x

Dangote refinery to begin production in third quarter of 2022

Aliko Dangote, chairman of Dangote Group and Africa’s richest person, says the refinery will begin processing crude by the third quarter of 2022.

According to Bloomberg, the business mogul said mechanical work on the refinery is done, and “hopefully before the end of the third quarter we should be in the market”.

He said this during a briefing at the plant site in Lagos.

Dangote said the plant would start with a processing capacity of 540,000 barrels per day.

“Full production can start maybe, by the end of the year or beginning of 2023,” he said.

Dangote Petroleum Refinery is a multi-billion dollar project that will create a market for $11 Billion per annum of Nigerian Crude.

The facility, which cost an estimated $19 billion to build, has an installed capacity of 650,000 barrels per day.

It is expected to be Africa’s biggest oil refinery and one of the world’s biggest single-train facilities, upon completion.

Its output will be more than enough to meet Nigeria’s fuel demands and turn Africa’s largest crude producer into an exporter of refined crude.

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), had said that Nigeria will save 40 percent of its foreign exchange (FX) earnings refinery and petrochemical Plant begins operations in the year.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalist As...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Advancing China-Africa Relations: Second Post-FOCAC Forum Holds in Abuja

The Centre for Contemporary Africa-China Research in Nigeria on...

Kaduna: Security Operatives Raid Hotels, Arrest Dozens of Suspects

By Achadu Gabriel, Kaduna Security operatives, suspected to be members...

17 States Set to Celebrate Olympic Day Across Nigeria on June 28

As the June 28, 2025, Olympic Day approaches, 17...

Kaduna: Family Planning Commodity Campaign Hits the Streets

…Mega Hospital agents spotted By Idibia Gabriel, Kaduna Medical workers in...

Portable Slams Bobrisky Over Name Change, Dares Him to Boxing Match

Controversial Nigerian singer, Habeeb Olalomi Badmus, popularly known as...

JUST IN: FIRS Becomes NRS as Tinubu Signs Landmark Tax Reform Bills into Law

President Bola Tinubu has signed into law four landmark...
spot_img

Related Articles

Popular Categories

spot_imgspot_img