Nigeria’s $12b Dangote Oil Refinery, which will be the largest in the world slated for Lagos, will be in full operation by 2019 and is expected to produce 650,000b/d of oil.
Dangote Industries said that the recent discovery of oil in Lagos State in commercial quantity is a good sign for the development of the oil and gas industry in the country.
Nigeria will sell off 15% of the Nigerian National Petroleum Corporation's (NNPC) and Nigeria LNG Limited's (NLNG) oil and gas assets to help revive the country's economy, with an expected yield of $10b.
Aliko Dangote, Africa’s richest man, plans to quadruple the supply of gas to Nigeria by building pipelines that may be backed by Carlyle Group LP and Blackstone Group LP, the world’s two biggest private-equity firms.