Dangote $18B Refinery which Africa’s Richest man say is more than 8 times the size of Victoria Island received an important pledge of support from the Nigerian government on monday. During a facility tour of the refinery on Monday, Dr Ibe Kachikwu, Minister of State for Petroleum Resources, promised adequate government incentive support to the $18 billion Dangote refinery to fast track its completion in Lagos.
Recall that Africa’s richest man Aliko dangote recently gave some insights into the size of his Lagos State-sited refinery which he claims to be 8 times bigger than victoria island, also in Lagos. Dangote said:
“you wont appreciate the size of the place, maybe because you have not gone round, some of you. but this place is actually eight times victoria island, that is to give you the concept. the entire victoria island, you get eight times of it here, so that is how big it is.”
Dangote refinery is situated at Lekki Free Trade Zone in Ibeju Lekki, Lagos.
According to him, the Federal Government will support it through policies that will liberalise the market.
He urged Dangote to speed up completion of the refinery to come on stream before 2019, to promote effective downstream sector.
He charged the management of the company to involve tertiary institutions in its operations, to build capacity among students studying oil and gas related courses to have some experience on refinery operations.
Kachikwu commended Dangote for the project, while assuring of total support in promoting the success of the project. Kachikwu also commended the management for ways local communities were engaged and carried along. He urged other companies to emulate the company.
Alhaji Aliko Dangote said that the Dangote Refinery would save the country over $7.5 billion annually through import substitution with the creation of about 4,000 direct and 145,000 indirect jobs.
He also said:
‘‘As you are aware, we are currently building the world’s largest single line Refinery, Petrochemical Complex and the world’s second largest Urea Fertiliser plant. The refinery will have the capacity to refine 650,000 barrels of crude oil per day while the petrochemical plant will produce 780 KTPA Polypropylene, 500 KTPA of Polyethylene while the fertiliser project will produce 3.0 million metric tonnes per annum of Urea.”
Dangote said that the company also plans to build the largest sub-sea pipeline infrastructure in any country in the world, with a length of 1,100km, to handle three billion SCF of gas per day.
According to him, Dangote also plans to construct a 570 MW power plant in the complex and gas from its pipeline will augment the natural domestic gas supply with an additional 12,000MW of power generation added to the grid.