May 22, 2023, will be memorable for the oil sector and beyond. Several stakeholders are excited about the approaching May 22, 2023, unveiling of the Dangote Oil Refinery and Petrochemicals. This event is expected to influence both domestically and internationally, affecting everyone from government agencies and professionals in the oil business to regular people who use petroleum goods. Even economists and the international oil market are paying attention.
The PUNCH reported on Monday that Aliko Dangote, the richest man in Africa, is planning to launch the Dangote Refinery on May 22.
The president, Major General Muhammadu Buhari (ret. ), will conduct the inauguration, according to a tweet from a presidential adviser named Bashir Ahmad.
“The 650,000 barrels per day have given the Federal Government’s efforts to make Nigeria self-sufficient in local crude oil refining to save the limited foreign currency needed in importing petroleum products a boost. Ahmad said the largest single-train refinery in the world, the Dangote Refinery, will be officially opened by President Muhammadu Buhari on May 22, 2023.
Construction is underway on a 650,000 bpd integrated refinery in the Lekki Free Zone of Lagos, with a projected cost of over $19 billion. It is anticipated to be the largest single-train facility in the world and the largest oil refinery in Africa.
According to the company’s website, the refinery will produce enough of each refined product to cover all of Nigeria’s needs while also having a surplus for export.