Refinery costs outgrew initial estimates — Dangote reveals

Aliko Dangote, President of Dangote Industries Limited, has stated that the cost of building his 300,000-barrels-per-day refinery exceeded initial estimates due to naira depreciation, dollar shortages, and rising financing pressures.Speaking during a visit by Nigeria’s Creative Industry to the Dangote Petroleum Refinery, Petrochemicals and Fertiliser, Dangote noted that the project started without a detailed budget, relying instead on estimates from staff members with experience in building refineries elsewhere.