The federal government’s Technical Committee on the One-Stop Shop (OSS) for the Naira-for-Crude initiative has lauded the $20 billion Dangote Petroleum Refinery and Petrochemicals, describing it as a symbol of industrial revolution in Nigeria.
The committee stated that the Aliko Dangote-owned world’s largest single train refinery was driving Nigeria’s economic emancipation. It described the facility as a breath of fresh air that was impacting virtually every sector of the economy.
A statement issued on Thursday by Dangote Group said Coordinator of OSS Technical Committee, Mrs. Maureen Ogbonna, gave the commendation on Tuesday, when she led the delegation on a tour of the facility.
Ogbonna stated, “This refinery touches all our lives. There’s scarcely any sector unaffected. From pharmaceuticals to construction, food to plastics, this project is transformational.
“God has used the President of the Dangote Group to liberate Nigeria. I see this as the beginning of an industrial revolution.”
Stating that in line with President Bola Tinubu’s vision of achieving full domestic sufficiency in petroleum products and positioning Nigeria as a major global exporter, Ogbonna said the committee was committed to eliminating regulatory, operational and logistical barriers that hindered the smooth supply and sale of domestic crude oil and refined products in naira.
Reflecting on the scale and sophistication of the facility, Ogbonna, who had visited the facility during construction and more recently alongside the leadership of Nigerian Ports Authority (NPA), expressed delight at its execution.
She said, “It is truly mind blowing that one man could envision and execute such a project. As we toured the refinery, we thought we had seen everything until we reached the laboratory. That lab alone is an institution. I don’t know of any institution in Nigeria or even globally that boasts such a laboratory for petrochemicals.”
Ogbonna urged Dangote to remain focused and undeterred by detractors, emphasising that the project is a global achievement, not a personal enterprise.
She stated, “We feel truly honoured to have been warmly received by the President of the Dangote Group and his team. My advice to him is: do not be discouraged by critics. He was never self-centred. Despite the obstacles, he was driven by a vision for Nigeria’s future, reaching far beyond Africa.”
In response, founder of the refinery and Africa’s richest man, Aliko Dangote, applauded the technical committee for its role in supporting the implementation of Tinubu’s laudable Naira-for-Crude initiative.
He commended the positive impact of the naira-for-crude swap deal on the Nigerian economy, saying it has led to a reduction in petroleum product prices, eased pressure on the dollar, and ensured the stability of the local currency, among others.
However, Dangote complained that due to shortage of domestic crude oil, the refinery had increasingly relied on imports from the United States to meet its needs in recent months.
Dangote stressed the importance of bold investment in strategic sectors as key to industrialisation, revealing that building the refinery requires extensive infrastructure development, including world-class, self-sufficient marine facilities capable of accommodating the largest vessels globally.
He assured the delegation of the refinery’s commitment to national development.
Designed to process a wide range of crude types, including African and Middle Eastern grades, as well as US Light Tight Oil, the refinery has the capacity to meet all of Nigeria’s domestic demand for petrol, diesel, kerosene, and aviation jet fuel, with a surplus available for export.
Peter Uzoho
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