President Muhammadu Buhari has today unveiled the 650,000 barrels per day capacity Dangote refinery and petrochemicals at Lekki free zone, Lagos.
Valued at 18.9 US dollars, the refinery is reportedly the largest in the world with 1,100 kilometres, and will handle 3 billion standard cubic foot of gas per day, produce Euro-V quality gasoline and diesel, as well as jet fuel and polypropylene.
One of Nigeria’s single largest investments, it has a 435-megawatt power station, deep seaport and fertilizer unit and the refinery is expected to meet 100 per cent of the Nigerian requirement of all refined products, as it will be processing crude and also have a surplus of each of these products for export.
President Buhari who described the project as a milestone and game changer for the Country and Africa, noted that the Dangote group had transformed the Nigerian economy.
“This is not the first time the Dangote Group under Alhaji aliko Dangote is putting Nigeria on the global map through his bold, visionary and courageous investments in key industries, the group has helped transformed our economy from heavy import dependence to a net exporter in some critical industries ncludong cement and fertilizer” President Buhari noted.
President Buhari also expressed confidence in the incoming administration’s capacity to strengthen the nation’s economy.
The President elect, Chief Bola Tinubu who was represented by the Vice President elect, Senator Kashim Shettima, commended Alhaji Aliko Dangote and urged other entrepreneurs in the Country to emulate him.
In a goodwill message, the President of Ghana, Nana Akufo-Addo noted that the project makes Africa better, while that of Senegal, President Macky Sall, who also spoke for his Togolese counterpart, Gnassingbé Eyadéma, stated that the Dangote Groups had been part of the solutions to African problems.
A goodwill message was also delivered by the President of Niger, Mohamed Bazoum, who spoke in the Hausa language
In a remark, Lagos State Governor Babajide Sanwo-Olu expressed pride in Alhaji Aliko Dangote and all he has done, especially for the youths
Governor Sanwo-Olu said “It’s about the opportunity this has provided for all the youths in our country, indirect and direct jobs for our youths afford them to believe that indeed, Nigeria is a place for them”
Welcoming guests from far and near, the President of Dangote groups, Alhaji Aliko Dangote said the Refinery and Petrochemicals was built with the aim to reposition Nigeria as a key player in the global downstream market.
Our huge investment is prompted by our desire to support and contribute our quota to the Federal Government’s sustaineefforts to transform our economy and properly positioned our country as a leading nation in Africa. Our first product will helit the market before the end of July this year.”
He promised that the feat will be replicated in other sectors, even as the plant is run efficiently to enable global competition