….Dangote Refinery Opening will be a game-changer in terms of employment generation
The Federal Government has stated that the $2.5 billion Dangote fertiliser plant will position Nigeria as the leading producer of urea in Africa.
The Minister of Information and Culture, Alhaji Lai Mohammed, made this known during a tour of the Dangote Petroleum Refinery and Petrochemicals as well as the Dangote Fertiliser Plant on Sunday.
He added that this development will ensure Nigeria’s food security, and that the Petroleum Refinery and Petrochemicals will also help ensure Nigeria’s energy security and boost exports.
Speaking during the tour, the minister said, “We must not fail to appreciate the fact that it’s not just that we will be self-sufficient in terms of food security and energy security, but the quality of our refined products and fertiliser will be world-class.”
The Minister added that while the refinery will ensure the availability of the highest quality of Euro V Grade petroleum products, the fertiliser plant is producing granulated urea, which is of the highest quality and which does not become sticky and cause loss of value to the farmers.
He said that the 650,000 barrels per day Dangote Refinery, which is expected to be commissioned this year, will be a game-changer in terms of employment generation, contribution to the GDP and conservation of foreign exchange.
“Gentlemen, based on what we have heard here today with regards to the 650,000 barrels per day Dangote Refinery, it would be a game-changer once it comes on stream in terms of employment generation. The refinery as of today employs 35,000 people everyday.
“There will be huge value addition that will contribute to the increase in GDP, conservation of foreign exchange as there will be no more importation of petroleum products, generation of foreign exchange through export of finished product, availability of petroleum products thus ending petrol queues, and attraction of foreign capital investments,” the Minister said.
He revealed that with the coming on stream of the Dangote Fertilizer Plant, Nigeria is now self-sufficient in the production of urea, adding that “Nigeria is now the leading producer of urea in Africa, as the Dangote Fertiliser plant is already exporting to the US, India, Brazil, Mexico and Argentina. We were fortunate to witness a ship being loaded with urea for export to Argentina during our visit today.”
The refinery is being built at a cost of $19 billion while the fertilizer plant costs $2.5 billion.
Recall that the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, revealed that the number of fertiliser blending plants in Nigeria, has risen from 7 to over 48, since the assumption of office by President Muhammadu Buhari in 2015.
This is as 35 million blended bags of fertiliser have been produced in the country within the last 5 years.
