Yesterday, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, visited the site of the Dangote Refinery, in Lagos. During the visit, he urged the Dangote Group to expedite work on its crude oil refinery to enable it to come on stream before the end of 2019.
He also stated that the government is ready to give it support if the need arises.
“Where do we come in as government? I think the first thing is that we must look seriously at whatever incentives this business needs. You cannot be investing $14bn in a country without sufficient incentives to drive the business,” he stated.
Earlier, the President/Chief Executive, Dangote Group, Aliko Dangote, had said the refinery would have the capacity to refine 650,000 barrels of crude oil per day.
“We are currently building the world’s largest single line refinery and petrochemical complex, and the world’s second largest urea fertiliser plant,” he told the minister.
He said the company would also be building the largest sub-sea pipeline infrastructure anywhere in the world, with a length of 1,100 kilometres, to handle three billion standard cubic feet of gas per day.
Dangote said the gas from the pipeline would augment domestic gas supply, adding that an estimated 12,000 megawatts of power could be added to the grid from the gas system.
“We will be adding value to our economy as all these projects will be creating about 4,000 direct and 145,000 indirect jobs. We will also save over $7.5bn for Nigeria annually through import substitution,” he noted.