President Bola Ahmed Tinubu has praised the founder of the Dangote Group, AlhajiAliko Dangote, for his unwavering commitment to Nigeria and for making bold investments that have become a cornerstone in the country’s economic transformation.
Tinubu also described the 650,000 barrels per day Dangote Petroleum Refinery, reputed as the world’s largest single-train oil refinery as “a defining project of our time.”
The president stated this last Thursday, during a high-profile tour of the DangotePetroleum Refinery and Petrochemicals complex, and the inauguration of the Deep Sea Port Access Road, at the Lekki Free Trade Zone, Lagos State.
In his keynote address at the event, the Nigerian leader described the refinery as “a remarkable achievement,” calling it “a phenomenal project of our time” and “a major point of reference for Nigeria’s industrial and economic growth.”
According to a statement issued on Monday by the Dangote Group, Tinubu was quoted to have said at the occasion that, “Having inspected the Dangote Refinery, which is a great point of reference, a great phenomenon of our time, and a massive investment, I want to thank Aliko Dangote.”
The president added, “I am also pleased that the Deep Sea Port project, which I initiated during my tenure as Governor of Lagos State, has become a resounding success. It has significantly reduced logistics costs by eliminating the need for trans-shipment.”
He also lauded the quality of infrastructure delivered under the federal government’s Tax Credit Scheme, specifically commending Dangote Industries Limited and its subcontractor, Hitech Construction Company Limited, for the delivery of the port access road.
In a moment of tribute, Tinubu described Dangote as the wisest mind in Nigeria’s economic landscape, citing his far-reaching investments and steadfast commitment to the country.
“I landed here with four wise men. I will say wise men,” Tinubu said. “Jim Ovia of reputable Zenith Bank, who has been acknowledged worldwide. Femi Otedola, my baby brother. Samad Rabiu of BUA. And I believe the wisest of them all, Alhaji AlikoDangote, who is so daring in thinking, doing, and believing in his country,” the president said.
In his remark, Dangote acknowledged the positive impact of Tinubu’s economic policies, crediting recent reforms for fostering a more conducive environment for industrial growth and long-term investment.
He also expressed appreciation for President Tinubu’s ‘Nigeria First Policy’, which aims to significantly reduce dependence on foreign goods and services by prioritisinglocal content in investment decisions, business operations, and consumer behaviour.
The billionaire businessman remarked that this policy aligns seamlessly with the Dangote Group’s corporate vision of producing what the nation consumes and fostering self-sufficiency to meet the basic needs of Nigerians.
“You have led from the front, delivering the dividends of democracy to the people. From your inaugural address in May 2023 – where you made the courageous decision to remove the costly fuel subsidy – you have directed a team of technocrats and reform-minded experts with clarity and purpose to execute these reforms. Your leadership has been both decisive and reassuring, and your actions have reignited hope for a prosperous Nigeria,” Dangote stated.
He also commended the administration’s significant improvements in national infrastructure through initiatives such as the Nigerian Road Infrastructure Development Fund and the Refurbishment Investment Tax Credit Scheme.
He highlighted that under these schemes, eight major roads – including the Lekki-Epecorridor – have been awarded within the same cluster at a cumulative cost of N900 billion.
According to Dangote, the petroleum refinery is one of several strategic initiatives by the Dangote Group in support of the Federal Government’s Renewed Hope Agenda, which seeks to reposition Nigeria as a regional manufacturing hub.
“Our objective is to produce domestically those goods that have historically been imported, despite our abundant natural resources. It is on record that our investment in cement manufacturing made Nigeria self-sufficient in that sector, ending cement importation and turning the country into a net exporter.
“We achieved the same in fertiliser production as Nigeria is now self-sufficient and exports the surplus, thereby generating valuable foreign exchange. We have also commenced exportation of refined petroleum products to several countries, including the United States and Saudi Arabia, among others,” he added.
Dangote noted that the refinery offers extensive benefits to the Nigerian economy and its people, emphatically declaring that the days of long fuel queues are over in Nigeria.
He emphasised that the Dangote Petroleum Refinery and Petrochemicals Complex stands as a symbol not only of visionary achievement but also of the immense potential realised when private enterprise aligns with purposeful government leadership.
“We remain steadfast in our commitment to contributing meaningfully to Nigeria’s economic transformation, supporting your administration’s efforts to build a self-reliant, globally competitive nation. We have remained Nigeria’s highest tax paying company. With continued collaboration and shared resolve, we are confident that the journey ahead will usher in even greater opportunities for our people and our country,” Dangotestated.
He also announced that the road leading to the state-of-the-art Dangote Petroleum Refinery & Petrochemicals would be named Bola Ahmed Tinubu Road, in honour of the Nigerian president for his unwavering support of the private sector and credited him as the visionary behind the Free Trade Zone during his tenure as Governor of Lagos State.
“The Dangote refinery complex is, in many ways, your brainchild,” Dangote told the President.
“Mr. President, let me just say one thing — the main road leading into our refinery is now to be known as Bola Ahmed Tinubu Road”, Dangote announced.
He also revealed that despite paying N450 billion in taxes last year, the Group was committed to spending N900 billion on road infrastructure across Nigeria.
According to Dangote, the Deep Sea Port Access Road was “one of eight major road projects totalling 500 kilometres, including two in Borno State that will eventually link Nigeria to both Chad and Cameroon.”
Dangote thanked the president for envisioning and implementing the Lekki Deep Sea Port project and assured him of the private sector’s support for expanding infrastructure nationwide
Peter Uzoho
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