Nigeria is one of the world’s largest oil producing nations but its fuel pumps run dry every other month forcing consumers and businesses to by the product at super normal prices and after queuing for hours.

The country produces over 2 million barrels of crude oil per day, but its aging refineries can only generate less than 100,000 barrels a day, which is not even enough to serve the country’s most populous city, Lagos.

The country’s four state-owned refineries are currently operating at just 5 percent capacity following decades of poor maintenance, mismanagement and corruption.

Aliko Dangote, Africa richest man according to Forbes, has invested an estimated $15 billion in  refinery that will clean up about 650,000 barrels per day and effectively end the country’s chronic fuel shortage for once and for all, CNN  reported.

The refinery, which Dangote claims will be the world largest, will be ready by 2018 and could make Nigeria an exporter of gasoline and other petroleum products to neighboring countries.

The petrochemical plant covers 250,000 hectares and is located in Lekki Free Trade Zone in Lagos.

The Central Bank of Nigeria, has said that it would assist the Dangote Group to access foreign exchange to facilitate the refinery project. This will ease the importation of equipment needed to bring the Dangote refinery to reality, Premium Times reported.

Plunging crude oil prices on the international market since the last quarter of 2014 and recent increased attacks on oil pipelines by militants in the southern pert of the country, threatens to much Africa’s largest economy into recession.