Nigeria: Dangote Refinery Will Save Nigeria of $10bn - Minister

Photo: Dangote
Dangote group.
15 December 2019

The Dangote Refinery would save the country of $10 billion spent on crude importation when it comes on stream, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said on Sunday

She also said the refinery would create thousands of jobs for Nigerians when it becomes operational.

The minister, who disclosed this when she was conducted round the ongoing Dangote Petroleum Refinery, Petrochemical complex, fertilizer plant and Subsea gas pipeline projects, said the government would continue to provide an enabling environment for local businesses to grow.

Ahmed said: "We are very confident that once Dangote refinery commences operation it will save us over $10 billion Nigeria spent on importing crude oil and also help to build local capacity and create jobs. The money we save will help to strengthen our macroeconomy and this will, in turn, encourage investors to come in.

The minister, who also inspected the ongoing Apapa-Oshodi-Ojota-Oworonsoki Expressway project, however, assured the Dangote Group of the Federal Government support in ensuring the successful take-off of the project.

She added: "We are going to be providing some intervention in the area of duty and some tax waver which is available to every organization in that sector and part of my visit is to see the benefit of incentive we have been providing.

The President of Dangote Group, Aliko Dangote, said grow the company revenue from $4 billion to $30 billion and create massive employment opportunities for Nigerians when completed next year.

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