While keeping the specifics under wraps, Dangote expressed renewed vigor following the President's visit, stating, "Now that the President has visited and he has given us additional energy, we will inform you, you will hear from us soon, and that will be one of the major shakedowns in the entire country. It is not the reduction of price, it will be the total overhaul of the downstream."
The industrialist also conveyed his immense confidence in the refinery's future trajectory. "I told the President that he had not seen anything yet, we are going on a massive trajectory, much more than what you have seen here. If you come back in the next five years, the refinery will be on the back burner," he projected, suggesting even more significant developments are on the horizon for the ambitious project.
In a move set to attract further investment, Dangote reiterated plans to list the refinery on the stock exchange, beginning with the fertilizer company this year.
Dangote also took the opportunity to commend President Tinubu's economic policies, acknowledging their positive impact on the nation's industrial landscape. He highlighted that recent reforms have fostered a more conducive environment for industrial growth and long-term investment.
The 'Nigeria First Policy' particularly resonated with Dangote, who praised its aim to reduce dependence on foreign goods and services by prioritizing local content in investment decisions, business operations, and consumer behavior. This policy, he noted, aligns seamlessly with the Dangote Group's core vision of fostering self-sufficiency by producing domestically what the nation consumes.
Furthermore, Dangote lauded the administration's "significant improvements in national infrastructure through initiatives such as the Nigerian Road Infrastructure Development Fund and the Refurbishment Investment Tax Credit Scheme." He revealed that under these schemes, eight major roads, including the Lekki-Epe corridor, have been awarded within the same cluster at a cumulative cost of N900 billion. The Deep Sea Port Access Road, he added, is one of these eight major road projects, spanning 500 kilometers and including two in Borno State that will eventually link Nigeria to Chad and Cameroon.
The Dangote Petroleum Refinery, he stated, is a testament to the Group's strategic initiatives in support of the Federal Government’s Renewed Hope Agenda, which seeks to reposition Nigeria as a regional manufacturing hub. "Our objective is to produce domestically those goods that have historically been imported, despite our abundant natural resources," Dangote emphasized. He cited past successes in cement manufacturing, which made Nigeria self-sufficient and a net exporter, and fertilizer production, where Nigeria now exports surplus. He also highlighted the recent commencement of refined petroleum product exports to countries including the United States and Saudi Arabia.
Confident in the refinery's transformative potential, Dangote declared that the days of long fuel queues in Nigeria are over. He reaffirmed the Dangote Group's unwavering commitment to Nigeria's economic transformation, stating, "We remain steadfast in our commitment to contributing meaningfully to Nigeria’s economic transformation, supporting your administration’s efforts to build a self-reliant, globally competitive nation. We have remained Nigeria’s highest tax-paying company."
In a notable gesture, Dangote told the President, "The Dangote refinery complex is, in many ways, your brainchild," and announced that the main road leading into the refinery would henceforth be known as "Bola Ahmed Tinubu Road." He also revealed that despite paying N450 billion in taxes last year, the group is committed to spending N900 billion on road infrastructure across Nigeria.
Responding to Dangote's remarks, President Tinubu commended the businessman for his unwavering belief in Nigeria and for making "bold investments that have become a cornerstone in the country’s economic transformation." He described the refinery as "a remarkable achievement," a "phenomenal project of our time," and "a major point of reference for Nigeria’s industrial and economic growth."
Tinubu also expressed satisfaction with the success of the Deep Sea Port project, which he initiated during his tenure as Governor of Lagos State, noting its significant role in reducing logistics costs. He lauded Dangote as one of Nigeria's "four wise men" in the economic landscape, acknowledging his daring thinking, actions, and steadfast commitment to the country. The President humorously included Jim Ovia of Zenith Bank, Femi Otedola, and Samad Rabiu of BUA alongside Dangote as key figures in Nigeria's economic progress.