FBN Holding Appoints Otedola As Chairman Days After Return To Forbes African Billionaires
Femi Otedola

Dangote’s $20 Billion Refinery To Propel Nigeria’s Economic Transformation,  Environmental Sustainability- Otedola

1 min read

Femi Otedola, a Nigerian billionaire investor, hailed Aliko Dangote’s colossal refinery project as a game-changer for Nigeria’s economy and environmental goals.

Otedola, in a social media announcement on X (formerly Twitter), extending warm felicitations to his “bestie” Aliko Dangote, labeled the refinery as a venture set to become a beacon of hope for millions in Nigeria and across Africa. “This is the 8th wonder of the world,” he expressed

He emphasized the refinery’s role in Nigeria’s net-zero emissions target by 2060. “With its cutting-edge Carbon capture technologies and storage processes, it will significantly reduce emissions and help Nigeria achieve its net-zero emissions goal,” he stated.

READ ALSO: Dangote, Others Summoned As Gas Production Drops Despite N250bn Fund

Providing further insights, he highlighted the refinery’s remarkable features, describing it as the world’s largest single-train Petroleum Refinery with immense production capacities for petroleum products, including Urea, Polypropylene, Aviation fuel, petrol, and kerosene, mostly for exports. This, he revealed, would generate an estimated annual revenue of $27 billion.

The billionaire investor praised Dangote’s visionary leadership and dedication to excellence in realizing this transformative project. He underscored the refinery’s sustainability measures, emphasizing its role in environmental conservation and reducing CO2 emissions.

“In addition to meeting Nigeria’s refined petroleum product demands, the refinery will ensure energy security and independence, fueling economic prosperity across the subcontinent,” Otedola emphasized.

Previously confirmed by Aliko Dangote during an interview with the Financial Times, the refinery aims to start with a target of 350,000 barrels per day, with plans to scale up production progressively.

In conclusion, Otedola extended heartfelt congratulations to Dangote, recognizing his contribution to Africa’s development and expressing pride in his achievements.

+ posts

Leave a Reply

Your email address will not be published.