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Dangote Refinery Opens: 10 Things You Need To Know About The Refinery
Today, May 22, Dangote Industries is inaugurating its brand-new oil refinery in Lagos State.
Aliko Dangote, the richest man in Africa, is the founder of the Dangote Petroleum Refinery and Petrochemicals.
The landscape of Nigeria’s oil and gas sector is anticipated to be transformed for the better with the opening of the refinery.
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Aliko Dangote
President Muhammadu Buhari, the outgoing president of Nigeria, will officially open the Dangote Petroleum Refinery and Petrochemicals today during the historic inauguration ceremony.
Expected at the historic event apart from international dignitaries are Presidents of Togo, Gnassingbé Eyadéma; Ghana’s Nana Akufo-Addo; President of Senegal, Macky Sall; President of Niger Republic, Mohamed Bazoum, President of Chad, Mahamat Déby and a host of ambassadors
President Paul Kagame of Rwanda, who will not be present in person, will nevertheless convey his message of goodwill virtually.
10 Things You Need To Know About The Dangote Refinery
1. When in full operation, the facility is expected to have the capacity to process about 650,000 barrels per day (bpd) of crude oil. This makes it the world’s largest single train refinery by production.
2. It is also the world’s largest single train refinery by area. It is built over 2,635 hectares of land located in Ibeju-Lekki, Lagos.
3. The Dangote refinery is the largest oil refinery in Africa.
4. The refinery would meet the 100 per cent fuel supply requirement of Nigeria. It will deliver a surplus of about 38 million litres of petrol, diesel, kerosene and aviation fuel for Nigeria daily.
5. According to official document, the Dangote Refinery could support the establishment of 26,716 fillings stations.
6. The Dangote refinery is also expected to provide employment to over 100,000 persons. (direct and indirect jobs).
7. It is expected to provide a $21bn market for Nigerian crude oil annually.
8. It is designed to process large variety of crudes including many of the African Crudes, some of the Middle Eastern Crudes and the US Light Tight Oil.
9. The refinery has 1,100km of pipeline infrastructure, with a transport capacity of three billion cubic feet of gas per day.
10. Dangote Refinery was built with the aid of investment from the Nigerian National Petroleum Company (NNPC), which purchased a 20% stake in the refinery for $2.7bn (N1.25trn).
11. The project started in September 2013 when Aliko Dangote announced that he had secured about $3.3 billion in financing for the project. The refinery was projected to cost $9 billion at the time, of which $3 billion would be invested by the Dangote Group and the remainder via commercial loans, and begin production in 2016.
12. Refinery expected to save Nigeria $30 billion in FX requirements and provide $10 billion in exports.
13. The refinery is designed to be environmentally friendly. It was designed with the latest technology to comply with stringent guidelines and regulations to protect the local environment. It will also produce the latest environmentally friendly petroleum products for worldwide markets.
14. The Dangote refinery cost over 19 billion US dollars to set up.
15. The Refinery is powered by a 435 MW Power Plant.