Buhari, other presidents to inaugurate Dangote refinery

President Muhammadu Buhari will lead five other African Presidents to inaugurate the Dangote Petroleum Refinery & Petrochemicals.

The Presidents are Faure Gnassingbé (Togo), Nana Akufo-Addo(Ghana); Macky Sall (Senegal), Mohamed Bazoum (Niger Republic), and Mahamat Déby(Chad). Also expected in attendance is the President-elect, Bola Ahmed Tinubu.

Rwanda President Paul Kagame will send a goodwill message virtually.

The Dangote refinery is a 650,000 barrels per day (bpd) capacity facility that is sitting on 2,635 hectares in the Dangote Industries Free Zone, Ibeju Lekki, Lagos State. It is the world’s largest single-train refinery expected to provide direct and indirect employment to more than 100,000 persons.

The refinery is expected to become the flagship of the Dangote Group, a conglomerate of Africa’s richest man, Alhaji Aliko Dangote.

Experts and stakeholders are unanimous that the coming onstream of the project would have a transformative impact on the global profile of Nigeria and the national economy.

Nigeria is expected to exit the league of oil-rich nations that are heavy importers of petroleum products. Experts agree this alone would have positive multiplier effects on the country’s foreign exchange (forex) and currency stability.

According to the fact sheet, the refinery can meet 100 per cent of the Nigerian requirement for all refined products-Gasoline, 53 million litres per day; Diesel, 34 million litres per day; Kerosene, 10 million litres per day, and Aviation Jet, 2 million litres per day.

All major Nigerian stakeholders have hailed the inauguration as a new dawn for the Nigerian economy.

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