Aliko Dangote’s highly anticipated $19 billion refinery will finally begin operation today, Monday, May 22, 2023.
The Dangote Refinery, located in the Lekki Free Trade Zone of Lagos, is set to be Africa’s largest oil refinery, with a capacity to process 650,000 barrels of crude oil daily.
Punch reports that the refinery has been designed to process crude oil grades from the three continents of Africa, Asia, and America. Dangote refinery idea was birthed in 2013.
Ahead of the launch, which will be done by President Muhammadu Buhari, Aliko Dangote, in a rare post on his verified Instagram account, once again showed his astuteness.
This is Dangote’s second-ever post on instagram, and it reads:
“The journey of a thousand miles begins with a step, as they say. Commitment, consistency, and a good dose of courage must come handy on any worthwhile journey as well.
“What’s more important are the people who navigate the road to greater possibilities with you. I am grateful for our organisation’s remarkable leadership, and profound thanks to our Group Executive Director/Group Chief Risk Officer @adenikefajemirokun who drives my Office oversight portfolio, and the risks across our organisation, always ensuring that no stone is left unturned.”
Dangote is not known for his social media presence, making this post all the more intriguing for his over 400,000 followers.
Dangote refinery operation The Dangote Refinery, which covers an area of 2,635 hectares, is expected to deliver a surplus of about 38 million liters of petrol, diesel, kerosene, and aviation.
Therefore it will meet the country’s 100 percent fuel supply requirement and position it as a major player in the global oil industry.
Data from the company also showed that the Dangote Refinery could support the establishment of 26,716 filling stations, create 100,000 direct and indirect jobs, and provide a $21 billion market for Nigerian crude oil annually.
The refinery, located in Lagos, is one of the largest in the world and is expected to be launched by President Muhammdu Buhari.
Some of the benefits expected from the refinery include export savings, manufacturing of plastics and textiles, among others.