Dangote Refinery Reaffirms Commitment To Creating $21Bn Annual Market For Nigerian Crude
By Sunday Etuka, Abuja
The Dangote Refinery and Petrochemicals has reiterated its commitment to creating a market of $21 billion per annum of Nigerian crude.
Vice President, Oil & Gas, Dangote Industries Limited (DIL), Mr. Devakumar Edwin, restated the company’s commitment at the weekend, when he received the League of Engineering Bodies in Nigeria at the complex in Lagos.
The company, in a statement on Sunday, said, the League comprises the National Society of Engineers (NSE), the Nigerian Academy of Engineering (NAE), the Association of Consulting Engineering in Nigeria (ACEN), and the Council for the Regulation of Engineering in Nigeria (COREN).
Speaking around the monopoly tag, Mr. Edwin said, someone has to start a project before others follow.
He explained that “Nigeria was one of the largest importers of cement; then we started manufacturing cement, and then we became exporters, same thing applies to sugar, salt, and now fertiliser. This breakthrough opened the doors for other investors in those industries, and Nigeria is better for it.
“What motivates Mr. Dangote is his sheer interest in the Nigerian project. It is true, we are in business to make money, but the question is, where is the money going? Every dollar Dangote is making goes back to the Nigerian economy, from cement to salt, sugar, and fertiliser.”
“The business strategy of the Dangote Refinery is to minimise the energy cost and the overall cost of production; build the most environmentally friendly; maximise value addition; maximise gasoline, which is in high demand with about 55 percent of the production capacity compared to 22 percent of the existing refineries in Nigeria; strategically located marine infrastructure for crude receipt and product evacuation; state-of-the-art technology; produce Euro V products; provide crude flexibility; and create a market of $21 billion per annum of Nigerian crude,” Mr. Edwin said.
Also speaking, the Technical Consultant to Dangote Refinery, Engr. Babajide Soyode, said the visit of his professional colleagues, made him “very proud.”
He added that “I knew the project was a hard one, but Aliko Dangote is harder. He follows up on his passion. His corporate vision is to meet the needs of the people. It is the greatest honour of my life to be part of this project.”
The Dangote Refinery is poised to begin production of petrol, according to Mr. Edwin, a process that is expected to complement the current products at the refinery, stimulate local supply of the vital product to Nigerians, and save huge foreign exchange revenue for the country.
During an interactive session, the 34th and first female President of the Nigerian Society of Engineers, Margaret Oguntala, described the facility as “mind-blowing.” She added that the refinery project, from construction to employment, gives her hope and assurance that young Nigerian engineers are ready to take up the world.
“I was awed to see the state-of-the-art facility at the Dangote Refinery; what I see here today will blow the mind of any engineer; it is just like the movies. I was an intern at the Port Harcourt Refinery, and I also visited the Kaduna Refinery, it is nothing compared to what I see here. The young engineer that took us around showed capacity, and we are happy that you are building the future of engineers. We at the NSE are behind you, we shall take this home and let the world know that engineering is alive at the Dangote Refinery,” she added.
Speaking on behalf of the Nigerian Academy of Engineering, Prof. Azikwe Peter Onwualu also noted that the visitors have seen “something good, and Nigerians need to know about it.”
Prof. Onwualu added, “We are happy some of our fellows are part of your system. We would like to remind the President of the Dangote Group, Mr. Aliko Dangote, that if you are not doing something great, you will not be criticised. Whatever you are doing, keep it up. If we have this kind of development across Nigeria, people won’t be talking about protests. Keep doing what you are doing, and you will hear from us.”
Also, President of Council for the Regulation of Engineering in Nigeria, COREN, Prof. Sadiq Abubakar, enthused that Nigerian engineers are not inferior to their counterparts globally, and the Dangote Refinery is visible proof of this. “We have known this as a fact that Nigerians are no less in engineering globally. We know our capabilities, and this attests to it. What we saw today is emotional, and I wonder what the motivation for this colossal investment is. We would like to encourage him for keeping the spirit of a true Nigerian.”
