Nigeria To Generate Annual Crude Returns Of $21bn From Dangote Refinery

The Dangote Petroleum Refinery operations template has been estimated to generate an annual market value of $21 billion for Nigerian crude oil.

This is the calculation by the chairman of Dangote Refinery, Aliko Dangote, when he hosted minister of State for Defence, Bello Matawalle at the weekend.

Expressing gratitude for the minister’s visit, Dangote reaffirmed his commitment to supporting Nigeria’s economic vision. 

He aligned his efforts with President Tinubu’s goals of improving lives through wealth creation and employment for the youth.

“The refinery will meet 100 per cent of Nigeria’s refined product requirements and have a surplus for export, creating a market for $21 billion per annum of Nigerian crude,” Dangote stated.

During the visit on Saturday, Matawalle commended Dangote’s bold investments and highlighted their positive impact on the Nigerian economy through wealth creation and job generation.

The minister reiterated the federal government’s commitment to safeguarding such pivotal investments, ensuring they contribute significantly to economic growth and employment opportunities for the nation.

Matawalle emphasised President Bola Tinubu’s dedication to protecting citizens, infrastructure, and investments across Nigeria.

Addressing investors, Matawalle assured Dangote and others that their investments would be securely protected within the country.

Describing the multi-billion-dollar refinery as the largest in Africa, he underscored the government’s commitment to providing security to maintain high production levels.

Matawalle commended Dangote’s patriotism and courageous investment in Nigeria, stressing the significant contributions to economic growth and employment.

He reiterated the government’s pledge to maintain maximum security around the refinery facilities.