Ekeomah Atuonwu
Nigerian billionaire Aliko Dangote said on Friday that his 650,000 barrel per day oil refinery will be operational next year 2023, before Nigeria’s President Muhammadu Buhari’s term expires.
The refinery is being built in Lagos at a cost of $19 billion, having been delayed for several years, which has increased the cost from Dangote’s earlier estimates of $12-$14 billion.
“By the grace of God, Mr President will come and commission it (the refinery) before the end of his term next year,” Dangote said after meeting with Buhari at the presidential villa in Abuja.
This month, AEM reported that Dangote Group Executive, Devakumar Edwin stated the refinery would begin production in the fourth quarter of 2022.
Despite being Africa’s largest oil producer and exporter, the government sees the refinery as a solution to ending Nigeria’s reliance on imports for most refined petroleum products.
According to government officials, work has begun to upgrade some state-owned refineries that have a refining capacity of 445,000 barrels per day (bpd) but have become dilapidated over the years.
