Dangote Refinery: First product will be in the market end of July – Aliko Dangote
May 22, 2023
…Accomplishment will enable Nigeria eliminate the tragedy of import dependency
The President of Dangote Industries Limited, Aliko Dangote says the first product of the Dangote Petroleum Refinery and Petrochemicals will be in the market before the end of July.
Dangote disclosed this in his welcome address at the inauguration of the 650,000 bpd refinery in Lagos State on Monday.
Dangote noted that the project was the realisation of a “clear opportunity” for Nigeria.
Dangote emphasised the refinery’s role in fulfilling the group’s corporate vision of promoting self-sufficiency and global competitiveness.
”We have built a Refinery with a capacity to process 650,000 barrels per day (plus 900,000 tonnes of polypropylene) in a single train – which is the largest in the world. We have selected the best plants and equipment and the latest technologies from across the world.
“Beyond today’s ceremony, our first goal is to ramp up production of the various products to ensure that within this year, we’re able to fully satisfy our nation’s demand for higher quality products,” he said.
“We intend to ensure that our plants are run at the highest capacity of utilisation and the highest efficiency to enable us to export competitively to other markets, especially in the ECOWAS and wider regions in which 53 countries out of 55 are dependent on imports to meet their petroleum products demand,” he said.
”Our products slate is designed to meet the highest quality standards and high-value products including Premium Motor Spirit (PMS), Automotive Gas Oil (Diesel), Aviation Turbine Kerosine (ATK); all of Euro V Standards that will enable us not only meet our Country’s demand but also to become a key player in the African and global market.
”Our coastal location and offshore loading and offloading (SPM) facilities with a capacity to receive all our crude oil supplies and evacuate up to 75% of our liquid products give us direct access to the rest of Africa and the global market for exports. In addition, 80 percent of our production can be discharged through trucks nationwide.”
He disclosed that the huge investment of over $18.5billion in this industry was prompted by the company’s desire to support and contribute its quota to the Federal Government’s sustained effort to transform the economy and reposition Nigeria as the leading nation in Africa, and a respected member among emerging economies in the world.
According to him, apart from ensuring a consistent supply of high-quality fuels for the transportation sector, the refinery will provide essential raw materials to a wide range of manufacturing sectors, including plastics, pharmaceuticals, food and beverages, packaging, construction, and more.
He further stated that the refinery’s operation and related businesses would generate a substantial number of job opportunities, while the downstream supply and distribution of its products would significantly contribute to the absorption of labor, potentially benefiting hundreds of thousands of individuals.
”Once our plant is fully on stream, we expect that at least 40% of the capacity will be available for export and this will result in significant Foreign Exchange inflows into the country.
Overall, we are committed to operating our Plant in line with international best practice requirements, recognizing the importance of protecting the environment, and putting in place stringent environmental, health and safety policies to ensure that the Refinery operates in a safe and sustainable manner,” he said.
He lauded the Central Bank of Nigeria’s governor, Godwin Emefiele’s backing of the project, without which it would not have stood a chance of successful completion. “He moved mountains to ensure the success of the project”.