Billionaire businessman Femi Otedola has publicly congratulated fellow industrialist Aliko Dangote after the Dangote Petroleum Refinery reached its full designed production capacity of 650,000 barrels per day (bpd), a milestone that marks a significant moment for Nigeria’s energy sector and industrial landscape. 

In a statement shared on his verified X (formerly Twitter) handle, Otedola described the achievement as a landmark moment for both Dangote and the broader African continent. He noted that scaling up to full nameplate capacity reflects not just engineering success but also heralds a transformational shift in Nigeria’s refining capabilities. 

“I congratulate my friend and brother, @AlikoDangote, on the remarkable achievement of the Dangote Petroleum Refinery reaching its full 650,000 barrels per day capacity,” Otedola said in his statement. He added that the milestone goes beyond crude numbers and represents a significant shift for the country’s energy landscape. 

According to Otedola, the refinery’s capacity to produce up to 75 million litres of Premium Motor Spirit (PMS) daily could help reduce Nigeria’s historic reliance on imported refined products. He said this would conserve foreign exchange and support the national economy, a development that has attracted widespread attention from economists and industry watchers alike. 

Otedola also expressed optimism about the potential macroeconomic benefits of the refinery’s new output level. He highlighted that ongoing domestic refining could ease pressure on the foreign exchange market and support a stronger naira, possibly moving towards trading below ₦1,000 to the dollar before the end of the year. This view aligns with broader analyses suggesting that reduced fuel imports could help conserve foreign reserves and stabilise currency demand. 

The Dangote Petroleum Refinery, which is already recognised as Africa’s largest single‑train refining facility, recently completed optimisation and restoration work on key processing units, including the Crude Distillation Unit and the Motor Spirit production block. These efforts enabled the plant to reach and sustain its full design capacity, a feat the company says is a first for a facility of this scale globally. 

The refinery management initiated a series of intensive performance tests over a 72‑hour period in collaboration with its technology licensor to affirm stable operations, marking a key stage in ensuring consistent, world‑class output. 

Industry observers say the refinery’s full‑capacity operation could have far‑reaching implications for Nigeria’s fuel supply chain, potentially reducing the need for imports that have long strained foreign exchange reserves. Experts also note the ripple effects on job creation, petrochemicals production, and downstream industries. 

Beyond pumping refined products into the domestic market, the refinery’s output is expected to support exports to neighbouring countries, adding to Nigeria’s role in regional energy security. The facility’s strategic location in the Lekki Free Trade Zone in Lagos and its infrastructure network are central to these expanded ambitions. 

Otedola’s congratulations to Dangote also touched on future plans, as the refinery’s founder has publicly outlined intentions to expand capacity further in the coming years, potentially doubling throughput to 1.4 million bpd. Such expansion could reinforce Nigeria’s path towards self‑sufficiency and industrial growth. 

The milestone has attracted praise from business leaders, policymakers, and the public, who see it as a positive signal for domestic refining and economic diversification. With local refining now fully underway, the achievement is a notable chapter in Nigeria’s efforts to transform its energy sector and reduce dependency on imported fuels.