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$21bn Revenue And 100,000 Jobs Coming From Our Refinery, Dangote Speaks



According to Vanguard, Dangote Group founder and president Alhaji Aliko Dangote expressed optimism yesterday amidst the praises of notable figures including President Muhammadu Buhari and presidents of five other African countries that the newly commissioned 650,000-barrel refinery employing more than 100,000 Nigerian youth every day would generate sales of over 21 billion US dollars.

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According to him, this would save the country huge amounts of foreign exchange that would have been spent on fuel imports.

He also announced that the refinery’s first products would hit the market towards the end of July this year, adding that the refinery currently employs over 33,000 people.

At the inauguration of the refinery by President Buhari in Ibeju-Lekki, Lagos, Dangote said its products will be on the market before the end of July.

The various products is to ensure that by the end of this year, we will able to fully meet our country’s demand for higher quality products.

According to him, the achievement is to enable Nigeria to eliminate what he called the tragedy of import dependency, and stop toxic, substandard petroleum products from being dumped in the Nigerian market once and for all.

Furthermore, we want to ensure our plants are running at peak utilization and efficiency so that we can export competitively to other markets, particularly the Economic Community of West African States, ECOWAS, and more regions where 53 countries with 55 inhabitants are on imports to meet the demand for petroleum products, he added.

The billionaire businessman said the project is the realization of a clear opportunity for Nigeria, citing the African Union’s commitment to creating a common African market through the African Continental Free Trade Area (AfCFTA).

The facility is expected to produce premium motor spirit (gasoline), diesel (automotive gas oil), jet fuel, and dual-purpose kerosene (DPK), among other refined products.

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