Dangote Refinery impacting all sectors of Nigerian economy –Crude Sales Committee

*The Technical Committee of the One-Stop Shop for sale of crude and refined products in Naira initiative describes the Dangote Petroleum Refinery & Petrochemicals as a breath of fresh air, impacting virtually every sector of the Nigerian economy

Isola Moses | ConsumerConnect

The $20 billion Dangote Petroleum Refinery & Petrochemicals Limited has been hailed as a symbol of industrial revolution, driving Nigeria’s economic emancipation.

The Technical Committee of the One-Stop Shop (OSS) for sale of crude and refined products in Naira initiative gave this commendation Tuesday, June 17, 2025, during a tour of the facility, in Lagos.

Dangote Group stated Mrs. Maureen Ogbonna, Coordinator of the OSS Technical Committee, who led the delegation, described the refinery as a breath of fresh air, impacting virtually every sector of the economy.

Ogbonna said: “This refinery touches all our lives. There’s scarcely any sector unaffected.

“From pharmaceuticals to construction, food to plastics, this project is transformational.

“God has used the President of the Dangote Group to liberate Nigeria. I see this as the beginning of an industrial revolution.”

According to the Committee, in line with President Bola Ahmed Tinubu’s vision of achieving full domestic sufficiency in petroleum products and positioning Nigeria as a major global exporter, it is committed to eliminating regulatory, operational and logistical barriers that hinder the smooth supply and sale of domestic crude oil and refined products in Naira.

As regards the scale and sophistication of the oil-refining facility, the Coordinator of the OSS Technical Committee, who had visited during construction, and more recently alongside the leadership of the Nigerian Ports Authority (NPA), expressed awe at its execution.

She also stated: “It is truly mind blowing that one man could envision and execute such a project.

“As we toured the refinery, we thought we had seen everything until we reached the laboratory. That lab alone is an institution.

“I don’t know of any institution in Nigeria or even globally that boasts such a laboratory for petrochemical.”

Ogbonna again, applauded the engineering feat.

She urged Dangote to remain focused and undeterred by detractors, emphasising that the project is a global achievement, not a personal enterprise.

The Coordinator asserted: “We feel truly honoured to have been warmly received by the President of the Dangote Group and his team.

“My advice to him is: do not be discouraged by critics. He was never self centred.

“Despite the obstacles, he was driven by a vision for Nigeria’s future, reaching far beyond Africa.”

Responding to Ogbonna’s remarks, Alhaji Aliko Dangote, President/Chief Executive of Dangote Group, applauded the Technical Committee for supporting the implementation of President Tinubu’s laudable Naira-for-Crude initiative.

Dangote commended the positive impact of the naira-for-crude swap deal on the Nigerian economy, noting that it has led to a reduction in petroleum product prices, eased pressure on the Dollar, and ensured the stability of the local currency, among others.

However, he noted that due to a shortage of domestic crude oil, the refinery has increasingly relied on imports from the United States to meet its needs in recent months.

He further stressed the importance of bold investment in strategic sectors as a key to industrialisation, revealing that building the refinery required extensive infrastructure development, including a world-class, self-sufficient marine facility capable of accommodating the largest vessels globally.

He assured the delegation of the refinery’s commitment to national development.

Designed to process a wide range of crude types including African and Middle Eastern grades as well as US Light Tight Oil, the refinery has the capacity to meet one hundred per cent of Nigeria’s domestic demand for petrol, diesel, kerosene and aviation jet fuel, with a surplus available for export.