Oil & Gas

Dangote Debunks Inaugurating Refinery On January 24

Ola ‘Kiya, Reporting

DANGOTE Industries Ltd, on Saturday, debunked the report doing the round that President Muhammadu Buhari will be inaugurating the Dangote Refinery on January 24, 2023.

This was reportedly disclosed in a screenshot, saying the report on social media stating that the refinery would be inaugurated on the said date was fake.

News That We're Inaugurating Refinery On January 24 False – Dangote

Dangote refinery

The post on the false news was first shared by a Twitter user, Mohammed Jammal with the handle @whitenigeia on Friday which trended for many hours.

Some online media had also gone to town with the narrative that President Muhammadu Buhari was billed to inaugurate the 650,000 barrels per day (bpd) Dangote refinery on January 24.

Stonix News reports that the Integrated Refinery and Petrochemical complex located at the Lekki Free Zone near Lagos, Nigeria, will produce Euro-V quality gasoline and diesel, jet fuel and polypropylene, and will likely generate 4,000 direct and 145,000 indirect jobs.

It is expected to double Nigeria’s refining capacity and help in meeting the increasing demand for refined petroleum products while providing cost and foreign exchange savings.

The refinery is also estimated to have an annual refining capacity of 10.4 million tonnes of petrol.

The World Bank has said that the Dangote refinery is expected to boost Nigeria’s external earnings by drastically reducing imports of fuel, contributing to the regional supply of petroleum products.

The bulk of the crude for the refinery operations is expected to come from Nigeria, given that the Nigerian National Petroleum Company Ltd (NNPC) holds a 20 per cent stake in the company on behalf of the federation.

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