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| L-R: Representative of the President /CE, Dangote Industries Limited, Engr. Babajide Soyode, Technical Consultant - Dangote Industries Limited, Dangote Oil Refinery Company Limited, AGM Training , Development & Stakeholders Relationship Management, Dr. Ebele Oputa, Nigerian Content Development Monitoring Board, Director of Monitoring and Evaluation, Akintunde Adelana, Nigerian Content Development & Monitoring Board, Director of Planning, Research & Statistics, Daziba Patrick Obah, at the Dangote Petroleum Refinery Sponsor The Nigerian Content Midstream - Downstream , Oil and Gas Summit 2022, in Lagos on Tuesday 24th may 2022 |
The coming on stream of the 650,000 barrels-per-day Dangote Petroleum Refinery will guarantee availability of high quality environmentally compliant products in Nigeria, regional markets in West Africa, Southern Africa and inter-continental markets.
The President/CE of Dangote Group, Aliko Dangote, made this
disclosure on Tuesday at the Nigerian Content Midstream – Downstream Oil and
Gas Summit 2022, which held in Lagos. Dangote, who was represented by the
company’s technical consultant, Babajide Soyode, said Dangote Petroleum
Refinery would promote competition of local refining in Africa by encouraging
existing large refineries to upscale, which would result in surplus products
for exports.
He stated: “Dangote Petroleum Refinery will guarantee
adequate fuels production for domestic consumption, availability of excess
products for export, stabilisation of domestic currency, upgrading and
expansion of Nigerian National Petroleum Corporation refineries and promotion
of prospects of Nigeria transformation to a regional refining hub.”
Soyode emphasised the need for the Federal Government to
invest more on quality infrastructure to reduce importation of refinery
equipment that would ordinarily be sourced in Nigeria. He noted that the
development of specific, sustainable equipment manufacturing and services
should be the focus of the NCDMB and the Federal Government.
“Combined refining capacity of more than 1.4mbpd is expected
from these focus areas within the next five years. About 400,000bpd is expected
from the rehabilitation of NNPC refineries in Port Harcourt, Warri, and Kaduna
using target performance of not less than 90 per cent of nameplate capacity.
The greenfield element of the roadmap covers the 650,000bpd Dangote Refinery in
Lagos and the 200,000bpd BUA Refinery in Akwa Ibom,” said Wabote.
On his part, the Chief Executive Officer, Nigerian Midstream
and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed, said
there were huge opportunities in the oil and gas value chain.
Ahmed, represented by Mr. Francis Ogaree, Executive
Director, Hydrocarbon Processing Plants, Installations and Transportation
Infrastructure, NMDPRA, said the authority would continue to enable business in
the sector.