You are here: HomeBusiness2023 05 22Article 656888

Business News of Monday, 22 May 2023

Source: www.mynigeria.com

12 facts about Dangote refinery you should know

A collage of Aliko Dangote and refinery A collage of Aliko Dangote and refinery

President Muhammadu Buhari is scheduled to commission the long-awaited Dangote Refinery in Lagos on Monday, May 22, 2023.

Due to numerous delays, including the coronavirus pandemic, the importing of equipment, finance challenges, and other factors, the project has taken many years to complete.

However, Nigeria, which has relied on the importation of refined crude for decades due to the inefficiency of its refineries, will be much relieved by the completion and start of operations of the Dangote refinery.

The refinery is just one of the numerous businesses owned by Africa's richest man and the richest black man in the world, Alhaji Aliko Dangote.

MyNigeria highlights some facts about the refinery as Nigerians wait to fully experience the benefits and possibilities of the facility.

12 facts about Dangote refinery:

1. It is situated in Ibeju-Lekki, Lagos, and has a total land area of about 2,635 hectares.

2. A 435 MW Power Plant powers the refinery.

3. The refinery has a KTPA Polypropylene Plant and it is the largest single-train 650,000 barrels per day petroleum refinery in the world.

4. It can produce all the refined products Nigeria needs at full capacity, plus surplus for export.

5. Made to process 100% Nigerian crude yet flexible enough to handle various crudes.

6. The refinery utilizes state-of-the-art technology.

7. A marine facility that is self-sufficient and capable of optimizing freight. It is also largest single order of five SPMs ever placed anywhere.

8. The refinery's design complies with emission and effluent standards set by the Department of Petroleum Resources (DPR), the World Bank, the US EPA, and the European Union.

9. Designed to process a wide range of crudes, including several Middle Eastern and African crudes as well as US light tight oil.

10. Constructed the largest granite quarry in the world (10 million tonnes of production capacity) to produce coarse aggregate, stone column material, stone base, stone dust, and material for breakwaters.

11. Dangote is one of the few companies in the world that is directly involved in the engineering, procurement, and construction (EPC) of a petroleum refinery and a petrochemical complex. Aside from three companies, no single owner has completed the entire EPC Contract for a petroleum refinery globally.

12. Nigeria will earn 21 billion dollars annually from the Dangote Refinery Plant, a legacy project.

Oil and gas industry analysts have predicted that the amount of gasoline imported into Nigeria in the upcoming years will significantly decrease once refining operations begin, hence the Dangote refinery will be of signifcant benefit to the country and the rest of the continent.



GA