President Muhammadu Buhari will commission Dangote Refinery on May 22, Bashir Ahmad, special assistant to the president on digital communications announced on Sunday.
The refinery’s output is expected to provide for local consumption as well as make Nigeria an exporter of refined crude.
“Efforts by the Federal Government to make Nigeria self-sufficient in local refining of crude oil to save the scarce foreign exchange used in the importation of petroleum products have received a boost as the 650,000 barrels per day Dangote Refinery, the world’s largest single-train refinery, is set for inauguration on May 22nd, 2023, by President Muhammadu Buhari,” Ahmad wrote in a tweet on Sunday.
Efforts by the Federal Government to make Nigeria self-sufficient in local refining of crude oil to save the scarce foreign exchange used in the importation of petroleum products have received a boost as the 650,000 barrels per day Dangote Refinery, the world’s largest… pic.twitter.com/b6KRHOuy12
— Bashir Ahmad (@BashirAhmaad) May 7, 2023
The integrated refinery and petrochemical project is expected to generate 9,500 direct and 25,000 indirect jobs
The 650,000 barrels per day (BPD) refinery with an estimated building cost of $19 billion is located in the Lekki free trade zone area of Lagos state.
It is the largest oil refinery in Africa and the world’s biggest single-train facility.
In June 2021, Mele Kyari, group managing director, NNPC, confirmed that the federal government would acquire a 20 percent equity stake in the Dangote Refinery.
The federal executive council (FEC) later approved the sum of $2.76 billion for the acquisition of a 20 percent minority equity stake in the refinery.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
