Fakoyejo Olalekan
On Monday, 22 May 2023, the richest man in Nigeria, Aliko Dangote, will be joined by seven African Presidents to commission Dangote Petroleum Refinery & Petrochemicals.
Dangote refinery, which is the world’s largest single train refinery, is situated at Ibeju-Lekki, Lagos, which means seven African leaders will be gracing Nigeria’s economic hub in one day.
Join our WhatsApp ChannelThe six African Presidents to converge at the Dangote Refinery for the launch are; President Muhammadu Buhari; Ghana’s President, Nana Akufo-Addo and that of Senegal, Macky Sall.
Other African leaders billed for the historical event, being the first refinery built by a private businessman in Nigeria, are the President of Togo, Gnassingbé Eyadéma; President of Chad, Mahamat Déby and President of Niger Republic, Mohamed Bazoum.
According to reports, President Paul Kagame of Rwanda will be present virtually to deliver his goodwill message to Dangote and his investors.
Also, Nigeria’s President-elect, Bola Tinubu, who will take over from President Buhari on 29 May, will be present at the commissioning holding in the state he once governed. He also launched the Lekki Free Trade Zone where Dangote Refinery is situated.
Other Nigerian dignitaries expected at the events are governors from the country’s 36 states, as well as governors-elect, ministers and lawmakers.
Nine things you need to know about Dangote Refinery
- Dangote Refinery has a processing capacity of 650,000 barrels per day (bpd).
- Report shows that Dangote Refinery can produce 53 million litres of Gasoline, per day; 34 million litres of Diesel per day; 10 million litres of Kerosene per day, and 2 million litres of Aviation Jet per day.
- The refinery will produce several African-type crudes, as well as some of the crudes in Middle Eastern Crudes. Also on the list is the Light Tight Oil in the US.
- Dangote Refinery will make Nigeria a crude oil refiner, ending years of being dependent on the importation of petroleum products.
- The refinery has the capacity to produce 100 per cent of Nigeria’s refined oil products demand.
- Dangote Refinery will make Nigeria an exporter of refined products to African and European markets.
- It will reduce Nigeria’s spending on foreign exchange (Forex) and increase Forex inflow into the country, with the country earning about $21 billion per annum.
- Following the commencement of the Dangote Refinery operation, it will provide over 100,000 direct and indirect jobs.
- Dangote Refinery has a 435 MW Power Plant that can power the whole of Oyo, Ogun, Osun, Kwara and Ekiti, as it meets the total power requirement of Ibadan DisCo.
