Dangote Industries acquires 4,000 machines for refinery expansion

Dangote Industries Limited has acquired 4,000 additional pieces of construction equipment to support the expansion of its refinery in Ibeju-Lekki, Lagos. This acquisition brings the company’s total fleet to approximately 6,500 machines, including 330 cranes.

Devakumar Edwin, the group’s Vice President for Oil and Gas and Fertiliser, stated that the decision to purchase equipment rather than hiring foreign contractors was directed by Aliko Dangote. The strategy aims to reduce costs by avoiding the expenses associated with shipping foreign equipment into Nigeria and the subsequent depreciation costs passed on by international firms.

The expansion project intends to increase the refinery’s capacity from 700,000 to 1.4 million barrels per day. The project, which has an estimated capital cost of $19.5 billion, is expected to be completed by 2029, with the goal of creating the world’s largest single-train refinery by 2028.