Mr. Farouk Ahmed, chief executive officer of the NMDPRA, made the announcement in a statement signed by Mr. Anthony Chiejina, group chief branding and communication officer of Dangote Industry Ltd., on Thursday in Lagos.Infomation Guide Nigeria
Ahmed stated this when Dangote refinery personnel presented the facility’s work plan for 2022/2023 to the regulatory agency in Abuja.
The Dangote refinery, with its installed capacity of 650,000 barrels per day, is expected to treble the output of Nigeria’s ageing refining infrastructure, according to Ahmed.
According to him, the plant, which is also expected to cover 100 percent of Nigeria’s demand for all refined products, will shortly begin pumping out fuel.
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He stated that the successful completion of Africa’s largest petroleum refinery and the world’s largest single-train facility was anticipated to have a huge influence on Nigeria’s foreign exchange through import substitution and enormous earnings savings.
According to him, once the refinery begins operations, the strain on the nation’s currency would lessen, and a substantial influx of foreign currency is anticipated from the refinery’s sales.
“Upon completion of the refinery, it is estimated that Nigeria will import zero petroleum oil products – down from approximately $50 billion current oil product imports per year.
“Today, representatives of the Dangote Refinery and Petrochemicals presented their 2022/2023 work plan to the authority which showed that the refinery project is estimated to be at 97 per cent completion.
“The refinery is a 650,000 barrels per day integrated refinery project under construction in the Lekki Free Trade Zone, Lagos.Jamb Result
“It is expected to be Africa’s biggest oil refinery and the world’s biggest single-train facility,” he said.
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