President Muhammadu Buhari has inaugurated the Dangote petroleum refinery, an illustrious project expected to catalyse the transformation of Nigeria’s energy sector.
Buhari inaugurated the facility on Monday in Lagos — the nation’s commercial city — as bigwigs, industry players, and presidents of African countries gathered to witness the unveiling of a $19 billion facility, set to revolutionise crude oil refining in Africa.
The landmark inauguration comes a decade after Aliko Dangote Africa’s richest businessman, announced plans for the refinery in September 2013, when he secured about $3.3 billion in financing for the project.
The refinery set up to refine 650,000 barrels of crude oil per day transforms crude oil into different usage of petroleum products such as diesel, gasoline, jet fuel and kerosene.
The refinery will produce Euro-V quality gasoline and diesel, as well as jet fuel and polypropylene.
The firm stated that the facility was “designed to process a large variety of crudes including many of the African crudes, some of the Middle Eastern crudes and the US (United States) Light Tight Oil.”
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