Nigeria: My Refinery Can Save Nigeria $10bn in Fx, Generate Another $10bn in Exports – Dangote
Written by Olarotimi Oshin on May 8, 2023
Africa’s richest man and owner of the Dangote Refinery, Mr. Aliko Dangote, has said with the planned commencement of the refinery located in Lagos, Nigeria could save up to ten billion dollars in foreign exchange and generate another ten billion dollars in exports when the facility begins operation.
It is recalled that the six hundred and fifty thousand barrels per day Dangote Refinery is set for inauguration on May 22, by President Muhammadu Buhari.
Speaking in an interview with a special edition of London-based The Economists Magazine, titled ‘The World Ahead 2023, reported by RoyalFM News, Dangote stated that Nigeria’s economy as presently constituted has largely been built around the extraction and exportation of its natural wealth.
He noted that the soon-to-be commissioned six hundred and fifty thousand barrels per day refinery in Lagos, would enable Nigeria achieve self-sufficiency in refined petroleum products, as well as export to other African markets.