The Federal Government has described the Dangote Petroleum Refinery and Petrochemicals as a key pillar of Nigeria’s ambition to build a $1 trillion economy, pledging stronger collaboration with the private sector to accelerate industrialisation, job creation and economic growth.
Minister of State for Industry, Senator John Owan Enoh, made the remarks after leading a delegation from the Ministry on a tour of the 700,000 barrels-per-day Dangote Refinery, the petrochemicals complex and Dangote Fertiliser Limited in Lagos.
Enoh said the refinery has transformed global perceptions of Nigeria by helping the country move from a major importer of refined petroleum products to an exporter serving international markets.
He added that the facility is a strong example of value addition and industrial competitiveness, noting that it aligns with the Nigeria Industrial Policy, which aims to increase manufacturing’s contribution to Gross Domestic Product to 20 per cent by 2030 and 25 per cent by 2035.
The minister also pledged continued engagement with Dangote Industries Limited through the Industrial Revolution Work Group and ministerial roundtables to address challenges facing manufacturers, particularly access to affordable long-term financing.
President of Dangote Industries, Aliko Dangote, urged the government to make industrialisation the centrepiece of its economic strategy, insisting that no country has achieved prosperity without a strong manufacturing base.
Dangote revealed that the refinery, when operating at full capacity, will account for the equivalent of about 10 per cent of the United States’ refining capacity and consume approximately 2.5 per cent of globally traded crude oil.
He also called for consistent government policies to boost investor confidence, describing policy stability as more important than incentives in attracting investment and driving long-term economic growth.
