President Buhari inaugurates Dangote Lagos refinery, calls it game changer for Nigeria’s economy
Written by Samson Ojeniran on May 22, 2023
President Muhammadu Buhari has inaugurated the Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, which is expected to enable Nigeria to achieve self-sufficiency in refined products and even have surplus for export.
The Dangote refinery which has the capacity to process 650,000 barrels of crude oil per day, is the largest single-train refinery in the world.
Ghanaian President, Nana Akufo-Addo and his Senegalese counterpart, Macky Sall have commended Nigeria for the historic milestone.
Both presidents described the feat as a significant milestone for Nigeria’s economy and a game changer for the downstream petroleum products market in the entire African region.
They stressed the need for African countries to come together, integrate their economies, eliminate trade barriers and rally their populations to achieve Agenda 2063 for the continent’s prosperity.
The refinery which has the capability to meet 100 per cent of Nigeria’s domestic demand for all refined products is expected to export at least 40% of the capacity which would result in significant foreign exchange inflow into the country.
