The giant Dangote refinery in Lagos has attained a peak PMS production of 33 million litres a day just as the plant attains another landmark of 550,000 barrels a day, proof that the refinery has significantly ramped up operations since it came on stream last year.
The refining milestones were made known at the control room of the refinery on Tuesday when directors of the Nigerian Economic Summit , NESG visited.
It is generally believed that Nigeria’s current domestic consumption of PMS stands at around 33 million litres a day and Africa’s most populous nation is well on its way to supplying its PMS needs from local sources.
The visiting NESG directors also learnt that the Mild Hydrocracking unit, MHC has attained a height of 120% while the Continuous Catalytic Reforming Unit, CCRU has achieved a peak performance of 90%.
The MHC is designed to optimize yield while the CCRU is responsible for processing heavy naphtha from crude oil into liquid products.
Earlier it was disclosed that the refinery has exported two cargoes of jet fuel to Saudi Aramco in what some analysts say truly establishes the plant as a global leader in the business.
This has positioned Africa’s most populous nation as a major exporter of refined petroleum products after years of relying on imports for all her domestic consumption, a point that was harped upon by the Chairman of the NESG Niyi Yusuf who led the delegation to the refinery.
Yusuf maintained that the country’s quest to expand foreign investment flows will be better served if the government prioritized providing incentives to domestic investors.
Read also: Dangote refinery exports jet fuel to Saudi Aramco
While commending Aliko Dangote for establishing the $20 billion refinery – the largest single-train refinery in the world – NESG Chairman, Yusuf, stated that Nigeria needs more investments of this calibre to reach its $1 trillion economy goal.
“To achieve a $1 trillion economy, much of that must come from domestic investments. I joked during the bus ride that while others are dredging to create islands for leisure, you’ve dredged 65 million cubic tonnes of sand to create a future for the country. This refinery, fertiliser plant, petrochemical complex, and supporting infrastructure are monumental,” he said. “My hope is that God grants you the strength, courage, and health to realise your ambitions and that in your lifetime, a new Nigeria will emerge.”
Yusuf emphasised that such local industries are essential to Nigeria’s industrialisation and will help foster the growth of Small and Medium Enterprises (SMEs). He added that the NESG would continue to advocate for an improved investment climate to attract entrepreneurs, boost development, ensure food security, and address insecurity.
He lamented that Nigeria has become a dumping ground for foreign products and stressed that the country must support its entrepreneurs to become a global player. “It’s inconceivable that a nation of over 230 million people, with an annual birth rate higher than the total population of some countries, is still dependent on imports to feed its citizens.”
Yusuf also praised Dangote’s bold vision for making Nigeria self-sufficient in several key sectors.
“The NESG is grateful, and I believe the nation is as well. This refinery represents the audacity of courage. It takes immense effort to do what you’ve done and still be standing and smiling. Thank you for inspiring us and showing that nothing is impossible. You’ve transformed Nigeria from a net importer of petroleum products to a net exporter,” he said. “We’ve all read Think Big, but this is truly about thinking big. The message is clear: the private sector can bring about real change.”
Read also: Petrol imports hit 8-year low as Dangote ramps up
Yusuf, alongside NESG board members and stakeholders, toured the refinery and fertiliser plants, lauding the level of investment, technology, and sophistication of young Nigerian engineers running world-class laboratories and central control units. He acknowledged Dangote’s perseverance and success in overcoming numerous challenges.
Dangote, in his response, reiterated the importance of the private sector in national development, asserting that Nigeria’s challenges could largely be overcome by providing gainful employment to its people.
He stated that the concept of a free market should not be used as a pretext for continued import dependence, highlighting that both developed and developing nations, including the USA and China, actively protect their domestic industries to safeguard jobs and promote self-sufficiency. Dangote also cited the example of the Benin Republic, where cement imports are restricted as part of a deliberate strategy to protect local industries, despite the proximity of his Ibese plant.
“The President is a personal friend, and my Ibese plant is just 28km from Benin, yet they refuse to allow imports to protect their local industries, most of which are grinding plants,” he remarked.
He further emphasised that the government stands to gain substantially when the private sector flourishes, noting that 52 kobo (52%) of every naira Dangote Cement generates goes to the government.
Dangote also pointed out the significant challenges involved, in setting up industries in Nigeria, particularly the substantial capital investment required due to the lack of infrastructure. He stressed that investors are often forced to take on responsibilities for essential services such as power, roads, and ports – services that should be provided by the government.
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