Alhaji Aliko Dangote, Nigerian businessman and billionaire has said that the products from the newly commissioned Dangote Refinery will be in the market by the end of July to the beginning of August, and that 40% of their product will be available for export.
In a speech he gave at the commissioning of the Dangote Refinery, which was held on Monday at Ibeju-Lekki, while speaking to President Buhari, Dangote said, “Our first product will be in the market before the end of July, beginning of August this year.” He also said, “Once our plant is fully commissioned and it is on stream, we expect that at least 40% of the capacity will be available for export, and this will resolve a significant foreign exchange earning into the country.” In order to achieve this, he said that the plants will be working at the highest capacity in order to make exports available.
Addressing the audience, the industrialist said, “The Dangote Petroleum Refinery we are here to commission this morning, is in fulfilment of our long-held dream and the product of Dangote Groups Corporate Division driven by our mission to produce what we consume and promote self-sufficiency in the basic needs of our people while competing globally in areas of our comparative and competitive advantage.
“The facility we are commissioning today is aimed to reposition Nigeria as a key player in the downstream petroleum sector. We have built a refinery with a capacity of 650,000 barrels per day of crude oil plus 900,000 metric tons of polypropylene in a single train, which is the largest built ever.”
He stated that the refinery was going to produce several petroleum products “that will enable us to meet not only our country’s demand but also to become a key player in the African and the global market”.
“The refinery will also make available to our industries vital raw materials for a wide range of manufactures in the plastics, pharmaceuticals, food, beverages, packaging, construction, and many other industries,” as he also stated that the running of the refinery will produce “massive job opportunities.”
The businessman then stated that Dangote Group was committed to operating the plant with the best practices, looking out for the good of the environment. “We have adopted some stringent environmental health and safety policies to ensure that the refinery operates in a safe and sustainable manner,” he said.
Dangote then thanked the President, Muhammadu Buhari, the President-Elect, Bola Ahmed Tinubu, Nigerian National Petroleum Corporation Limited (NNPCL), the governor of the Central Bank of Nigeria Godwin Emefiele, other notable dignitaries, and Nigerians for their constant support