• Wednesday, June 12, 2024
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BusinessDay

CBN, MOMAN, others arrive for inauguration of Dangote Refinery in Lagos, await Buhari

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As the presidential inauguration of the Dangote Refinery and Petrochemical Plant is ongoing at Lekki-Epe Free Zone in Lagos today (Monday) Godwin Emefiele, governor of the Central Bank of Nigeria and Olumide Adeosun, Chairman of the Major Oil Marketers Association of Nigeria (MOMAN) are among eminent personalities, who have arrived for the plant inauguration.

The presidential inauguration of $19 billion Dangote Refinery and Petrochemical Plant is expected to be done later in the afternoon by President Muhammadu Buhari and some other African presidents, who have been invited to grace the occasion as well as critical agencies on the continent such as African Development Bank (AfDB), African Finance Corporation (AFC) and other local financiers and insurers such as United Bank for Africa (UBA), Leadway Assurance, among others.

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BusinessDay reports that Dangote Refinery and Petrochemical Plant has a refining capacity of 650,000 barrels of crude daily and production capacity of 900,000 tonnes of polypropylene per year. It’s meant to produce and distribute the premium motor spirit (PMS) and all other petroleum and petrochemical products across Nigeria and beyond in partnership with the Nigerian National Petroleum Company Limited (NNPCL) and all other major oil marketers.