The Nigerian conglomerate Dangote Group will commission its 650,000 bbl/d refinery in the Lekki Free Zone in Lagos State (Nigeria) in May 2023. The project, whose cost has soared from US$9bn to US$12bn and now to US$19bn, will be able to accommodate multiple grades of domestic and foreign crude and process these into high-quality gasoline, diesel, kerosene, and aviation fuels that meet Euro 5 standards. In 2021, the Federal Executive Council (FEC) authorised NNPC to acquire a 20% stake in the project.
NNPC manages the country’s 3 main refineries (Port Harcourt I and II and Kaduna), with a total capacity of around 450 kb/d. The Warri refinery has been idle since 2016. Since 2019, the country has almost stopped producing refining products as most of the capacity is idle. Nigeria's oil consumption reached 454 kb/d in 2021.
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