Dangote new refinery
You're referring to the Dangote Refinery, a massive oil refinery project being developed by the Dangote Group, a Nigerian multinational conglomerate founded by Aliko Dangote.
Here are some key facts about the Dangote Refinery:
Location: The refinery is being built in the Lekki Free Trade Zone, Lagos, Nigeria.
Capacity: The refinery will have a capacity to process 650,000 barrels of crude oil per day, making it one of the largest single-train refineries in the world.
Products: The refinery will produce a range of petroleum products, including:
- Gasoline (PMS)
- Diesel (AGO)
- Jet Fuel (JET-A1)
- Liquefied Petroleum Gas (LPG)
- Petrochemicals (such as polypropylene and polyethylene)
Investment: The project is estimated to cost around $12 billion, making it one of the largest investments in the Nigerian oil and gas sector.
Timeline: The refinery is expected to be completed by 2023, with a phased commissioning schedule.
Benefits: The Dangote Refinery is expected to have several benefits for Nigeria, including:
- Reduced dependence on imported petroleum products
- Creation of thousands of jobs during construction and operation
- Increased government revenue from taxes and royalties
- Improved energy security and reduced energy costs for consumers
- Enhanced economic growth and development
Challenges: Despite the significant benefits, the project has faced some challenges, including:
- Delays in land acquisition and environmental impact assessments
- Funding constraints and debt financing issues
- Competition from other refineries in the region
- Potential environmental and social impacts of the project
Overall, the Dangote Refinery is a significant project that has the potential to transform the Nigerian oil and gas sector and contribute to the country's economic growth and development.