Dangote Refinery Will Be Very Beneficial To Nigeria’s Troubled Economy –Peter Obi

By Daniel Dafe

The Labour Party Presidential Candidate in the 2023 election, Peter Obi, has said that Dangote Petroleum Refinery and Petrochemicals as the World’s Largest Single Train Petroleum Refinery, will be very beneficial to Nigeria’s troubled economy.

In a post on X, Monday, he wrote: “Today, I received from my friend and dear brother, @realFemiOtedola, the news of the Commencement of operations of the Dangote Petroleum Refinery and Petrochemicals in Lagos.

“I join other Nigerians in congratulating my dear brother, Aliko Dangote and his entire team at The Dangote Group, on this momentous occasion. The inaugural shipment of the first one million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO) to the refinery stands as a major milestone in the Nigerian energy sector.”

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According to his post, “having earlier witnessed the Commissioning of the Dangote Petroleum Refinery and Petrochemicals as the World’s Largest Single Train Petroleum Refinery, I do believe it will be very beneficial to Nigeria’s troubled economy.”

He added that when it operates maximally, “the refinery will boast a capacity of 650,000 barrels of crude oil per day and is expected to meet Nigeria’s domestic demand for petroleum products and help Nigeria save the much-needed foreign exchange currently spent on the importation of such products.”

He continued: “It’s expected that by meeting our domestic demand and supplying the surplus to the International markets, Nigeria will take its place as a key player in the downstream petroleum sector of the global market.

“As exemplified by the Dangote Group, the private sector will play a crucial role in our struggle to move our nation from consumption to production. This will help to create jobs, help in generating the much-needed foreign exchange, and encourage the growth of other small-scale businesses in the industry.”

“We will continue to encourage positive transformations in our nation that will engender the much-needed productivity that will birth a New Nigeria,” he concluded.