{"id":2592,"date":"2026-07-30T23:52:02","date_gmt":"2026-07-30T23:52:02","guid":{"rendered":"https:\/\/consumerconnectng.com\/?p=2592"},"modified":"2026-07-31T00:36:50","modified_gmt":"2026-07-31T00:36:50","slug":"dangote-refinery-critical-to-attainment-of-nigerians-1trn-economy-government","status":"publish","type":"post","link":"https:\/\/consumerconnectng.com\/?p=2592","title":{"rendered":"Dangote Refinery critical to attainment of Nigerian\u2019s $1trn economy &#8211;Government"},"content":{"rendered":"<p>*<strong><em>The Federal Government hails Dangote Petroleum Refinery and Petrochemicals, in Lagos, as a symbol of Nigeria\u2019s Industrial Renaissance, as Dangote affirms that manufacturing remains the fastest route to job creation and national prosperity<\/em><\/strong><\/p>\n<p>Isola Moses | ConsumerConnect<\/p>\n<p>The Federal Government has described the Dangote Petroleum Refinery and Petrochemicals, in Lagos, as a cornerstone of Nigeria\u2019s ambition to build a $1 trillion economy.<\/p>\n<p>The Nigerian Government pledged deeper collaboration with the private sector to accelerate industrialisation, job creation and economic transformation in the country.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"RO6DEGE6Z8\"><p><a href=\"https:\/\/consumerconnectng.com\/?p=2596\">NITDA rallies stakeholders to explore emerging techs for inclusive growth in Nigeria<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u201cNITDA rallies stakeholders to explore emerging techs for inclusive growth in Nigeria\u201d \u2014 Consumer Experience Is A Top Priority\" src=\"https:\/\/consumerconnectng.com\/?p=2596&amp;embed=true#?secret=0WCCkIPCst#?secret=RO6DEGE6Z8\" data-secret=\"RO6DEGE6Z8\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>Senator John Owan Enoh, Minister of State for Industry, Trade and Investment, made the declaration Wednesday, July 29, 2026, after leading a high-level delegation from the Ministry on an extensive tour of the 700,000 barrels-per-day Dangote Petroleum Refinery, Dangote Petrochemicals complex and Dangote Fertiliser Limited in Lagos.<\/p>\n<p>The Minister described the integrated industrial complex as one of the most significant investments in Africa and a model for the type of industrial development required to drive Nigeria\u2019s economic growth aspirations.<\/p>\n<p>According to Enoh, the visit further reinforced the central role of large-scale manufacturing in the successful implementation of the Nigeria Industrial Policy, unveiled earlier this year.<\/p>\n<p>The company also stated Senator Enoh said: \u201cYou cannot be Minister in charge of Industry and not visit the Dangote Refinery.<\/p>\n<p>\u201cThis facility matters because of what it represents for Nigerian industry, for our people and for the realisation of President Bola Tinubu\u2019s vision of a one trillion-Dollar economy.\u201d<\/p>\n<p>He said the Refinery has emerged as a powerful symbol of value addition, industrial competitiveness and Nigeria\u2019s growing manufacturing capability.<\/p>\n<p>\u201cThe more a country adds value to its products, the more respect it earns globally.<\/p>\n<p>\u201cThe Dangote Refinery stands today as one of the strongest demonstrations of that principle,\u201d he said.<\/p>\n<p>The Minister noted that the refinery has fundamentally changed global perceptions of Nigeria by helping to transform the country from a major importer of refined petroleum products into an exporter serving international markets.<\/p>\n<p>He stated: \u201cWhen global supply disruptions occurred, Nigeria was able to export petroleum products to markets in the Middle East and beyond.<\/p>\n<p>\u201cThat is an extraordinary achievement and one that deserves recognition.\u201d<\/p>\n<p>Enoh, who was accompanied by directors, regulators and heads of agencies under the Ministry, said the delegation gained a deeper appreciation of the scale, technological sophistication and strategic importance of the facilities.<\/p>\n<p>\u201cI brought members of my team here because I wanted them to see firsthand what this investment represents. It has been a humbling and enlightening experience. We leave with greater knowledge and an even stronger commitment to supporting industrial development in Nigeria.\u201d<\/p>\n<p>He also dismissed concerns over the refinery\u2019s single-train configuration, noting that operations remained uninterrupted even during maintenance activities.<\/p>\n<p>\u201cThe issues surrounding the single-train configuration are much clearer now. Even during scheduled maintenance, operations continued,\u201d he said.<\/p>\n<p>The Minister pledged that the Ministry and its agencies would remain strong advocates of the refinery and the broader industrialisation agenda, adding that the government would continue to engage Dangote Industries Limited through the Industrial Revolution Work Group and ministerial roundtables to address challenges facing manufacturers, particularly access to affordable long-term financing.<\/p>\n<p>He further commended Aliko Dangote for supporting the launch of the Nigeria Industrial Policy, describing him as \u201cNigeria\u2019s foremost industrialist\u201d whose contributions would be vital to achieving the country\u2019s manufacturing targets.<\/p>\n<p>The policy aims to increase manufacturing\u2019s contribution to Nigeria\u2019s Gross Domestic Product (GDP) to approximately 20 per cent by 2030 and 25 per cent by 2035.<\/p>\n<p>\u201cWe want to be judged by the extent to which we implement this policy. Achieving these targets will require a strong partnership between government and industry leaders like Aliko Dangote,\u201d Enoh stated.<\/p>\n<p>Speaking during the visit, President and Chief Executive of Dangote Industries Limited, Aliko Dangote, urged the Federal Government to place industrialisation at the centre of its economic strategy, insisting that no nation has attained prosperity without a strong manufacturing base.<\/p>\n<p>\u201cThere is no way to create jobs and prosperity without industrialisation.<\/p>\n<p>\u201cThe greatest attraction for foreign investors is the success of domestic investors.<\/p>\n<p>\u201cWhen local investors thrive, they send a powerful signal that the environment is conducive for investment.\u201d<\/p>\n<p>The industrialist revealed that Dangote Industries recently raised an unsecured and unrated bond at rates below Nigeria\u2019s sovereign benchmark, demonstrating growing investor confidence in credible Nigerian private-sector institutions.<\/p>\n<p>According to him, the successful fundraising underscores the ability of Nigerian companies to mobilise long-term capital when supported by stable and predictable government policies.<\/p>\n<p>Dangote also praised Senator Enoh\u2019s dedication to industrial development.<\/p>\n<p>\u201cWe have worked with many Ministers of Industry over the years, but I can confidently say that his commitment is exceptional.<\/p>\n<p>\u201cHis ministry will play a critical role in attracting investment, creating jobs and driving the President\u2019s one trillion-dollar economy agenda.\u201d<\/p>\n<p>He emphasised that policy consistency remains the most important factor in attracting investment, stressing that frequent policy reversals undermine investor confidence more than the absence of incentives.<\/p>\n<p>Reflecting on the refinery project, Dangote described it as the biggest business risk of his life, recalling how many financiers doubted the project would ever be completed.<\/p>\n<p>Despite challenges ranging from the COVID-19 pandemic and foreign exchange volatility to skepticism from lenders, he said the successful delivery of the refinery demonstrates the capacity of Nigerian entrepreneurs to execute projects of global significance.<\/p>\n<p>\u201cWhat we have achieved here has never been done before on this scale. Once one person succeeds, many others will be encouraged to follow,\u201d he said.<\/p>\n<p>Dangote disclosed that the refinery, at full capacity, will account for the equivalent of about 10 per cent of the United States\u2019 refining capacity and consume approximately 2.5 per cent of globally traded crude oil.<\/p>\n<p>He urged government to continue supporting indigenous investors, describing them as the country\u2019s most important drivers of employment, foreign exchange generation and long-term economic resilience.<\/p>\n<p>\u201cIf Nigeria is to achieve sustainable growth and become a trillion-dollar economy, industrialisation must be the foundation. Indigenous investors remain the strongest catalysts for that transformation,\u201d Dangote stated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>*The Federal Government hails Dangote Petroleum Refinery and Petrochemicals, in Lagos, as a symbol of Nigeria\u2019s Industrial Renaissance, as Dangote affirms that manufacturing remains the&hellip;<\/p>\n","protected":false},"author":2,"featured_media":2606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"_FSMCFIC_featured_image_caption":"L-R: Group Vice-President, Oil &amp; Gas, Dangote Industries Limited; Devakumar Edwin; Niger State Governor Mohammed Umar Bago; Honourable Minister of State for  Industry, Senator John Owan Enoh; President\/CE, Dangote Industries Limited, Aliko Dangote; Managing Director\/ CEO, Dangote Petroleum Refinery, David Bird; During the Minster and Niger State Governor Visit to Dangote Petroleum Refinery and Petrochemicals, Fertiliser Plant, Ibeju-Lekki, in Lagos       Photo: DIL","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","_customify_content_layout":"","_customify_sidebar":"","_customify_page_header_display":"default","_customify_disable_header":"","_customify_disable_header_top":"","_customify_disable_header_main":"","_customify_disable_header_bottom":"","_customify_disable_page_title":"","_customify_disable_content_vertical_padding":"","_customify_disable_footer_top":"","_customify_disable_footer_main":"","_customify_disable_footer_bottom":"","_customify_breadcrumb_display":"","_customify_header_transparent_display":"default","footnotes":""},"categories":[20,3,4],"tags":[],"class_list":["post-2592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-highlights","category-infoeducation","category-markets"],"featured_image_urls":{"full":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dangote-Refinery-NW-cc.png",672,360,false],"thumbnail":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dangote-Refinery-NW-cc-150x150.png",150,150,true],"medium":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dangote-Refinery-NW-cc-300x161.png",300,161,true],"medium_large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dangote-Refinery-NW-cc.png",672,360,false],"large":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dangote-Refinery-NW-cc.png",672,360,false],"1536x1536":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dangote-Refinery-NW-cc.png",672,360,false],"2048x2048":["https:\/\/consumerconnectng.com\/wp-content\/uploads\/2026\/07\/Dangote-Refinery-NW-cc.png",672,360,false]},"author_info":{"info":["ConsumerConnect"]},"category_info":"<a href=\"https:\/\/consumerconnectng.com\/?cat=20\" rel=\"category\">Highlights<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=3\" rel=\"category\">InfoEducation<\/a> <a href=\"https:\/\/consumerconnectng.com\/?cat=4\" rel=\"category\">Markets<\/a>","tag_info":"Markets","comment_count":"0","_links":{"self":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/2592","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2592"}],"version-history":[{"count":2,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/2592\/revisions"}],"predecessor-version":[{"id":2612,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/posts\/2592\/revisions\/2612"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=\/wp\/v2\/media\/2606"}],"wp:attachment":[{"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2592"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2592"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/consumerconnectng.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2592"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}