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Sanwo-Olu Delighted Over Economic Benefits Of Dangote Investments In Lagos

by Eucharia Egwuma
March 24, 2022
in Headlines, Business, Lagos News
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Sanwo-Olu Delighted Over Economic Benefits Of Dangote Investments In Lagos
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…To create 235,000 jobs 

Lagos State Governor, Babajide Sanwo-Olu, has expressed his delight over the decision of Dangote Group to situate their biggest investment in the country in the state, saying the positive development the Dangote Oil Refinery and Fertiliser Plant would bring to Lagos and the Nigerian economy is massive.

Dangote, Nigeria’s foremost business tycoon, adjudged by Forbes as the richest man in Africa cited the projects that would create some 235,000 jobs both direct and indirect and boost the economy of Lagos and Nigeria with its multiplier effect in Ibeju-Lekki area of Lagos.

Available statistics show that Dangote Fertiliser Plant unveiled by President Muhammadu Buhari on Tuesday in Lagos State is Africa’s largest granulated urea Fertiliser complex. The plant occupies 500 hectares of land in Lekki Free Trade Zone, Lagos Nigeria. It was built at a whopping cost of $2.5 billion.

Speaking at the inauguration of Dangote Fertiliser Plant which has an installed capacity of 3.0 million metric tonnes of Urea per annum, Lagos State, Babajide Sanwo-Olu, recounted the role played by a former governor of the State, Asiwaju Bola Ahmed Tinubu, in the establishment of the fertiliser plant and the refinery.

He said, “The idea of having a free zone in the Ibeju-Lekki area was conceived by our leader Asiwaju Bola Ahmed Tinubu.

“I was with him in 2003, when we took a trip to China and we were trying to conceive a free zone and this is where we are.

“The free zone is not only home to the largest fertiliser plant in Africa but will certainly be home to the largest refinery.”

He thanked President Buhari for coming to Lagos, adding that he looked forward to receiving him in a few months’ time to commission more projects, especially the Imota Rice Mill reputed to be the biggest nationwide and Africa.

Exactly a year ago, Lagos State Governor Babajide Sanwo-Olu undertook a facility tour of the Dangote Oil Refinery, Petrochemical Complex, Fertiliser Plant and Subsea Gas Pipeline Projects at IbejuLekki and pledged to complement the efforts of the Group and boost infrastructure with adequate road network.

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Tags: African businessAliko DangoteBabajide Sanwo-OluDangote groupInvestment in LagosLagos economyNigerian Economy
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