Is Dangote the messiah we've been
waiting for in Nigeria to end the recurrent fuel crisis?
Will Dangote Refinery increase the
GDP of Nigerian economy?
Can Dangote refinery make Lagos State
the Dubai of Africa?
What will
happen to FG refineries when Dangote finally commences operation in 2019?
With
Dangote’s giant stride and unprecedented investment in the local economy, Nigeria
will be taken away from the record of countries that import petroleum chemicals
and allied products. Besides, Nigeria will be generating and saving an
important quantity of forex that will be earned from the export of petroleum
and petro-chemical products in a not too distant a future. From my trend
analysis, Dangote will edge Mr Bill Gates or whoever is on the top of the
ladder on the forbes list in a very short period after the commencement of
operation in the refinery. Here are 10 things you should know about the Dangote
refinery:
1. JOB CREATION OPPORTUNITIES: Dangote
refinery will create235,000 Jobs when completed. There would
even be a whole lot of indirect employment and empowerment in and around
Lagos-State, people who are into real estates, food supplies, commodities,
dealers of petrochemical products, Government institutions, foreign investors,
oil servicing firms, etc.
2. FOREX
EARNING POTENTIALS: Nigeria would save $17.5 billion in forex earnings from the
project.
3. FIRST
OF ITS KIND: The refinery with 650,000 barrels of crude oil refining capacity
per day is by all standards the largest in the world.
4. RECORD
BREAKING PROJECT: It is the largest single project anywhere in the world – be
it fertilizer, gas pipeline, petrochemical or refinery. This is the largest
single refinery in the world.
5. EXPORT
OPPORTUNITY IN GAS RESOURCES: The gas project from Dangote Plant would add Over
3 billion cubic feet of gas per day to the Nigerian market, meaning that with
the current requirement of about two billion cubic feet of gas per day,
Nigeria’s power sector would improve significantly when the project is finally
completed.
6. ATTRACTION OF FOREIGN
PARTNERSHIP/ALLIANCES: The United States Trade and Development Agency has
signed has a training pact with Dangote Oil Refining Company.
7. MULTIBILLION DOLAR PROJECT: The
Dangote refinery project is worth an estimated $10b usd, more than the nation
yearly budget.
8. 24HOURS STEADY POWER SUPPLY: With
Dangote refinery coming on board, Lagos State can have 24hrs steady power and
electricity supply and this will boost the economic potentials of the state.
9. POPULATION EXPLOSION: Human Population
in Lagos State is bound explode to a
