Amidst accolades from prominent figures, including President Muhammadu Buhari and the presidents of five other African nations, Alhaji Aliko Dangote, the founder and President of Dangote Group, expressed his unwavering optimism regarding the newly commissioned 650,000 barrels per day (bpd) refinery.
He confidently stated that the refinery would provide employment opportunities for over 100,000 Nigerian youths and contribute more than $21 billion in Revenue.
Dangote emphasized that this development would significantly reduce the country’s dependence on foreign exchange for fuel imports, leading to substantial savings. Furthermore, he revealed that the first products from the refinery would be available in the market by the end of July this year. Notably, the refinery currently boasts a workforce of over 33,000 dedicated employees.
During the inauguration of the Refinery in Ibeju-Lekki, Lagos, by President Buhari, Dangote expressed that the refinery’s products “will be in the market before the end of July.”
He said: “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.”
“Beyond this, we intend to ensure that our plants are run at the highest capacity of utilization and the highest efficiency to enable us to export competitively to other markets, especially in the Economic Community of West African States, ECOWAS, and wider regions in which 53 countries of 55 are dependent on imports to meet their petroleum products’ demand,” he added.
He said: “I urge and encourage our other great entrepreneurs to emulate this iconic Nigerian industrialist and join the government in accelerating our growth in order to realize our country’s globally recognized economic potential.
“When I travel around Africa and meet and engage my brother Heads of State (and I am delighted some of the Excellencies are here), I often sense a quiet expectation that our country is blessed with resources and human capacity to lead Africa’s rise to economic prosperity and the attainment of Agenda 2063 – ‘The Africa We All Want.’
“But to achieve the goals of Agenda 2063, Africa must come together; we must integrate our economies, eliminate barriers to trade and energize our youthful population to scale up our productive capacity.
“We must create necessary conditions for our private sector to grow and partner with the public sector to accelerate economic growth across the continent. We must not allow outside powers to use some of our leaders to destabilize our economic and political trajectory.”