“Renewed Hope is Here”: APC UK Reacts as Dangote Refinery Begin Production of Petrol

Jan 12, 2024 | Uncategorized

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The Dangote Refinery, situated in Nigeria’s commercial hub (Lagos) and recognized as the world’s largest single-train refinery, has commenced production.

This development was confirmed in a video post by the United Kingdom block of the All Progressives Congress (APC) on its official Facebook page.

The post came with the hashtag caption:

“Renewed hope is here.”

The refinery officially started operations on Friday, January 12, after receiving a substantial supply of six million barrels of crude this week, in addition to earlier batches.

Originally slated to begin operations in June 2023, the refinery, spearheaded by Aliko Dangote, initiated its production phase after receiving its initial crude deliveries late last year, marking progress for the previously delayed megaproject.

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Report highlights expected timeline for Dangote Refinery to attain full operational capacity

Billed as Africa’s largest of its type, the 650,000 barrel-per-day Dangote refinery could be a game changer for Nigeria’s economy when fully operational by helping end the country’s reliance on fuel imports.

The Dangote Petroleum Refinery, situated on 2,635 hectares in the Lekki Free Zone near Lagos, has commenced its initial production phase, focusing on manufacturing diesel and aviation fuel, with plans to produce petrol later.

Despite being one of Africa’s major oil producers and the continent’s largest economy, Nigeria heavily relies on imported fuel due to insufficient refining capacity.

The refinery, costing around $19 billion, aims to meet the country’s entire demand for refined products and generate surpluses for export.

Initially slated for a 2021 opening, the facility was inaugurated in 2023 by former President Muhammadu Buhari.

President Bola Tinubu, who assumed office in May, has implemented economic reforms, including ending fuel subsidies and floating the naira to attract foreign investment and foster long-term growth.

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While acknowledging the initial challenges, such as increased fuel prices and a weakened currency, Tinubu urges Nigerians to be patient with the reform program.

Simultaneously, the Port Harcourt refinery is anticipated to commence production.

Source: Legit.ng

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