By Moses Patience Chat
The Chairman of Dangote Group, Alhaji Aliko Dangote, has announced that the first petroleum products from the Group’s refinery will enter the local market in July or early August this year.
Dangote made this disclosure on Monday, while giving the welcome speech at the official commissioning of his Group’s 650,000 barrels per day refinery by President Muhammadu Buhari at the refinery complex in Ibeju-Lekki, Lagos.
He said the facility has a capacity to process 650,000 barrels per day of crude oil and 900,000 tonnes of polypropylene in a single train – which is the largest in the world. We have selected the best plants and equipment and the latest technologies from across the world.
According to him, the products are designed to meet the highest quality standards, and include Premium Motor Spirit (PMS), Automotive Gas Oil (Diesel), Aviation Turbine Kerosine (ATK), all of Euro V standards, which will enable Nigeria not only to meet demand but also become a key player in the African and global market.
Dangote said that the country’s coastal location and offshore loading and offloading (SPM) facilities, with a capacity to receive all its crude oil supplies and evacuate up to 75 per cent of liquid products, offers the facility direct access to the rest of Africa and the global market for exports.
He said the Group’s huge investment of over $18.5 billion in the oil and gas Industry has been prompted by the desire to support and contribute to the Federal Government’s sustained effort to transform the economy and properly position Nigeria as the leading nation in Africa and a respected member among emerging economies in the world.
“This commissioning ceremony is just the beginning of a great journey, a milestone in a new and exciting trajectory for the Downstream sector of Nigeria’s Oil and Gas Industry. It is our firm commitment that we will replicate in this sector, what we have achieved in the cement and fertilizer markets, where Nigeria transited from being the largest importer of these products to a net exporter.
“Beyond today’s ceremony, our first goal is to ramp up production of the various products to ensure that within this year, we are able to fully satisfy our nation’s demand for high quality products to enable us eliminate the tragedy of import dependency and stop, once and for all, the dumping in our market of toxic sub-standard petroleum products. Your Excellencies, Distinquished Guests, our first product will be in the market before the end of July this year.” Dangote said.
He added that the Group is committed to operating the plant in line with international best practice, and that” recognizing the importance of protecting the environment, we have adopted stringent environmental, health and safety policies to ensure that the Refinery operates in a safe and sustainable manner.”