Dangote Refinery has been described as a great economic viability to Nigeria as it would create 4,000 direct jobs and 145,000 indirect jobs and would also save Nigeria $12 billion annual import substitution.
According to the Technical Consultant of Dangote, Babajide Soyode, the refinery would make the prices of petroleum products cheaper as it would crash the prices of the products in the country.
making this known when the House of Representatives Committee on Local Content paid an oversight visit to Dangote Refinery and Petrochemicals in Lekki Free Trade Zone in Ibeju Lekki, Lagos, Soyode lauded the lawmakers for supporting indigenous companies, noting that Dangote was committed to local content development.
According to him, the refinery would lower the prices of petroleum products in Nigeria and save some costs on importation.
“The refinery will have the capacity to refine 650,000 barrels of crude oil per day while the petrochemical plant will produce 780 KTPA Polypropylene, 500 KTPA of Polyethylene while the fertiliser project will produce 3.0 million metric tonnes per annum of Urea.
‘‘As you are aware, we are currently building the world’s largest single line Refinery, Petrochemical Complex and the world’s second largest Urea Fertiliser plant,” he said
He also revealed that the company would build the largest sub-sea pipeline infrastructure with a length of 1,100km, to handle three billion SCF of gas per day, adding that this would generate over 100,000 employment opportunities and revive over 11,000 filling stations that had been in moribund due to shortage of products.
Emmanuel Ekon, the Chairman, House Committee on Local Content commended Dangote for the huge investment in the refinery and petrochemical industry, saying that the refinery would improve socio-economic development of the nation.