Dangote Petroleum Refinery & Petrochemicals, billionaire Aliko Dangote’s mega-refinery will be inaugurated this Monday, May 22 in Lagos. During this historic event, President Muhammadu Buhari will have his neighboring counterparts from Ghana, Togo, Senegal, Niger and Chad at his side. That of Benin has not been announced.
Postponed several times due to several factors including the coronavirus pandemic, the operationalization of billionaire Aliko Dangote’s oil refinery has finally been completed. Nigerian President Muhammadu Buhari is to inaugurate this Monday, May 22 in Ibeju-Lekki Lagos the mega-refinery which aims to have the largest refining capacity in Africa, and thus reduce Nigeria’s dependence on imported fuel.
The inauguration of this oil infrastructure, after years of delay, will take place a week before the departure of President Buhari, who is stepping down after two terms marked by a serious deterioration in the economic situation in Africa’s most populous country, or 215 million inhabitants.
Five African presidents join Buhari
For the occasion, the outgoing Nigerian President, Muhammadu Buhari, will be assisted by the President of Ghana, Nana Akufo-Addo, Faure Gnassingbé of Togo, Mahamat Déby of Chad, Macky Sall of Senegal and Mohamed Bazoum of Niger. President-elect Bola Ahmed Tinubu will also be present for the occasion, and Rwandan President Paul Kagame, who will not be physically present, will deliver his goodwill message virtually.
If Nana Akufo-Addo from Ghana and Faure Gnassingbé from Togo are already there according to the Nigerian media, no sign of the presence of Beninese President Patrice Talon has been seen. Benin is, however, a closer neighbor of Nigeria than these two other countries.
This refinery aims to process 650,000 barrels per day at full capacity, which would make it one of the largest industrial complexes on the continent, and could be a game-changer in Nigeria, but also in Nigeria’s neighbors including Benin. This sprawling complex also includes a $2 billion fertilizer plant with a capacity of 3 million tons per year.
The new facility is spread over 2635 hectares of land in the Lekki Free Zone. Its cost is estimated at 19 billion dollars, according to local media, against 9 billion dollars announced at the launch of the project.