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Investment in refinery driven by innovation — Dangote

Alhaji Aliko Dangote, President of Dangote Group, has said that the ongoing investment in
petrochemicals, refining, fertilizer and gas was driven by the desire to bring innovation and
efficiency to Nigeria’s oil and gas sector.Speaking at the Nigeria International Petroleum Summit (NIPS) in Abuja on Monday,

Dangote said the company was committed to the concept of energy efficiency and

innovation in the oil and gas sector.

Dangote, who was represented by the Group Executive Director, Mr. Ahmed Mansur, said

that the 650,000 barrels-per-day capacity refinery is the largest in Africa.

He said the company remained passionate about efficiency and innovation in the oil and

gas sector through adding value to the hydrocarbon process.

Dangote said the project would become the world’s largest single train refinery on

completion and therefore a boost to Nigeria’s economy.

“The refinery can meet 100% of the domestic requirements of all liquid petroleum products

(Gasoline, Diesel, Kerosene and Aviation Jet), leaving the surplus for export.

“This high volume of PMS output from the Dangote Refinery will transform Nigeria from a

petrol import-dependent country to an exporter of refined petroleum products.

“The refinery is designed to accommodate multiple grades of domestic and foreign crude

and process these into high-quality gasoline, diesel, kerosene, and aviation fuels that meet

Euro V emissions specifications, plus polypropylene,” he said.

Dangote disclosed that the fertiliser plant would be the largest in West Africa, with capacity

to produce 3.0 million tonnes of Urea per year as part of the gigantic economic

transformation project.

He explained that the Dangote Fertiliser complex consisted of Ammonia and Urea plants

with associated facilities and infrastructure.

“Nigeria will be able to save $0.5 billion from import substitution and provide $0.4 billion

from exports of products from the fertiliser plant. Thus, supply of fertiliser from the plant,

which is set for commissioning before the second quarter of 2019, will be enough for

the Nigerian market and neighbouring countries,” he added.

According to him, at a time when the oil and gas industry and the global economy was in a

state of flux, it was most appropriate that attention should be given to the future,

especially given the incredible speed and quantum of change taking place in every facet

of human endeavour.

“Our economy in particular cannot afford to ignore these massive changes. Our decades of

dependence on this industry for our economic well-being and the urgent need for

diversification has been widely recognised and is clearly the most critical challenge for our

policy makers.

“But even as we seek to diversity from oil, and we are, indeed, making observable progress

in this regard, we cannot ignore the need to continue to exploit this God-given resources in

a more efficient and innovative manner,” he added.

He commended the Management of the Nigerian National Petroleum Corporation (NNPC)

for its unwavering support in his quest to make Nigeria self-sufficient in the production

 of petroleum products.

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