BY Bunmi Aduloju
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the Dangote Refinery project is now 97 percent completed.
NMDPRA said this a in a tweet while receiving the company’s 2022/2023 work plan on Wednesday.
The authority said the work plan showed that the project is in its advance stages.
“Today, representatives of the Dangote Refinery and Petrochemicals presented their 2022/2023 work plan to the authority which showed that the refinery project is estimated to be at 97 percent completion,” the tweet reads.
“Dangote Oil Refinery is a 650,000 barrels per day (BPD) integrated refinery project under construction in the Lekki Free Trade Zone, Lagos. It is expected to be Africa’s biggest oil refinery and the world’s biggest single-train facility.”
Farouk Ahmed, chief executive officer, NMDPRA, while speaking at the event, reiterated the importance of the refinery to the country while assuring that the authority will give all necessary support to ensure timely completion and kickstart operations.
In January, Aliko Dangote, president and chief executive officer (CEO) of Dangote Group had said the refinery would begin processing crude by the third quarter of 2022.
However, in what appears to be a change of stance, Dangote, in April, said his oil refinery will be commissioned before the end of President Muhammadu Buhari’s tenure.
Furthermore, Mele Kyari, group chief executive officer (GCEO), in August, said the refinery will commence operations by the middle of next year.
Meanwhile, the Nigerian National Petroleum Company (NNPC) Limited had announced plans to seek equity participation in at least six private refinery projects.
In June 2021, Mele Kyari, group managing director, NNPC, confirmed that the federal government would acquire a 20 percent equity stake in the Dangote Refinery.
In August 2021 the federal executive council (FEC) approved the sum of $2.76 billion for the acquisition of a 20 percent minority equity stake in the refinery.
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