Dangote Refinery to Create $21bn Annual Market for Nigerian Crude

The Dangote Petroleum Refinery is set to generate an annual market worth $21 billion for Nigerian crude oil, announced Aliko Dangote, Chairman of Dangote Refinery, during a visit by Bello Matawalle, minister of state for defence.

During the visit on Saturday, Matawalle praised Dangote’s bold investments and highlighted their positive impact on the Nigerian economy through wealth creation and job generation.

The minister reiterated the federal government’s commitment to safeguarding such pivotal investments, ensuring they contribute significantly to economic growth and employment opportunities for the nation.

Matawalle emphasised President Bola Tinubu’s dedication to protecting citizens, infrastructure, and investments across Nigeria.

This assurance was confirmed in a statement signed by Henshaw Ogubike, director of information and Public Relations at Defense HeadQuarters, on Sunday.

Addressing investors, Matawalle assured Dangote and others that their investments would be securely protected within the country.

Describing the multi-billion-dollar refinery as the largest in Africa, he underscored the government’s commitment to providing security to maintain high production levels.

Matawalle commended Dangote’s patriotism and courageous investment in Nigeria, stressing the significant contributions to economic growth and employment.

He reiterated the government’s pledge to maintain maximum security around the refinery facilities.

Expressing gratitude for the Minister’s visit, Dangote reaffirmed his commitment to supporting Nigeria’s economic vision. He aligned his efforts with President Tinubu’s goals of improving lives through wealth creation and employment for the youth.

“The refinery will meet 100% of Nigeria’s refined product requirements and have a surplus for export, creating a market for $21 billion per annum of Nigerian crude,” Dangote stated.

June 03, 2024