How Dangote refinery Is transforming Nigeria’s maritime economy

Dangote Petroleum Refinery has said its offshore terminal currently receives 90 i8 about 75 tanker vessels every month and expects the figure to rise to between 900 and 1,000 tanker calls yearly as the refinery reaches full production capacity.

The company’s Head of Port Infrastructure and Marine Operations, Captain Satendra Singh Rana, disclosed this during a tour of the refinery’s marine facilities by participants of the Global CEO Africa Programme of Lagos Business School.

According to Rana, the refinery has handled about 1,100 tanker calls since it began operations, a development he said is helping to transform Nigeria’s energy and maritime sectors.

He explained that crude oil is delivered by large vessels to offshore terminals known as Single Point Moorings (SPMs). The crude is then transported through underwater pipelines to storage tanks onshore before being processed into refined petroleum products.

After refining, products such as petrol, diesel and aviation fuel are pumped through separate pipelines back to offshore terminals for export or local distribution.

Rana said the refinery operates five offshore SPMs. Two are used for receiving crude oil, while three are dedicated to loading refined products.

He noted that the offshore system allows very large vessels to dock in deep water without the need for expensive dredging, making operations more efficient and cost-effective.

According to him, some of the largest vessels visiting the terminal carry as much as three million barrels of crude oil. He added that Very Large Crude Carriers carrying about two million barrels regularly call at the facility, while Suezmax tankers often deliver one million barrels of crude from both local and international sources.

Rana also said the offshore location gives the refinery an advantage because it is less affected by severe weather conditions, allowing marine operations to continue throughout the year.

Speaking during the visit, the Academic Director of the Global CEO Africa Programme at Lagos Business School, Enase Akinwuntan, described the refinery as a major example of what African businesses can achieve through local investment.

She said the project, led by billionaire businessman Aliko Dangote, shows how private-sector investments can support industrial growth, create jobs, strengthen regional trade and reduce dependence on imported petroleum products.

Visitors were taken around key sections of the refinery, including the gantry, processing units, laboratory, control room and crude oil storage tanks. They also attended a session where company officials explained the refinery’s operations and logistics.

Meanwhile, the refinery recently confirmed that it raised $2.5 billion through a private placement ahead of its planned Initial Public Offering (IPO) later this year.

Group Executive Director of the refinery, Devakumar Edwin, said the funds would be used to support the next phase of expansion

. The refinery is currently valued at about $39.1 billion, and market observers are closely watching the planned IPO, which is expected to be one of the biggest listings in Nigeria’s capital market.