₦airaland Forum

- Dangote’s refinery will have the capacity to refine 650 million barrels of crude
oil a day
– Dangote said Nigeria would be transformed from a fuel importing country to an
exporting one

The Dangote Group, which is currently building what it calls the world’s largest
refinery, has given an assurance that when the plant comes on stream, it will put
an end to the recurring fuel crises in the country.

The executive director, stakeholder management and corporate communications,
Dangote Group, Mr Mansur Ahmed, said by the time the refinery was ready,
Nigeria would be transformed from a fuel importing country to an exporting one.
“That plant itself is the largest single refinery plant anywhere in the world. In
addition to the refinery, we are also going to produce some petrochemical
products from the same complex. These are polyethylene and polypropylene,”
Ahmed was quoted by Punch.

He said the petrochemical plant, which covers 250,000 hectares of land and is
located in the Lekki Free Trade Zone in Lagos, would gulp $14bn, with capacity
to refine 650 million barrels of crude oil a day. The executive director urged the government to deregulate the downstream sector so that investors could play in an open market.

“One would prefer if it was deregulated so that we know that we are playing in
the open market. The key issue is that if I buy crude, whether from Nigeria or
anywhere else, I buy at an international price. If I produce a product and want
to sell, I should sell that product at an international price.

“So, I will not be affected by the decision of local pricing; it is on that concept
that we went into refining. We expect that we will buy our input, especially
crude, for international market price, and that when we produce products, we
will sell those products at international prices.

“The refining industry is a global industry; if you use those international
benchmarks, you shouldn’t really worry about the price. It is about time Nigeria
completely deregulated the downstream industry. The kind of reason that has
compelled the government to fix petroleum product prices has not been tenable,”
Ahmed stated.

jonathan made dangote

We would like to see the refinery and behold it then we will believe. We are tired of talks. If we could convert all the talks we have had for the past few months into money, Nigeria would become the richest country in the world. But as u van c, we cant.

TANTUMERGO007:
jonathan made dangote

Jonathan was in the creek during the making of Aliko Dangote