Nigeria's Dangote Refinery targets output of 550,000 barrels per day

Nigeria’s Dangote Refinery plans to hit at least 60% of its installed capacity by September and reach 550,000 barrels a day by the end of the year, owner Aliko Dangote said.

The refinery, which produces about half of its 650,000 barrel-per-day capacity at present, intends to start production of gasoline from August, Dangote, who is Africa’s richest man, said Saturday. That will help raise its capacity.

The refinery currently produces diesel and aviation fuel. When fully operational, it will be able to meet Nigeria’s refined products needs and still have enough for exports.

Nigeria, Africa’s biggest crude producer, is expected to become a net exporter of refined products by the end of the year when the refinery is fully operational and the state-owned 210,000 barrel-per-day Port Harcourt refinery comes on stream. Nigeria imported nearly all its refined products until early this year when the Dangote Refinery started producing diesel for domestic markets.