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December 10, 2023
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Otedola: Dangote refinery to lead Nigeria’s energy security

Billionaire entrepreneur Femi Otedola expressed his belief that Dangote Refinery is poised to lead Nigeria’s energy security. Taking to his X (formerly Twitter) handle on Sunday, Otedola extended congratulations to Aliko Dangote, his “bestie,” for the refinery’s production commencement.

The refinery, commissioned in May prior to former President Muhammadu Buhari’s term expiration, holds the promise of meeting Nigeria’s refined petroleum product needs, fostering energy independence, and catalyzing prosperity.

Otedola hailed Dangote Petrochemical Complex as the “8th Wonder of the World,” comprising the world’s largest single-train 650,000 barrels per day Petroleum Refinery, a 1 million metric tonnes per-annum Polypropylene facility, and two of the world’s largest Fertilizer Trains. He emphasized that this milestone represents visionary leadership and relentless pursuit of excellence.

Sharing insights into the refinery’s journey, Otedola disclosed his involvement in its conceptualization, acknowledging the sleepless nights spent over the last decade to bring the dream to fruition. Beyond industrial significance, he highlighted the refinery’s role in championing environmental sustainability. The facility, with carbon capture technologies, aims to capture over 90% of emitted CO2, contributing to Nigeria’s target for net-zero emissions by 2060.

Dangote Refinery’s commitment to environmental responsibility includes recirculating 100% of its water and harnessing heat from the process to produce 50MW of power. Additionally, the refinery produces Euro 5 fuel, replacing environmentally harmful Euro 5, and aims to save 1.5 to 2.5 million tons of CO2 emissions by shipping refined products instead of crude.

Revealing a significant development, Dangote Refinery received its first one million barrels of crude oil on Friday. This marks the initial phase of the six million barrels required for the refinery’s operation. The Nigerian National Petroleum Company Limited and ExxonMobil are among the suppliers scheduled to provide subsequent cargoes. At full capacity, Dangote Refinery can process 650,000 barrels a day, with its production set to include diesel, aviation fuel, LPG, and Premium Motor Spirit.

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