The 650,000 barrels per day privately owned crude oil refinery will mark Nigeria reaching self-sufficiency in domestic refining and providing excess products for export, according to Aliko Dangote, the president of Dangote Industries Limited.
“It’s our firm commitment that we will replicate what we have achieved in this sector in the cement and fertiliser markets, where Nigeria transited from being the largest importer of these two products to a net exporter,” says Dangote.
Nigeria’s central bank chief executive, Godwin Emefiele, said the refinery would help generate export revenue for the country.
“The expectations people are putting on the [refinery] are high. I hope it does not disappoint because that business is a private business, so Nigeria has very little equity in it,” Femi Shuaib, a professor of economics at the University of Lagos, tells The Africa Report.
“The expectations
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