Alhaji Aliko Dangote, founder, and president of the Dangote Group expressed optimism On Monday, that the newly launched 650,000 BPD refinery would employ more than 100,000 Nigerian youths and bring in more than $21 billion in revenue.
He claims that by doing this, the nation will save a tonne of money that would have been used to import fuel.
He added that the refinery now employs more than 33,000 people and that the first items from it would be available on the market at the end of July this year.
He said: “Beyond today’s ceremony, our first goal is to ramp up production of the various products to ensure that within this year, we’re able to fully satisfy our nation’s demand for higher quality products.”
He said that the achievement will allow Nigeria to end the agony of import dependence and put an end to the “once and for all” dumping of harmful, subpar petroleum products into the Nigerian market.
“Beyond this, we intend to ensure that our plants are run at the highest capacity of utilisation and the highest efficiency to enable us to export competitively to other markets, especially in the Economic Community of West African States, ECOWAS, and wider regions in which 53 of the 55 countries are dependent on imports to meet their petroleum products’ demand,” Aliko Dangote added.
The multibillionaire industrialist cited the African Union’s commitment to the formation of an African single market through the African Continental Free Trade Area, or AfCFTA, in asserting that the initiative represented the realisation of a “clear opportunity” for Nigeria.
Among other refined products, the facility is anticipated to manufacture Premium Motor Spirit (petrol), diesel (Automotive Gas Oil), aviation jet fuel and Dual-Purpose Kerosene (DPK).