Dangote Refinery to Consume 2.5% of Globally Traded Crude at Full Capacity — Aliko DangotePresident and Chief Executive Officer of Dangote Group, Aliko Dangote, has disclosed that the Dangote Petroleum Refinery will consume about 2.5 per cent of globally traded crude oil when it operates at full capacity.Dangote made the disclosure while receiving the Minister of State for Industry, Senator John Owan Enoh, who led a high-level delegation from the Federal Ministry of Industry on a tour of the 700,000 barrels-per-day Dangote Petroleum Refinery, Dangote Petrochemicals complex and Dangote Fertiliser Limited in Lagos.According to a statement issued by the Dangote Group on Wednesday, the business mogul reflected on the journey of delivering the refinery, describing it as the biggest business risk of his life.
He recalled that many financiers initially doubted the project would be completed, citing concerns over its scale and complexity.Dangote said the project overcame major obstacles, including disruptions caused by the COVID-19 pandemic, foreign exchange volatility and scepticism from lenders.He noted that the successful completion of the refinery demonstrates the ability of Nigerian entrepreneurs to execute projects of global significance despite formidable challenges.The Dangote Petroleum Refinery, with a processing capacity of 700,000 barrels per day, is expected to play a significant role in Nigeria’s energy sector by boosting local refining capacity and reducing dependence on imported petroleum products.
Joseph Akwagiobe is a media contributor from Cross River State, Nigeria, currently based in Abuja. He is a graduate of Microbiology and has earned several professional certifications across diverse fields, reflecting his commitment to continuous learning, professional growth, and excellence.