Ukpono Anietie, PH.
President Muhammadu Buhari has inaugurated the highly anticipated Dangote Petroleum Refinery and Petrochemicals located in Lagos on Monday, May 22, 2023.
This monumental project is poised to revolutionize the nation’s oil industry and have far-reaching implications for Nigeria’s economy.
The Dangote Refinery is expected to produce a wide range of refined products, including Premium Motor Spirit (PMS), diesel (AGO), aviation jet fuel, and Dual-Purpose Kerosene (DPK).
With a daily production capacity of 650,000 barrels, it is positioned to meet the entire demand for refined petroleum products within the country.
President Buhari, who officiated the inauguration, expressed his belief that the refinery will be a game-changer and a milestone for Nigeria’s economy.
Aliko Dangote, the President/CEO of Dangote Industries Limited and the visionary behind the project, expressed his gratitude to President Buhari for his unwavering support and inspiration throughout the journey.
Dangote also highlighted that the operation of the refinery will create an enormous number of job opportunities, potentially reaching hundreds of thousands.
Moreover, the benefits of the refinery are not limited to job creation.
According to the Governor of the Central Bank of Nigeria, Godwin Emefiele, who spoke at the inauguration said, the Dangote Refinery is expected to generate a staggering 12,000 megawatts of electricity and over 135,000 permanent jobs.
Furthermore, it is projected to save Nigeria between $25 billion and $30 billion in foreign exchange annually, while contributing $10 billion to the economy every year.
Earlier, the Nigerian National Petroleum Corporation (NNPC) Limited made a commitment to support the Dangote Refinery by promising to supply 300,000 barrels of crude oil for the initiation of operations.
The inauguration ceremony also witnessed the presence of notable figures, including Labour Party’s Presidential candidate Peter Obi, Lagos State Governor, Babajide Sanwo-Olu, Osun State Governor, Ademola Adeleke, Deji Adeleke, Nigeria’s Vice President-Elect Kashim Shettima, and President Nana Akufo-Addo of Ghana, among others.
The Dangote Refinery stands as a testament to its architectural grandeur and strategic infrastructure.
Nestled on an expansive land area that is more than three times the size of Victoria Island, the refinery commands attention from afar.
Its state-of-the-art facilities include a dedicated port capable of accommodating the largest vessels in the world, ensuring a seamless supply chain for petroleum products within Nigeria.
To ensure uninterrupted operations, the Dangote Refinery boasts a self-sufficient power plant, generating an impressive 435 megawatts of electricity.
This not only guarantees independence from the national power grid but also positions the refinery as a significant contributor to Nigeria’s energy needs.
One remarkable aspect of the refinery’s construction journey is its sustainable approach.
The project relied on the world’s largest granite quarry, built with an annual capacity of 10 million tonnes.