Thursday, June 1, 2023 –Largest oil refinery plant in Africa valued at 419 billion has been commissioned in Nigeria.
Nigerian business mogul Aliko Dangote opened the largest oil refinery machine to revolutionise crude oil processing in the continent as reports from the firm’s communication team indicated that their first product will be hitting the market in July this year.
Being the Africa’s wealthiest man and who runs Dangote Group of Companies, he wants the machine to produce atleast 53 million liters of Diesel and 2 million liters of jet fuel all at enough export supply levels.
The company which is located on 2635 hectares in Dangote Industry Free Zone in Ibeju-Lagos, will have a processing capacity of 650,000 barrels of oil every day(bpd),
Moreover, it targets to employ over 100,000 experts and non-experts. The refinery is nestled alongside various other components envisioned in the masterplan.
“It is clear that this event marks a milestone for our economy and is a game changer for the downstream petroleum products market, not only in Nigeria, but on the entire African continent,” said former President Muhammadu Buhari who graced the commissioning.
Buhari, further said Nigeria’s economy has been stressed for many decades by the inefficiency of the economic infrastructure and over a decade of insurgency.
The refinery was inaugurated by the outgoing president Muhammadu Buhari on 22 May 2023 in Lagos, Nigeria, in an event attended by five African presidents, including President Gnassingbé Eyadéma of Togo, President Nana Akufo-Addo of Ghana, President Macky Sall of Senegal, President Mohamed Bazoum of the Republic of Niger, and President Mahamat Déby of Chad and other high-level officials.