In a landmark achievement for Nigeria’s energy sector, the Dangote Refinery, a $20 billion project spearheaded by billionaire industrialist Aliko Dangote, has officially commenced petrol production. This development is expected to alleviate the ongoing petrol scarcity that has plagued the country, bringing much-needed relief to millions of Nigerians.
During a press briefing on Wednesday, Aliko Dangote expressed his gratitude to President Bola Tinubu’s administration for fostering an environment conducive to the successful completion of the refinery project. He emphasized the transformative impact the refinery is expected to have on Nigeria’s economy and energy security.
“This refinery will fuel growth, development, and prosperity by supplying energy to our people,” Dangote remarked. He acknowledged the pivotal role of the Tinubu administration in creating the conditions necessary for this monumental achievement.
Dangote also praised the government’s “Naira for crude, Naira for product” initiative, which he believes will help stabilize the Naira by reducing the demand for foreign currency by 40%. The start of petrol production at the Dangote Refinery marks a significant step in addressing Nigeria’s long-standing fuel supply challenges and foreign exchange demands, paving the way for a brighter economic future for the nation.