Africa’s largest petrochemical refinery, the $20.5-billion Dangote Oil Refinery, owned by Africa’s wealthiest individual, Aliko Dangote, has begun providing petroleum products to the local market, marking a significant step in Nigeria’s quest for energy independence.
The Dangote Group’s executive head of strategy, portfolio development, and capital projects, Devakumar Edwin, verified to Reuters that the refinery began distribution operations on Tuesday, April 2. This achievement benefits not just Dangote, Africa’s richest person with a net worth of over $15 billion, but also Nigeria’s goal to minimize reliance on foreign petroleum.
Edwin confirmed the delivery of diesel and jet fuel to the local market, stating, “We have considerable supplies. Products are being removed via sea and road. Ships are lined up one after the other to load diesel and jet fuel. The refinery, which has the world’s largest single-train petroleum refinery with a daily capacity of 650,000 barrels, intends to reduce Nigeria’s dependency on imported petroleum products.
The Dangote Petrochemical Complex, located on a peninsula on the outskirts of Lagos, represents a huge step forward in industrial growth. Along with its refinery capabilities, it houses a polypropylene facility that produces 1 million metric tonnes per year, as well as two of the largest fertilizer trains, each capable of generating 3 million tonnes of urea per year.
The giant refinery promotes environmental sustainability by recycling all of its water, generating 50MW of power from process heat, and producing cleaner Euro 5 fuel. Advanced carbon capture systems are used to reduce CO2 emissions and lower the carbon footprint of maritime crude oil transportation.
Dangote expressed gratitude for overcoming the problems experienced during the long-term development, which saw the project surpass its budget by $8 billion and face substantial delays. He admitted periods of uncertainty, saying, “We either sink or sail through. And we thank God that we have arrived at our destination.”
The Dangote Oil Refinery’s start of local supply not only marks a watershed moment in Nigeria’s oil sector, but it also reinforces Dangote’s ambition for industrial development. With aspirations of lessening the country’s dependency on imported petroleum products, the refinery serves as a beacon of growth and self-sufficiency in Africa’s economic landscape.