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The nation will save a ton of money that would have been used to import fuel – Dangote



Alhaji Aliko Dangote, founder and president of the Dangote Group, expressed optimism yesterday amid lauds from notable figures, including President Muhammadu Buhari and presidents of five other African nations, that the newly launched 650,000pbd 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 ton of money that would have been used to import fuel.”

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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.

At the President Buhari-led Refinery’s inauguration in Ibeju-Lekki, Lagos, Dangote announced that his company’s goods “will be in the market before the end of July.”

Beyond today’s ceremony, he declared: “Our first objective is to increase production of the various products so that, by the end of this year, we can fully meet 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, he continued, “We intend to make sure that our plants are operated at the highest possible capacity of utilization and efficiency to give us the ability to export competitively to other markets, especially in the Economic Community of West African States, ECOWAS, and wider regions, where 53 of 55 countries are dependent on imports to meet their demand for petroleum products.

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 realization of a “clear opportunity” for Nigeria.

This article is according to Vanguard paper. Dear esteemed readers, what are your comments?

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