The ongoing
investment in refining, petrochemicals, fertilizer and gas is driven by the
desire to bring innovation and efficiency into all aspects of Nigeria’s oil and
gas sector, the President/Chief Executive, Aliko Dangote has said.
Dangote, who made this disclosure yesterday at the ongoing Nigeria
International Petroleum Summit in Abuja, said the company is committed to the
concept of energy efficiency and innovation in the oil and gas sector.
The business mogul, whose 650,000 barrels-per-day capacity refinery is the
largest in Africa, was represented by the Group Executive Director, Government
and Strategic Relations, Dangote Industries Limited (Dangote.com),
Engr. Ahmed Mansur.
Addressing participants at the forum, Mansur said the theme of the conference,
“Shaping the Future through Efficiency and Innovation”, was quite apt; given
Nigeria’s quest for economic transformation.
According to him, Aliko Dangote is passionate about efficiency and innovation
in the oil & gas sector through adding value to the hydrocarbon process.
Mansur said the company’s passion and drive is seen in the building of the
project, which will become the world largest single train refinery on
completion and therefore a boost to Nigeria’s economy.
He stated: “The Refinery can meet 100% of the domestic requirement of all
liquid petroleum products (Gasoline, Diesel, Kerosene and Aviation Jet),
leaving the surplus for export.
“This high volume of PMS output from the Dangote Refinery will transform
Nigeria from a petrol import-dependent country to an exporter of refined
petroleum products. The refinery is designed to accommodate multiple grades of
domestic and foreign crude and process these into high-quality gasoline,
diesel, kerosene, and aviation fuels that meet Euro V emissions specifications,
plus polypropylene”, he said.
Mansur disclosed that Dangote is also constructing the largest fertiliser Plant
in West Africa with capacity to produce 3.0 million tonnes of Urea per year as
part of the gigantic economic transformation project. He explained that the
Dangote Fertiliser complex consists of Ammonia and Urea plants with associated
facilities and infrastructure.
“Nigeria will be able to save $0.5 billion from import substitution and provide
$0.4 billion from exports of products from the fertiliser plant. Thus, supply
of fertiliser from the plant, which is set for commissioning before the second
quarter of 2019, will be enough for the Nigerian market and neighbouring
countries,” he added.
Speaking further, he said at a time when the oil and gas industry and the
global economy is in a state of flux, it is most appropriate that attention
should be given to the future especially given the incredible speed and quantum
of change taking place in every facet of human endeavour.
“Our economy in particular cannot afford to ignore these massive changes. Our
decades of dependence on this industry for our economic well-being and the
urgent need for diversification has been widely recognised and is clearly the
most critical challenge for our policy makers.
“But even as we seek to diversity from oil, and we are, indeed, making
observable progress in this regard, we cannot ignore the need to continue to
exploit this God-given resources in a more efficient and innovative manner,” he
added.
He commended the Management of the Nigerian National Petroleum Corporation
(NNPC) for its unwavering support in Dangote’s quest to make Nigeria
self-sufficient in the production of petroleum products.
Distributed by APO Group
