Dangote Refinery To Begin Operations In 2018
Dangote Group said its 650,000 barrels per day capacity refinery currently under construction in Lagos would come on stream by the end of 2018. This project would ultimately end fuel importation.
The refinery’s daily production capacity would be 150 per cent of the current total demand of petroleum products in the country, and the excess would be exported to other countries. The 1.3 million metric tonnes per annum petrochemical plant is also under construction at the refinery site in Lekki area of Lagos.
In addition, a fertiliser company with capacity to produce 2.8 million metric tonnes of assorted fertilisers is also being added to help the country to achieve food security. The dangote group has also diversified into gas business as it has started constructing a gas pipeline from the South East to Lagos. The gas plant, when completed, would have the capacity to produce three million standard cubic metres of gas per annum.
The project would help the country to record appreciable improvement in power and manufacturing sector. The company’s huge investment in the oil and gas sector will impact positively in the economy, especially in the areas of employment and preservation of foreign exchange.