… We’ve capability to satisfy ECOWAS’s petroleum wants – Dangote
Towering over the Lekki Free Zone on the sting of the Atlantic, the Dangote Petroleum Refinery is greater than only a feat of engineering; it has develop into an emblem of ambition, imaginative and prescient, and industrial self-reliance for a whole continent. Now, that promise has been affirmed by the area’s highest political and {economic} bloc, the {Economic} Neighborhood of West African States (ECOWAS).
Throughout a high-level go to to the state-of-the-art 650,000 barrels-per-day facility, the President of the ECOWAS Fee, H.E. Dr Omar Alieu Touray, declared the refinery a beacon of hope for Africa’s future, and a transparent demonstration of what the personal sector can obtain within the drive for regional industrialisation. The delegation additionally included ECOWAS Commissioner for Infrastructure, Power and Digitalisation, Sediko Douka; Commissioner of Inner Companies, Prof. Nazifi Abdullahi Darma; Director of Personal Sector/SME, Dr Tony Luka Elumelu; and Dr Touray’s Chief of Employees, Hon Abdou Kolley, amongst others.
“What I’ve seen right now provides me numerous hope, and everyone who doesn’t consider in Africa ought to come right here. Visiting right here gives you extra hope as a result of that is precisely what our continent ought to concentrate on,” Dr Touray remarked, visibly moved by the dimensions and class of the ability. “We have now 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 gotten the belief, and he has a imaginative and prescient for Africa, and that is what we should always all work to encourage.”
Dr Touray famous that the refinery, which produces gasoline to Euro V customary, is vital for enabling the ECOWAS area to satisfy its 50ppm sulphur restrict for petroleum merchandise—a typical many imported fuels fail to satisfy, posing well being and environmental dangers throughout member states.
“We’re nonetheless importing merchandise under our customary when a regional firm equivalent to Dangote can meet and exceed these necessities,” he stated. “The personal sector should take the lead in ECOWAS industrialisation.”
The ECOWAS Fee President used the go to to name for stronger collaboration between governments and the personal sector, stressing that coverage selections should mirror the actual challenges and alternatives skilled by African industrialists.
“We consider our go to additionally serves as a chance to listen to immediately from Mr Dangote, about what the personal sector expects from the ECOWAS neighborhood,” Dr Touray remarked, noting that as ECOWAS celebrates its fiftieth anniversary, the neighborhood is extra dedicated than ever to bringing the personal sector to the desk—to take heed to their views and to know how finest to create an surroundings that works for them.
“We can’t proceed to make selections on behalf of the personal 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 handle,” he added.
Dr Touray stated the time is ripe for the area to pursue an industrial technique able to addressing deep-rooted challenges equivalent to youth unemployment, poverty, and insecurity.
“We frequently discuss poverty eradication and youth employment, however the authorities alone might not have the capability to attain these objectives. Solely the personal sector can ship the dimensions of affect required, and it’s important that we take heed to them, perceive how these targets will be met, and determine the bottlenecks they face in order that they are often successfully addressed. That is the one life like path to creating jobs and fostering real prosperity throughout our economies.”
He pledged the Fee’s full help for enabling regional giants equivalent to Dangote Group to entry wider ECOWAS markets and urged different African nations to observe Nigeria’s instance by constructing infrastructure that serves the continent, not simply particular person nations.
“As soon as once more, I congratulate the Dangote Group and commit that ECOWAS Fee will do every little thing to open up the ECOWAS marketplace for them, if not your complete African continent.”
President of Dangote Group, Aliko Dangote, led the ECOWAS delegation on an in depth tour of the ability, explaining the challenges and milestones concerned in bringing the world’s largest single-train refinery to life.
He reiterated his longstanding place that Africa’s continued dependence on imported items is unsustainable and hinders {economic} sovereignty.
“So long as we proceed importing what we will produce, we’ll stay underdeveloped,” Dangote stated. “This refinery is proof that we will construct for ourselves at scale, to world requirements.”
He famous that the Dangote Refinery is totally geared up to satisfy the petroleum wants of Nigeria and your complete West African area, countering claims that the ability wouldn’t produce sufficient for native and regional demand.
“There have been many claims suggesting that we don’t even produce sufficient to satisfy Nigeria’s wants, so how might we presumably provide different West African nations? However now, they’re right here to see the fact for themselves and, extra importantly, to encourage different nations to embark on equally large-scale industrial initiatives,” he stated.
Noting that Africa will profit significantly by encouraging commerce amongst its nations, particularly by way of worth addition to the continent’s ample assets, Dangote burdened how the refinery has helped Nigeria to deliver down the price of refined merchandise and manufacturing prices throughout many sectors of the financial system.
“Final yr, after we started diesel manufacturing, we have been in a position to scale back the worth from N1,700 to N1,100 at a go, and as of right now, the worth has crashed additional. This discount has made a major affect throughout varied sectors. It has supported industries, benefited these of us in mining, and supplied very important aid to the agricultural sector. The impact has been far-reaching,” he stated.
He additionally famous that Nigerians are benefiting from native refining as the worth of petrol has dropped considerably in comparison with neighbouring nations.
“In neighbouring nations, the typical worth of petrol is round $1 per litre, which is N1,600. However right here at our refinery, we’re promoting at between N815 and N820. Many Nigerians don’t realise that they’re presently paying simply 55% of what others within the area are paying for petrol. We even have a a lot bigger initiative within the pipeline, one thing we’ve not but introduced however Nigerians ought to know that this refinery is constructed for them, and they’ll benefit from the most profit from it,” he stated.
He emphasised that this worth discount is a direct results of native refining, which continues to enhance gasoline affordability whereas enhancing vitality safety and lowering dependence on imports.
