Nigerian Governors Forum Laud Dangote On Petrochemical Refinery Project

Oil & Gas
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Sunday, December 22, 2019 / 02:30PM / Ottoabasi Abasiekong for Proshare WebTV / Header Image Credit: WebTV

 

As the Largest single line petrochemical refinery complex in Sub-Saharan Africa, built by Alhaji Aliko Dangote, begins to take shape, the Nigerian Governors Forum has lauded the private project.

 

The Chairman of the NGF, Governor Kayode Fayemi, made the commendation after a tour of the complex located in the Lekki Free Trade Zone in Lagos state.

 

Governor Fayemi who was accompanied by some of his colleagues, described Alhaji Aliko Dangote as a visionary businessman who has embarked on a massive project that is naturally the preserve of governments.

 

He believed the Dangote Petrochemical Refinery Complex would create value for the Nigerian economy and increase the pace of national industrialization.

 

The Ekiti State Governor said with enabling regulations, the refinery complex will provide economic opportunities for Nigerians.

 

As part of the visit to the refinery, Governor Fayemi on behalf of the NGF, presented a letter of recognition to Alhaji Dangote acknowledging his immense support to the human capital development across the states of the federation, covering healthcare,  education, infrastructure, disaster relief and management.

 

In response, the President of Dangote Industries reassured the NGF that Dangote Foundation would continue to invest in Nigeria's human capital development.

 

On his part, the Governor of Lagos State Mr. Babajide Sanwoolu was delighted that the Petrochemical Refinery complex was coming to fruition and committed to providing the enabling infrastructure to support the project, like access roads.

 

Mr. Sanwoolu was optimistic that the Dangote Petrochemical Refinery Complex would transform the socio-economic landscape of Lagos state.

 

In a brief presentation Mr. D.V.G Edwin a Group Executive Director, Dangote Industries Limited informed the visiting Governors that the business strategy  of the Refinery Complex is to achieve the following;

 

  • Produce Euro V products
  • Produce Crude Flexibility
  • Process a large variety of crudes including many of the African crudes, some of the Middle Eastern crudes and the US light oil.
  • Design for feedstock in line with the current pricing trend
  • Maximize Gasoline, which is in high demand-53% of the production capacity compared to 22% of the existing refineries in Nigeria.
  • Maximize value addition-Extract maximum value from every barrel of crude
  • Minimum low-value Fuel Oil
  • State-of-the-art technology

 

The complex will upon completion have the following features;

  • The largest single-train petroleum refinery in the world refining 650,000 barrels of crude oil per day
  • The largest sun-sea marine pipeline infrastructure in any country in the world.
  • A Petrochemical plant that produces 750,000 metric tonnes per year of polypropylene.
  • A Fertilizer plant that produces 2.8m metric tonnes per annum of Urea of Ammonia.
  • Gas from the gas pipeline project can supply fuel to central power plants to generate electricity for households.
  • A 450mw Independent Power Plant to support the operations of the complex
  • A  Private Jetty

 

The  project which will cost $12bn, will, when completed, save Nigeria over $7bn of forex per annum.

 

Other Governors in attendance on the tour of the refinery include; Governor Nasir El-Rufai (Kaduna), Governor Abdulrahman Abdulrazaq (Kwara), Governor Babagana Zulum(Borno), Governor Bala Mohammed (Bauchi), Governor Okezie Ikpeazu (Abia), Governor Dapo Abiodun (Ogun), Governor Atiku Bagudu (Kebbi), Governor Simon Lalong (Plateau), Professor Ivara Esu, Deputy Governor (Cross River) and Mrs. Ceceilia Ezeilo, Deputy Governor (Enugu).

 

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