TheCable

Lai Mohammed, minister of information and culture, says the Dangote Refinery will guarantee the availability of petroleum products in the country. 

Mohammed said this on Sunday after a tour of the Dangote refinery, petrochemicals and fertiliser projects in Ibeju Lekki, Lagos.

The refinery, which cost an estimated $19 billion to build, has an installed capacity of 650,000 barrels per day.

“We have just been taken on a tour of what is undoubtedly one of the busiest construction sites in the world, the Dangote Refinery and Petrochemical Plant,” NAN quoted the minister as saying.

“Before then, we visited the Dangote fertiliser plant and then the jetty.

“After visiting the facilities, one can conveniently say that Dangote is leading Nigeria’s industrial revolution.”

He said the refinery is due for opening later this year, adding that both projects would guarantee food and energy security for Nigerians.

“The $19 billion refinery will be a game-changer once it comes on stream in terms of employment generation and huge value addition that will contribute to the increase in gross domestic product,” Mohammed said. 

“It will also help in conservation of foreign exchange as there will be no more importation of petroleum products and generation of foreign exchange through export of finished product.

“The refinery will guarantee availability of petroleum products, thus ending petrol queues, and attract foreign capital investments.” 

Devakumar Edwin, group executive director, strategy, capital projects and portfolio development, Dangote Industries Ltd, lauded the government for the support towards the completion of the projects.

“The petroleum refinery can meet 100 per cent of the requirements of Nigeria, of all the liquid products – Gasoline (PMS), Diesel (AGO), Kerosene (DPK) and Aviation Jet Fuel (Jet A-1),” he said.

“While 60 per cent of the production of this petroleum refinery can meet the entire requirement of Nigeria, the rest 40 per cent will go for export, generating huge amount of foreign exchange.”

Aliko Dangote, chairman of Dangote Group, had said the refinery will begin processing crude by the third quarter of 2022.