President of the Dangote Group, Aliko Dangote, says most Nigerians are unaware they at present pay practically half the worth for petrol in comparison with neighbouring West African international locations, due to his refinery’s output.
Talking throughout a go to by the ECOWAS Fee President, Dr Omar Touray, to the 650,000 barrels-per-day Dangote Refinery, Dangote famous that petrol is now bought regionally at between ₦815 and ₦820 per litre, roughly 55 per cent of the typical ₦1,600 per litre fee within the area.
“In neighbouring international locations, the typical value of petrol is round $1 per litre, which is ₦1,600. However right here at our refinery, we’re promoting at between ₦815 and ₦820.
“Many Nigerians don’t realise that they’re at present paying simply 55 per cent of what others within the area are paying for petrol,” Dangote stated in an announcement issued by his group on Sunday.
He defined that the refinery has already helped minimize gas costs considerably. “Final 12 months, after we started diesel manufacturing, we had been in a position to cut back the worth from ₦1,700 to ₦1,100 at a go, and as of as we speak, the worth has crashed additional,” he stated.
“This discount has made a major impression throughout varied sectors. It has supported industries, benefited these of us in mining, and offered important aid to the agricultural sector. The impact has been far-reaching.”
Dangote informed the delegation that extra was to come back. “We’ve obtained a a lot bigger initiative within the pipeline, one thing we’ve not but introduced,” he added. “This refinery is constructed for them, and they’ll benefit from the most profit from it.”
In keeping with him, the Dangote refinery can meet Nigeria’s gas wants and serve the broader West African area, difficult perceptions that the power lacks ample capability.
“There have been many claims suggesting that we don’t even produce sufficient to satisfy Nigeria’s wants, so how might we probably provide different West African international locations? However now, they (ECOWAS officers) are right here to see the truth for themselves and, extra importantly, to encourage different nations to embark on equally large-scale industrial tasks,” he acknowledged.
He reiterated that Africa’s dependence on imported items stays a significant hurdle to growth.
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“So long as we proceed importing what we are able to produce, we are going to stay underdeveloped. This refinery is proof that we are able to construct for ourselves at scale, to world requirements,” the assertion learn.
Touring the power, ECOWAS President Dr Omar Touray described the refinery as a transformative mannequin for the area.
“What I’ve seen as we speak provides me loads of hope, and all people who doesn’t imagine in Africa ought to come right here. Visiting right here offers you extra hope as a result of that is precisely what our continent ought to give attention to,” Touray stated.
“We’ve got seen one thing I couldn’t have imagined, and actually, the capability in all areas is spectacular. We congratulate Alhaji Dangote for this belief in Africa as a result of I believe you do that solely when you’ve got the belief, and he has a imaginative and prescient for Africa, and that is what we must always all work to encourage.”
Touray additionally praised the refinery’s Euro V customary gas, saying it meets ECOWAS’ 50ppm sulphur restrict, in contrast to many substandard imports that pose well being and environmental dangers.
“We’re nonetheless importing merchandise under our customary when a regional firm resembling Dangote can meet and exceed these necessities. The non-public sector should take the lead in ECOWAS industrialisation,” he stated.
He known as for stronger cooperation between governments and industrialists, urging insurance policies knowledgeable by real-world enterprise situations.
“We can not proceed to make selections on behalf of the non-public sector from a distance. Visits like this present us with first-hand expertise and direct perception into the challenges they face, challenges that authorities and authorities officers should work to deal with,” Touray added.
The ECOWAS chief stated industrialisation was key to fixing youth unemployment, poverty, and insecurity, promising full assist for Dangote to increase into regional markets.
“As soon as once more, I congratulate the Dangote Group and commit that the ECOWAS fee will do every thing to open up the ECOWAS marketplace for them, if not the complete African continent,” he acknowledged.
Touray was accompanied by high officers together with Commissioner for Infrastructure, Vitality and Digitalisation, Sediko Douka; Commissioner of Inner Companies, Prof. Nazifi Darma; Director of Non-public Sector/SME, Dr Tony Elumelu; and his Chief of Employees, Abdou Kolley.
