Dangote’s $19bn refinery set for presidential inauguration

The Dangote Refinery will be inaugurated by President Muhammadu Buhari on May 22, 2023, the special assistant to the president on digital communications, Bashir Ahmad, announced this in a tweet on Sunday.

“Efforts by the Federal Government to make Nigeria self-sufficient in local refining of crude oil to save the scarce foreign exchange used in the importation of petroleum products have received a boost as the 650,000 barrels per day Dangote Refinery, the world’s largest single-train refinery, is set for inauguration on May 22nd, 2023, by President Muhammadu Buhari,” the tweet reads.

The Dangote Refinery is Africa’s biggest oil refinery and the world’s biggest single-train facility with 650,000 barrels per day (BPD).

An integrated refinery project located in the Lekki free trade zone area of Lagos State is going to be a big relief to both the federal government which is spending almost N6 trillion on fuel imports this year and Nigerians

The project cost an estimated $19 billion to build.

The integrated refinery and petrochemical project is expected to generate 9,500 direct and 25,000 indirect jobs.

Its output is expected to be more than enough to meet Nigeria’s fuel demands and turn Africa’s largest crude producer into an exporter of refined crude.

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