Nigeria’s President Muhammadu Buhari will on Tuesday 24 January 2023 commission the 650,000 barrels per day (bpd) Dangote refinery which is located in the Lekki axis of Lagos State.


https://naijaphilia.com/blog/2023/01/15/oil-gas-president-buhari-to-commission-dangote-oil-refinery-on-tuesday-24-jan-2023/

The integrated refinery and petrochemical complex will produce Euro-V quality petrol and diesel, as well as jet fuel and polypropylene. It is expected to generate 4,000 direct and 145,000 indirect jobs.


https://naijaphilia.com/blog/2023/01/15/oil-gas-president-buhari-to-commission-dangote-oil-refinery-on-tuesday-24-jan-2023/

Good to hear this

The refinery is owned by Mr Aliko Dangote, Africa’s richest man, and is estimated to have cost $19bn to build. It is the largest single-train refinery in the world and has a 540,000 bpd initial daily crude oil processing capacity, expandable to 650,000 bpd.


https://naijaphilia.com/blog/2023/01/15/oil-gas-president-buhari-to-commission-dangote-oil-refinery-on-tuesday-24-jan-2023/

I like how Lagos was able to attract such a project much to the chagrin of its haters.

Eko o ni baje.

The refinery is anticipated to be capable of supplying 100% Nigeria’s needs for refined products, plus a surplus for export, opening up a market worth $11bn in petroleum products from Nigeria per year.


https://naijaphilia.com/blog/2023/01/15/oil-gas-president-buhari-to-commission-dangote-oil-refinery-on-tuesday-24-jan-2023/

Good development

Additionally, the Dangote Refinery complex will produce 3 billion standard cubic feet of gas, 65 million litres premium motor spirits (petrol), 15 million litres diesel, and 4 million metric tonnes jet fuel per day.


https://naijaphilia.com/blog/2023/01/15/oil-gas-president-buhari-to-commission-dangote-oil-refinery-on-tuesday-24-jan-2023/

Nigeria would be great again

Hope this will bring down the price of fuel

According to the Organization of Petroleum Exporting Countries (OPEC), Dangote Refinery will be responsible for more than 50% of Africa’s future refining increases.


https://naijaphilia.com/blog/2023/01/15/oil-gas-president-buhari-to-commission-dangote-oil-refinery-on-tuesday-24-jan-2023/

Interesting...

Nigeria’s Federal Executive Council (FEC) approved the acquisition of 20% minority stake in the Dangote Refinery project by state-owned Nigerian National Petroleum Corporation (NNPC) for $2.76bn in August 2021.


www.naijaphilia.com/blog

The pressure on dollar should reduce.

Estimated to hold 37 billion barrels proven oil reserves, Nigeria is the 2nd biggest oil-rich country in Africa, after Libya. Nigeria is however dependent on imported refined fuel products due to lack of domestic refining capacity.

Dangote refinery will double Nigeria’s refining capacity and help meet the increasing domestic fuel demand, while generating forex via exports.



www.naijaphilia.com/blog

The refinery was built on a 2,635 hectare (26.35m sq metres) location at the Lekki Free Trade zone along the Atlantic coast. This location of the complex is ideal for easy transhipment of refined petroleum products to international markets.



https://www.naijaphilia.com/blog

Nice one!

Jogs1900:
The pressure on dollar should reduce.

Yes it will, one export sales start from the new refinery.

I hope this will reduce the pressure on dollar, increase the value of Naira as well as our GDP.

May God Bless Dangote and The Federal Republic of Nigeria.

StrongestGuy:


Yes it will, one export sales start from the new refinery.

My fear is the local price of refined product like petrol, kerosene, diesel etc won't reduce since Dangote will be selling at international price to Nigeria market.

DANGOTE REFINERY WORLD RECORDS

1. Largest single-train refinery in the world.

2. Supplied with crude oil by the largest sub-sea pipeline infrastructure in the world (1,100 km long).

3. Largest Crude Distillation Unit (CDU) in the world weighing 2,250 metric tonnes with dimensions: 112.5 metres height, 14.036m girth and 13.752m width. Above-mentioned weight does not include the internal trays, which are approx. 536 metric tonnes. For comparison, this CDU is taller than the Lagos Eko Tower Black Pearl (82m) or the Saturn V Rocket (111m).

4. Heaviest Residue fluid catalytic cracking (RFCC) unit in the world, at 3,000 metric tonnes. It is also the heaviest single piece made of metal in the world.

5. Has one of the tallest continuous catalytic regeneration (CCR) reactors in the world at 95 m tall and weighing approx. 703 metric tonnes, 9 times heavier than a space shuttle.


https://www.naijaphilia.com/blog

Some good news!

Makes a refreshing change from the usual news items.

Ahmed0336:
I hope this will reduce the pressure on dollar, increase the value of Naira as well as our GDP.

May God Bless Dangote and The Federal Republic of Nigeria.

Amen! Nigeria will eventually take her destined place in the comity of nations.

The scope of this refinery project is actually mind-boggling.

Just think about the massive employment opportunities, the resultant socio-economic multiplier effects, the FX savings on fuel importation, the termination of fuel subsidy payments, the extra FX earnings from finished product exports, etc, etc.

I like how Lagos disciplined able to woo such a project much to the chagrin of its haters