Nigeria’s Dangote Refinery to Generate Significant Annual Crude Returns

SEATTLE (Oil Monster): The African country of Nigeria is expected to generate annual crude returns of approximately $21 billion from Dangote Refinery. The estimates were provided by Aliko Dangote, Chairman of the refinery, in presence of minister of State for Defence, Bello Matawalle during his visit to the refinery last week.

Dangote reiterated his commitment to support Nigeria’s economic growth. The refinery activities will lead to improved life for the local population and better job opportunities for the Nigerian youth. The refinery will meet 100% of the country’s refined product requirements, he added.

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The Minister commended Dangote’s resolve to make bold investments in the sector. He highlighted the huge positive impact these investments would have on the country’s population. The federal government is committed to securely protecting and safeguarding such vital investments, especially in the context of the refinery’s contributions to economic growth and employment. Furthermore, he reiterated the government’s commitment to ensure maximum security surrounding the refinery facilities.

The multibillion-dollar Dangote Refinery in Lekki, Nigeria is the largest in Africa and has a capacity to process around 650,000 barrels per day of crude oil.