As efforts are being intensified for the imminent completion of the multi-billion dollars 650,000bpd (barrels per day) Dangote Refinery in Lagos, the project has been described as an inspiration to private sector operators in the country.
Excited at the share humongous size of the refinery, chief executive officer of Oando Plc, Mr Wale Tinubu, a leading oil and gas downstream sector operator who was on a guided tour of the project alongside members of the company’s senior management said “With what I have seen, this Dangote Refinery is for Nigeria and Africa.”
He stated that the president of Dangote Group, Aliko Dangote deserves all the commendations in the world for the courage to build the world’s largest single train refinery in one of the most challenging business environments in the world even as the risk premium being at the highest.
“He harboured no doubt within him that the refinery, upon completion, will meet the yearnings of Nigerians for product availability and ultimately de-risk the petroleum sector,” he said.
The Oando CEO, said of the project, “It is more than just a refinery, it is a revolution, it is about what is possible in Africa and by an African, we are talking about a world class project being done on a scale that the world is not used to.”
In his remark, Dangote stated that the refinery is not only a project for Dangote, but also a project for Nigeria.
“Nigeria should be a leader in building facilities like these as a business initiative. This project will definitely put Nigeria on the map and will surely change the fortunes of Africa,” Dangote assured.
Aliko Dangote explained that apart from building world-class projects, Dangote is also dedicated to building capacity by resuscitating failing industries such as it did in the cement industry, adding that this has set the precedence in Nigeria.
The Dangote Refinery upon completion, will refine 650,000 barrels of crude per day, making it the single largest train in the world. This in turn will enable the nation to generate and save foreign exchange, which has been blamed for the country’s current economic woes. The project will also provide 90 megawatts of electricity through its multi-million-dollar sub-sea pipeline project.