By Maxwell Okamafo Addo.
Aliko Dangote has opened Africa’s biggest oil refinery. The impact on Africa is Huge. The newly opened Dangote Oil Refinery in Lagos, Nigeria can produce 650,000 barrels daily during optimal operations. That is very huge. Ghana is among the countries that will benefit from the project. Currently, it will go a long way to solve the Refinery problems that Ghana has faced over the years.
And that is good News. Currently, Ghana produces about 170,000 barrels of crude oil, and imports all of its petroleum products.
It would also make goods manufactured from petroleum more affordable in the local market, as buyers won’t have to import these goods from Europe and other markets.”
Aliko Dangote, last week launched an oil refinery plant in Lekki, southeast of Lagos City, Nigeria.
The commissioning was presided over by President Muhammadu Buhari and other visiting heads of State including Ghanaian President, H.E Nana Addo Danquah Akuffo Addo. And Aliko’s Close friend and brother H.E Baba Kamara.
The new investment by Dangote becomes Africa’s biggest oil refinery and the world’s biggest single-train facility. As Nigerians swear in the President-Elect today. Significantly, we share gratitude to the president-elect [Bola Tinubu], who also set the pace by creating the Lekki Free Trade Zone [during his tenure as Governor of Lagos between 1999 and 2007],” said Dangote in a statement.
The Refinery has been designed to process crude oil from Africa, the Middle East, and America. The fuel that the facility will process is petrol, diesel, jet fuel, and polypropylene.
The refinery could lead to the creation of up to 100,000 direct and indirect jobs, and provide a $21 billion market for Nigerian crude oil each year. At the same time, we understand it can support the establishment of some 26,700 filling stations, government estimates show. The Dangote oil plant sits on 2,635 hectares of land.
Estimates by NS Energy show that the businessman, who owns the multinational firm Dangote Group, spent $19 billion on his latest investment.
the new refinery will have a “major impact in Nigeria and Africa.
The plant’s impact will transcend boundaries and benefit more countries, especially those in the West African bloc with Ghana leading.
The refinery will guarantee an uninterrupted supply of fuel to the Nigerian market, even in situations where the foreign market gets disrupted by unforeseen or unavoidable factors,
Dangote, according to Forbes, had a net worth of $1.35 billion as of February 2023.
Congratulations Sir!