Africa’s richest man, Alhaji Aliko Dangote has expressed confidence in his current project of building one of the world’s biggest refineries in Lagos.

Dangote says that when the refinery start operations in the next two years, he is expecting total group revenue to grow to about $30 billion from $4 billion. Dangote also says that he plans to include investing about 60% of profit outside Africa, including the United States and the United Kingdom.

On Dangote Cement, Dangote says that the expansion plan includes broadening his cement capacity on the continent by 29% to 62 million tons, thereby entrenching his flagship company’s position as the continent’s biggest producer of the construction material.

According to the billionaire, six million tons will be added in Nigeria next year, taking volume in Dangote Cement Plc’s home market to 35 million tons. Dangote also says other expansion plans are geared towards West Africa, including Niger and Cote d’Ivoire. The 62-year-old told shareholders in June that the company planned to open plants in Nigeria that would allow it export clinker to grinding plants in Cameroon and West Africa.

The refinery was initially projected to fully commence its operations by the first quarter of 2020. However, there had been worries that the timeline might no longer be feasible as there were challenges that could see the 650,000 barrels per day (bpd) refinery commence its operations not earlier than the end of next year (2020). This is contrary to Dangote’s announcement last year, during the FT Africa Summit in London, that he expected the technical work on the refinery to be completed by the end of 2019 and actual operation to commence in 2020.

Dangote Refinery World’s Largest Atmospheric Tower For Processing Crude Oil arrives Nigeria.

Nigerians woke up to see the news of Dangote’s refinery trending on the social media early this week and this is because World’s Largest Atmospheric Tower that’s leaving China to Nigeria. A piece of equipment, atmospheric tower, that will process crude oil for Nigeria’s Dangote refinery set sail on Monday from China to Lagos – According to the manufacturer, the tower is the largest in the world and will likely take at least a month to reach Lagos

Dangote Refinery planned to be producing 650,000 barrel per day (BPD) is set to be Africa’s largest World’s largest atmospheric tower built for Nigeria’s Dangote Refinery has left the port in China en-route to Nigeria, according to the manufacturer, Sinopec, China’s leading energy and chemical company. Sinopec, on Monday, July 29, made this known on its verified Twitter handle, sharing photos of the tower. “On July 29, the world’s largest atmospheric tower built by Sinopec slowly left a wharf in Ningbo. Following the Maritime #SilkRoad, it will travel to #Nigeria and be installed at the world’s biggest single-train facility Nigeria’s Dangote Refinery,” the tweet reads.

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