Buhari, Tinubu, African Presidents on the Verge to Commission Dangote Refinery

Muhammadu Buhari, president of the Federal Republic of Nigeria,  Nana Akufo-Addo, the president of Ghana, Faure Gnassingbé of Togo,  Macky Sall of Senegal, Mahamat Déby of Chad,and Mohamed Bazoum of Niger are set to commission Africa’s largest 650,000 Barrels Per Day Dangote Refinery, today, Monday in Ibeju-Lekki Lagos.

Bola Ahmed Tinubu, president-elect, will also grace the occasion, as well as President Paul Kagame of Rwanda, who will not be physically present, will present his goodwill message virtually.

This event which marks a new era is expected to transform Nigeria’s oil and gas industry. The numerous attached to the refinery includes taking Nigeria off the petrol import market and ending fuel scarcity.

What the refinery entails

Aliko Dangote, Africa’s richest man and the owner of the new refinery can meet a total of 100% of the Nigerian requirement for all refined products such as Gasoline, 53 million litres per day; Diesel, 34 million litres per day; Kerosene, 10 million litres per day, and Aviation Jet, 2 million litres per day. At the same time,  would also have a surplus of each of these products for export.

Information from S&P Global Commodity Insights revealed that motor gasoline (petrol) production is projected to rise from nearly zero currently to 249,000 barrels per day (b/d) in 2026 and exceed 300,000 b/d by 2033. The report also states that petrol imports will decrease by over half to 154,000 b/d by 2026.

The event would have all the 36 state governors and most of the governors-elect, ministers, senators, and captains of industries in Nigeria and others from outside the country. Oil traders globally, top international bankers, international multilateral agencies have also indicated their readiness to grace the ceremony.