Aliko Dangote, President of Dangote Industries Limited and Africa’s richest man, has announced he is taking a well-deserved rest following the successful completion of his $20 billion refinery project. The 650,000-barrel-per-day Dangote Petroleum Refinery, located near Lagos, is set to transform Nigeria’s oil industry by reducing the country’s reliance on fuel imports.

Speaking at the groundbreaking ceremony of First Bank’s new 40-story headquarters in Eko Atlantic City, Lagos, Dangote reflected on the immense challenges faced during the construction of the refinery, describing it as the biggest risk of his life. He mentioned that he went through a tough time but is now taking a rest after successfully delivering the project.

The Dangote Refinery, which began operations in early 2024, has started exporting refined products to other countries in Africa and the Middle East. This development is expected to disrupt the oil and gas market in the region and globally.

Despite facing numerous challenges, including a fire incident in June 2024 that was swiftly contained without casualties, the refinery is on track to reach its maximum refining capacity of 650,000 barrels per day in the coming months. This capacity is expected to meet 100% of Nigeria’s fuel demands, with surplus products available for export.

Dangote’s contribution to Nigeria’s industrial sector extends beyond the refinery. His investments in various industries have significantly impacted the nation’s economy, providing employment opportunities and fostering economic growth. As he takes a moment to rest after the successful delivery of the refinery, the nation anticipates the positive ripple effects of this monumental project.