The world’s largest single-train Refinery, the 650,000 barrel-per-day Dangote refinery has commenced production. The $19B refinery located in Lagos Nigeria, will initially refine diesel and aviation fuel. This follows the delivery of six million barrels of crude oil supply to the refinery.
Billed as Africa’s largest of its type, is set to be a game changer for Nigeria’s economy when fully operational by helping end the country’s reliance on fuel imports.
Though one of Africa’s largest oil producers and the continent’s top economy, Nigeria relies almost totally on imported fuel and diesel because of a lack of refining capacity.
Fuel imports and subsidies caused a huge drain on foreign exchange when Nigeria was struggling with dwindling oil revenues and foreign currency shortages.
The facility sits on 2,635 hectares (6,500 acres) of land at the Lekki Free Zone on the edge of Lagos city.
Since coming to office in May, President Bola Tinubu has ended the long-standing fuel subsidy and floated the naira currency in economic reforms he says will attract foreign investment and build long-term growth.
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Tosan Aduayi writes from Mansfield, Texas – [email protected]
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