The dangote refinery which complies with World Bank, US EPA, European emission norms and Department of Petroleum Resources (DPR) emission / effluent norms is set to be commissioned on the 22nd of May 2023 and here are some of the things you need to know about this project.
The dangote refinery is located in Ibeju-Lekki,Lagos covering a land area of apporoximately 2,635 hectares. The dangote refinery is the 5th refinery in Nigeria.
According to industrial statistics, the history of Nigeria’s four government-owned refineries centres around abandonment, neglect, unproductivity and revenue wastage.
The dangote refinery is designed for 100% Nigerian crude with flexibility to process other crudes like some of the middle eastern crudes, and the US Light Tight Oil.
The refinery is powered by a 435MW Power Plant and has the Largest Single Train withthe ability to transport 650,000 barrels per day. It has a self sufficient marine facility with the ability for freight optimisation and a port with a load bearing capacity of 25 tonnes/sq metre to bring over dimensional cargoes close to the site directly.
This project has opened door for 900 trained young engineers in refinery operations abroad. Mechanical Engineers trained in the GE university in Italy, Process engineers trained by Honeywell/UOP for six months.
The National Bureau of Statistics’ Fourth Quarter report of 2022 said Nigeria spent N1.79 trillion on the importation of petrol and diesel; this is coupled with the N4.39 trillion spent on fuel subsidies.
In the first quarter of 2023 alone, Nigeria spent N3 trillion on fuel subsidies; if the subsidy payment persists, it will spend N4 trillion in the next half of the year.
Experts familiar with the industry said the billions of naira spent on fuel importation and subsidies payment would be saved when the Dangote refinery comes onboard.
A week ago, Aliko Dangote, during an interview with the Economist Magazine, disclosed that the company could save Nigeria $10 billion in foreign exchange (FX) and generate another $10 billion in exports when the facility begins operation.
