8 February 2019

Nigeria: 'Completion of Dangote Refinery Will Help Africa's Sloppy Economy'

Nigeria and other African countries will soon heave a sigh of relief from the sloppy economic situation occasioned by price instability with the imminent completion of the Dangote Refinery and other modular refineries in Nigeria, the Dangote Group said yesterday.

Already, the President of Ghana, Nana Akufo-Addo, at a forum in Egypt, said his country was anxiously waiting for the readiness of the Dangote Refinery to save his government from economic distortion caused by massive importation of petroleum from Europe.

The Technical Adviser on Refinery and Petrochemicals to the President of Dangote Group, Engr. Babajide Soyode, said the completion of the Dangote Refinery and other modular refinery projects in Nigeria would culminate in the integration of the downstream industries, lower cost of business and stabilise the prices of petroleum products across Africa.

Engr. Soyode made this assertion during a panel session on "Refining, Transportation and Petrochemicals Forum" at the just concluded 2019 Nigeria International Petroleum Summit in Abuja.

He emphasised the need for the Federal Government to fully deregulate the downstream sector.

He said "by the time Dangote completes the largest single train-refinery, in addition to what other investors are doing, Nigeria will have more than enough petrol for domestic use and for export."

Nigeria

Vote Counting Begins in Nigeria's Delayed Presidential Election

Observers say Saturday's vote to re-elect Muhammadu Buhari or his main rival Atiku Abubakar is too close to call. The… Read more »

See What Everyone is Watching

Copyright © 2019 Daily Trust. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.