The Dangote Petroleum Refinery’s operational framework is projected to generate an annual market value of $21 billion for Nigerian crude oil. This estimate was provided by Aliko Dangote, the chairman of Dangote Refinery, during a weekend visit from the Minister of State for Defence, Bello Matawalle.
Commitment to Economic Vision
During the visit, Dangote expressed gratitude for the minister’s support and reaffirmed his commitment to aligning with President Tinubu’s economic goals. He emphasized the refinery’s role in wealth creation and youth employment, crucial elements of the President’s vision for Nigeria’s economic improvement.
Meeting Domestic and Export Needs
Dangote highlighted the refinery’s capability to meet 100% of Nigeria’s refined product requirements while generating a surplus for export. “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,” he stated.
Government’s Support and Security Assurance
Minister Matawalle praised Dangote’s significant investments, emphasizing their positive impact on Nigeria’s economy through job creation and wealth generation. He reiterated the federal government’s commitment to protecting vital investments like the Dangote Refinery, ensuring they contribute effectively to the nation’s economic growth and employment.
President Tinubu’s Dedication to Security
Matawalle assured that President Bola Tinubu is dedicated to protecting citizens, infrastructure, and investments across Nigeria. He promised robust security measures for the refinery, highlighting its status as the largest in Africa and its importance in maintaining high production levels.
Commendation of Dangote’s Patriotism
Matawalle lauded Dangote’s patriotism and bold investment in Nigeria, acknowledging the significant contributions to economic growth and employment. He reaffirmed the government’s pledge to ensure maximum security around the refinery facilities, maintaining an environment conducive to ongoing and future investments.
The Dangote Refinery is poised to play a pivotal role in Nigeria’s economic landscape, not only by meeting domestic refined product needs but also by generating substantial revenue from crude oil exports. The federal government’s commitment to safeguarding such investments underlines the strategic importance of the refinery in Nigeria’s economic development.