The president of Dangote Group of Companies, Alhaji Aliko Dangote, has assured that the first goal of his group after commissioning on Monday is to ramp up production of the various products to ensure that within this year, Dangote refinery is able to satisfy Nigeria’s demand for high-quality products fully.
He added that this will enable the country to eliminate the tragedy of import dependency and stop, once and for all, the dumping in the Nigerian market of toxic sub-standard petroleum products.
He made this known on Monday in Lagos at the formal inauguration of the 650,000 barrels-per-day (BPD) Dangote Petroleum Refinery and Petrochemical complex in Ibeju-Lekki.
He said the first product will be in the market before the end of July this year.
“Beyond this, we intend to ensure that our plants are run at the highest capacity utilization and highest efficiency to enable us to export competitively to other markets, especially in the ECOWAS and the wider Africa Region in which 53 Countries out of 55 are dependent on imports to meet their petroleum products demand.
“This is a clear opportunity for Nigeria given the African Union’s commitment to the creation of an African Common Market through the recently established African Continental Free Trade Area (AFCFTA) regime,” he stated.
According to Dangote, beyond the constant availability of high-quality fuels for Transportation Sector, the Refinery will also make available to Industries vital raw materials for a wide range of manufacturers in the plastics, pharmaceutical, food and beverages, packaging, construction, and many other industries.
The Refinery operation and ancillary business will generate massive job opportunities, the downstream value chain will equally provide far more absorptive capacity for labour in hundreds of thousands, Dangote stated.
“Third, once our plant is fully onstream, we expect that at least 40 per cent of the capacity will be available for export, resulting in significant Foreign Exchange inflows into the country.
“Overall, we are committed to operating our Plant in line with international best practices. Recognizing the importance of protecting the environment, we have adopted stringent environmental, health and safety policies to ensure that the Refinery operates in a safe and sustainable manner,” he further assured.
READ ALSO FROM NIGERIAN TRIBUNE
He said the journey to this event was long and arduous; and could not have been possible without the support and collaboration of many parties and individuals.
He commended President Mohammadu Buhari saying that his sustained support and encouragement over the past eight years have been, a source of great motivation and strength.
“At times when I felt like giving up, your confidence and quiet words of assurance have made the difference. Mr President, I thank you from the bottom of my heart,” he emphasized.
Dangote also commended other stakeholders and financier’s especially Nigerian banks under the supervision of the Central Bank of Nigeria.
According to him, as in most mega projects, financing has been a source of many significant challenges. “Governor Emefiele’s belief in and commitment to this project has been awesome. “Without Governor Emiefele’s courageaous support and backing, this project would not have stood a chance of successful completion. “Govenor Emiefele moved mountains to ensure the success of this project. Indeed, apart from the top Management of the Refinery itself, no one in this gathering has visited this site more times than Governor Emefiele. We are indeed very grateful,” he appreciated.
