‘Dangote refinery will make Nigeria net exporter of petroleum’

Mkpoikana Udoma

Port Harcourt — The Presidential Candidate of the Labour Party in the 2023 election, Mr. Peter Gregory Obi, says Dangote refinery will be beneficial to Nigeria’s economy, as it will move the country from a net importer to a net exporter of petroleum products.

Obi who was an invited guest at the commissioning ceremony of the 650,000 barrels per day refinery, said refining of crude oil in-country and exporting the excess will move the country from consumption to production, an idea which he has always promoted.

The former Anambra State Governor in his verified Facebook handle, commended the Chairman of Dangote Group, Alhaji Aliko Dangote, for the world-class project and expressed optimism that the refinery will meet Nigeria’s domestic petroleum demand.

He said, “The refinery with a capacity of 650,000 barrels of crude oil per day when operated maximally, is expected to meet Nigeria’s domestic demand for petroleum products and help Nigeria to save the much-needed foreign exchange currently spent on the importation of such products.

“By supplying the surplus to the International markets, Nigeria will reposition itself as a key player in the downstream petroleum sector of the global market. In moving Nigeria from consumption to production,

“I have always argued for greater private sector participation in the economy as exemplified by the Dangote Group. I believe the Dangote Refinery will be very beneficial to the nation’s economy.

“By moving Nigeria from a net importer to a net exporter of petroleum products, this refinery will create numerous jobs and generate needed foreign exchange inflow.

“This refinery is another milestone towards the New Nigeria, to which I am committed. That new nation will be an enabling environment for a booming private sector that will see the rise of many micro, small and medium-scale businesses that will boost the nation’s economy and foster increased productivity among our people.”