Why Dangote Refinery is good for Nigeria – Otedola

Billionaire businessman, Femi Otedola, on Sunday said Nigeria and the West African sub-region had a lot to benefit from the Dangote Refinery as it officially commenced production.

In a congratulatory post on his verified X handle, @realFemiOtedola, on Sunday afternoon, Otedola said the refinery would meet Nigerians’ energy needs, guarantee refined petrol independence for the people and promote prosperity in West Africa.

He hinted that contrary to fears of pollution from the 650,000 barrels per day refinery complex, especially with the global challenge of climate change, the facility would champion environmental sustainability.

He also congratulated Aliko Dangote, whom he described as his “bestie” while describing the $20bn refinery as the ‘eighth wonder of the world’ and a beacon of hope for millions of Nigerians and Africans.

Otedola stated, “The Dangote Petrochemical Complex, which consists of the world’s largest single-train 650,000 barrels per day petroleum Refinery, a one million metric tonnes of Polypropylene per annum facility, and two of the world’s largest fertilizer trains – with a capacity of producing three million tonnes of urea – is much more than just an industrial milestone; it’s a testament to the visionary leadership and relentless pursuit of excellence of one of Africa’s finest and most dogged patriots.”

Speaking on the benefits of the refinery, he stated, “By meeting our requirements for all refined petroleum products, it will champion energy security and independence for our nation and act as a catalyst for a new era of prosperity for the subcontinent. It promises economic transformation for Nigerians today and for generations to come.”
On the environmental sustainability element, he said, “With its carbon capture technologies and storage processes, it will capture up to 90%+ of the CO2 emitted and play a significant role in reducing Well-to-tank carbon emissions from crude oil maritime transportation, thereby playing its own role in helping Nigeria meet its target for net-zero emissions by 2060.

“The Refinery recycles 100 per cent of its water. The heat coming out of the process is fully captured to produce 50MW of power. Dangote is also producing Euro 5 to replace the bad Euro 5 that has been dumped in Africa for a long time. Shipping 65,000 barrels per day of crude out of Nigeria and 650kbpd in refined products to Nigeria and nearby countries, which is 480 ships of one million barrels per day, will save 1.5 million to 2.5 million tons of CO2 emissions. This will help the environment.”

Dangote Petroleum Refinery and Petrochemicals Plant had in a statement on Friday confirmed the receipt of one million barrels of crude cargo at its terminal in Lekki, Lagos on Thursday, saying, “Purchased one million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited, one of the largest trading companies in Nigeria as well as globally, trading over eight million barrels of crude oil per day.

“The STASCO cargo contained one million barrels from Agbami and sailed to Dangote Refinery’s Single Point Mooring where it was discharged into the refinery’s crude oil tanks.”