US$20 billion Dangote refinery will make West Africa stronger - Akufo-Addo

President Nana Addo Dankwa Akufo-Addo has called for collaborative support for the newly commissioned Dangote Refinery and Petrochemical Complex in Lagos-Nigeria.

According to him, the success of the $20 billion establishment will ensure that West Africa and Africa as a whole become stronger and prosperous in the oil and gas sector.

President Akufo-Addo said this when he joined Nigeria’s President, Muhammadu Buhari, and other African Presidents to commission the largest single-train oil refinery ever to be established in the world by Nigerian industrialist and businessman, Aliko Dangote.

He also noted that Africa’s lands are abundantly endowed with hydrocarbon resources which when fully exploited can create prosperity for all on the continent.

“Africa must find ways of bringing their substantial hydrocarbon resources to production quickly and We must add value to these resources and not export them in their raw state if Africa is to transition to the status of developed countries,” the President said.

President Akufo-Addo further advocated for African countries to effectively manage their natural resources as part of efforts to enhance self-dependency and continental development.

“…And I am confident that an establishment such as the Dangote Refinery and Petrochemical Complex would help us realise this dream as quickly as possible,” he added.

The newly commissioned Dangote Refinery and Petrochemical Complex is located in the Lekki area of Lagos State which has the capacity to process 650,000 barrels of crude oil per day.

The refinery is 20%-owned by the state and is expected to operate at full capacity by 2024.

The world-class facility is also projected to meet 100 percent of Nigeria’s requirement of all refined products as well as have a surplus for export purposes.

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