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.

The facility will produce 3 billion standard cubic feet of gas, 65 million liters of premium motor spirits (petrol), 15 million liters of diesel, and 4 million metric tons of jet fuel each day, or approximately 8 million tons of petroleum products annually.

The total cost of the refinery is estimated at $19 billion. The project stretched our richest man, Alhaji Aliko Dangote, to almost his breaking point. From scarcity of dollars to imports of items required for the construction of the refinery to battling with COVID, which delayed the project by at least two years.

The dream of having refinery has been long in coming, and it actually started in 2007, during Chief Olusegun Obasanjo's regime. This was the time when Aliko Dangote led a consortium that bought two old Nigerian refineries from Obasanjo.

Obasanjo's plan was to get rid of fuel subsidies and then allow the private sector to manage our inefficient refineries. But late Yaradua came and reversed the decision, and because of that, we are still paying hugely for subsidy.

If we had let go of subsidies in 2007 and then allowed Dangote to manage our refineries since 2007, Nigeria would have been richer today, and the dollar would not have been more than 300 to the dollar.

The Dangote Refinery is a game changer. Perhaps nothing in the last decade will have as much impact on our economy as this project. The first immediate impact will be that the Naira will have less negative pressure because fuel imports are the most significant drain on our foreign reserved.

Aliko Dangote deserves our eternal gratitude and respect for what he is doing.

He is the second-highest employer of labor in Nigeria today after the government, when the refinery starts working at the full capacity, more people will be employed by him and it is projected that the employees under his payroll will reach 100,000 at that time.

I sincerely hope no neo-colonialism agenda would sabotage this project

Which country and whose interests would be most jeopardized by the start of this project

I was amongst those that were against Obj selling the refineries to Dangote but with the benefit of hindsight, i now know that that was a good decision.
By now those refineries would have been working and we would have been refining our own oil.

Sometimes not everything that looks good is actually good.

Immanuel3:
I sincerely hope no neo-colonialism agenda would sabotage this project

White men are not responsible for the underdevelopment in Nigeria.

Modern slavery

Slave chief - dangote
Senior slave masters - Indians and Lebanese
Direct slaves - black staffs
Indirect slaves - the entire Nigerians
Slaves coordinators- Nigerian government

This is the organizational structure

Anyway anything to make naira stronger is welcomed at this point

Zionmdde:
Modern slavery

Slave chief - dangote
Senior slave masters - Indians and Lebanese
Direct slaves - black staffs
Indirect slaves - the entire Nigerians
Slaves coordinators- Nigerian government

This is the organizational structure

Anyway anything to make naira stronger is welcomed at this point

That's just it

As long as naira is stronger, Nigerians will have some relief

Cost of goods will reduced and salary earners will be able to make good use of their salaries

MasterJayJay:
White men are not responsible for the underdevelopment in Nigeria.

I beg to differ

yesloaded:


That's just it

As long as naira is stronger, Nigerians will have some relief

Cost of goods will reduced and salary earners will be able to make good use of their salaries

Yeah that's why we are anticipating the start up.