Jubilation in Nigeria as the Dangote refinery and petrochemicals began Production of petroleum products.
This was announced by the Chairman of the Dangote Group, Alhaji Aliko Dangote on Tuesday.
Dangote Oil Refinery is a 650,000 barrels per day (BPD) integrated refinery located in the Lekki Free Zone near Lagos, Nigeria.
It is Africa’s biggest oil refinery and the world’s biggest single-train facility.
The Pipeline Infrastructure at the Dangote Petroleum Refinery is the largest anywhere in the world, with 1,100 kilometers to handle 3 Billion Standard Cubic Foot of gas per day.
The Refinery alone has a 435MW Power Plant that is able to meet the total power requirement of Ibadan DisCo.
The Refinery will meet 100% of the Nigerian requirement of all refined products and also have a surplus of each of these products for export.
Dangote Petroleum Refinery is a multi-billion dollar project that will create a market for $21 Billion per annum of Nigerian Crude.
It is designed to process Nigerian crude with the ability to also process other crudes.
Speaking on the development, Aliko Dangote said, “I will like to salute the people of Nigeria, and the government of President Bola Tinubu for creating the environment for us to thrive, and for us to also achieve this monumental task of giving energy to our people for growth, development and prosperity. This is a great move.
“I want to personally also thank Mr. President, Bola Ahmed Tinubu for creating this idea of naira for crude, and also naira for the products. Doing that will give a lot of stability for the naira. If you remove 40 percent of the demand of dollars in the market, that will actually stabilize the market. You know there is quite a lot of round-tripping where people now do documentation and the fuel does not come into Nigeria, and this is a fact, so right now, as we have this refinery working, it will show true consumption of Nigeria. We can track every single loaded truck. And we will try as much as possible to track loaded ships. Trucks, we can tell you where they are. Just like now in some of the products that we do we can tell you exactly the consumption pattern and co. But that is a discussion for another day.
“Today’s discussion is to celebrate, and to thank God Almighty for bringing us to this stage for now producing gasoline, and I know a lot of people did not believe we will be able to deliver, but we have been able to deliver. I must thank Mr. Devacumar Edwin, who is the Vice president, oil and gas, Dangote Industries Limited for having sleepless nights for no vacation in the last seven years. We also thank our Vice President, Dangote Industries Limited, Mr. Olakunle Alake for making sure that everything works perfectly, and finances also in order to be able to meet up with this challenge, and Fatima Dangote for doing a great job.
“We must thank the President and the government for making this possible, without their support there is no way we will be where we are, so we thank them. And I hope that this refinery will change the entire dynamics, not only in Nigeria, but also sub-saharan Africa. That capacity we have will not only meet the Nigeria’s demand, it will meet up with the demands of the Sub-saharan Africa”, he said.
