Nigerians To Start Buying Fuel Refined From Dangote Refinery This August

Date:

May 23,2023.

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Dangote newly inaugurated Refinery will Begin it’s first Production and services to the public by August as said by Aliko Dangote on Monday.

Dangote made the disclosure in his remarks at the official commissioning of the 650,000 barrels-per-day Dangote Refinery at Ibeju-Lekki in Lagos State, on Monday.

He said the facility has a capacity to process 650,000 barrels per day of crude oil (plus 900,000 tonnes of polypropylene) in a single train, making it the largest in the world.

“We have selected the best plants and equipment and the latest technologies from across the world.

“Also, the products slate is designed to meet the highest quality standards of high-value products including Premium Motor Spirit (PMS), Automotive Gas Oil (Diesel), Aviation Turbine Kerosine (ATK); all of Euro V Standards that will enable us not only meet our country’s demand but also to become a key player in the African and global market.

“This commissioning ceremony is just the beginning of a great journey, a milestone in a new and exciting trajectory for the Downstream sector of Nigeria’s Oil and Gas Industry.

“It is our firm commitment that we will replicate in this sector, what we have achieved in the cement and fertilizer markets, where Nigeria transited from being the largest importer of these products to a net exporter.

“Beyond today’s ceremony, our first goal is to ramp up production of the various products to ensure that within this year, we are able to fully satisfy our nation’s demand for high quality products to enable us eliminate the tragedy of import dependency and stop, once and for all, the dumping in our market of toxic sub-standard petroleum products.

“Your Excellencies, Distinquished Guests, our first product will be in the market before the end of July this year”, Dangote said.

He added that the group intended to ensure that the plants are run at the highest capacity utilisation and highest efficiency to enable us to export competitively to other markets, especially in the ECOWAS and the wider Africa region in which 53 countries out of 55 are dependent on imports to meet their petroleum products demand.

Speaking on the refinery’s benefits, Dangote said, beyond the constant availability of high-quality fuels for the Transportation Sector, the Refinery will also make available to local industries, vital raw materials for a wide range of manufacturers in the plastics, pharmaceutical, food and beverages, packaging, construction, and many other inductries.

He added that while the Refinery operation and ancillary businesses will generate massive job opportunities, the downstream value chain will equally provide far more absorptive capacity for labour in hundreds of thousands.

Dangote also noted that once the plant is fully onstream, at least 40 percent of the capacity will be available for export.

“Overall, we are committed to operating our Plant in line with international best practice. Recognizing the importance of protecting the environment, we have adopted stringent environmental, health and safety policies to ensure that the Refinery operates in a safe and sustainable manner”, he added.(www.naija247news.com)

Peter Okafor
Peter Okaforhttp://Naija247news.com
Peter Okafor Financial Journalist | Editor | Contributor Overview: Peter Okafor is a seasoned Financial Journalist, astute Editor, and valued Contributor at Naija247news Media Group. With an unwavering passion for dissecting complex financial landscapes, Peter has become a trusted name in delivering incisive and insightful coverage of economic events, market trends, and corporate dynamics. Professional Journey Peter's journey in financial journalism has been marked by a commitment to excellence. Joining the ranks of Naija247news, he has consistently demonstrated a keen understanding of the intricate interplay between finance and the global socio-economic fabric. Expertise: Specializing in financial markets, economic analyses, and business developments, Peter Okafor has honed his expertise over the years. His ability to unravel intricate financial narratives and present them in a comprehensible manner sets him apart in the world of financial journalism. Contributions As an Editor and Contributor, Peter has played a pivotal role in shaping the narrative of Naija247news. His contributions extend to thought-provoking articles, in-depth market analyses, and coverage of key events that impact the financial landscape. Educational Background: Peter holds a degree in Journalism, complemented by specialized courses in Finance and Business Reporting. His educational foundation has provided him with the tools to navigate the intricate world of financial journalism. Innovation and Adaptability: In an era of evolving media landscapes, Peter Okafor exemplifies innovation and adaptability. Leveraging digital platforms and emerging technologies, he ensures that financial insights reach a diverse audience, fostering financial literacy and awareness. Awards and Recognition: Peter's commitment to journalistic excellence has not gone unnoticed. He has been the recipient of several awards, recognizing his outstanding contributions to the field of financial journalism. Vision for the Future: Looking ahead, Peter Okafor envisions a future where financial journalism continues to empower individuals, shape economic policies, and drive positive change. His dedication to staying at the forefront of financial news underscores his commitment to this vision. Connect with Peter Okafor: - LinkedIn: [Peter Okafor](#) - Twitter: [@PeterOkafor_N247](#) In the dynamic realm of financial journalism, Peter Okafor stands as a stalwart, combining experience, expertise, and a forward-looking vision to illuminate the path of financial understanding for a global audience.

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