Dangote Group with 650,000 barrels-per-day capacity refinery, the largest in Africa,has expressed commitment to the concept of energy efficiency and innovation in the oil and gas sector.
“The ongoing investment in refining, petrochemicals, fertilizer and gas is driven by the desire to bring innovation and efficiency into all aspects of Nigeria’s oil and gas sector”, said the President/Chief Executive, Aliko Dangote.
Dangote, who said these on Monday at the ongoing Nigeria International Petroleum Summit (NIPS2019) in Abuja, noted that investment in refinery and petrochemical, is driven by innovation and efficiency.
The business mogul who was represented by the Group Executive Director, Government and Strategic Relations, Dangote Industries Limited, Engr. Ahmed Mansur, said the theme of the conference, “Shaping the Future through Efficiency and Innovation”, was qu apt; given Nigeria’s quest for economic transformation.
“Aliko Dangote is passionate about efficiency and innovation in the oil & gas sector through adding value to the hydrocarbon process. The company’s passion and drive is seen in the building of the project, which will become the world largest single train refinery on completion and therefore a boost to Nigeria’s economy”, he said.
He further stated that the Refinery can meet 100% of the domestic requirement of all liquid petroleum products (Gasoline, Diesel, Kerosene and Aviation Jet), leaving the surplus for export.
According to him, “This high volume of PMS output from the Dangote Refinery will transform Nigeria from a petrol import-dependent country to an exporter of refined petroleum products. The refinery is designed to accommodate multiple grades of domestic and foreign crude and process these into high-quality gasoline, diesel, kerosene, and aviation fuels that meet Euro V emissions specifications, plus polypropylene.
“Dangote is also constructing the largest fertiliser Plant in West Africa with capacity to produce 3.0 million tonnes of Urea per year as part of the gigantic economic transformation project”.
He explained that the Dangote Fertiliser complex consists of Ammonia and Urea plants with associated facilities and infrastructure.
“Nigeria will be able to save $0.5 billion from import substitution and provide $0.4 billion from exports of products from the fertiliser plant. Thus, supply of fertiliser from the plant, which is set for commissioning before the second quarter of 2019, will be enough for the Nigerian market and neighbouring countries,” he added.
Speaking further, he said at a time when the oil and gas industry and the global economy is in a state of flux, it is most appropriate that attention be given to the future.