global crude types.
African billionaire Aliko Dangote is wealthier than ever now that his long-awaited Nigerian oil refinery is up and running. But his mood suggests a man who just built his dream house only for the roof to start leaking.
The Dangote Refinery outside Lagos is the biggest single-train oil refinery in the world and one of the most complex, capable of processing most global crude types. It has the potential to transform Nigeria’s economy by making the country self-reliant for fuel. It has more than doubled Dangote’s net worth to USD 27.8 billion, according to the Bloomberg Billionaires Index.
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For Dangote, who made his first billions in cement, the refinery was the most audacious undertaking of his 46-year career. Building it took 11 years and USD 20 billion, three-and-a-half times as long and more than twice as much as initially planned. He financed most of it himself.
