finally here

Nigeria: 5 reasons why the Dangote refinery is a big deal

By Temitayo Lawal

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Posted on May 22, 2023 10:48

 © One of the storage tanks at the Dangote refinery (photo taken June 2021/NN)
One of the storage tanks at the Dangote refinery (photo taken June 2021/NN)

Building efficient refineries has been at the heart of debates over energy, forex and fiscal policy in Nigeria for the last 50 years, but finally, Aliko Dangote has delivered. Here is why it matters.

Nigeria’s four government-controlled oil refineries, with a cumulative capacity of about 445,000 barrels per day (bpd), have been moribund for decades. This has meant that Nigeria exports its oil in crude form and imports refined oil with scarce foreign exchange.

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