The $20 billion Dangote Petroleum Refinery & Petrochemicals commended as a symbol of industrial revolution, driving Nigeria’s economic emancipation.
The Technical Committee of the One-Stop Shop (OSS) for sale of crude and refined products in naira initiative made this commendation during a tour of the facility.
Maureen Ogbonna, Coordinator of the OSS Technical Committee, described the refinery as a “breath of fresh air” that impacts virtually every sector of the economy, from pharmaceuticals to construction, food, and plastics.
She emphasized that the project is transformational and a beginning of an industrial revolution.
The refinery’s capacity to meet 100% of Nigeria’s domestic demand for petrol, diesel, kerosene, and aviation jet fuel, with a surplus available for export, positions Nigeria as a major global exporter.
The OSS Technical Committee is committed to eliminating regulatory, operational, and logistical barriers that hinder the smooth supply and sale of domestic crude oil and refined products in naira.
This aligns with President Bola Tinubu’s vision of achieving full domestic sufficiency in petroleum products.
Ogbonna expressed awe at the refinery’s scale and sophistication, particularly its laboratory, which she described as an institution.
She urged Aliko Dangote to remain focused and undeterred by detractors, emphasizing that the project is a global achievement, not a personal enterprise.
In response, Dangote applauded the technical committee for supporting the implementation of President Tinubu’s Naira-for-Crude initiative.
He noted that the naira-for-crude swap deal has positively impacted the Nigerian economy, leading to reduced petroleum product prices, eased pressure on the dollar, and ensured stability of the local currency.
However, he mentioned that the refinery has increasingly relied on imports from the United States due to a shortage of domestic crude oil.
Dangote stressed the importance of bold investment in strategic sectors as a key to industrialization and assured the delegation of the refinery’s commitment to national development.
The refinery’s world-class, self-sufficient marine facility capable of accommodating the largest vessels globally is a testament to this commitment.
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