Nigeria’s first oil refinery to begin operations

Nigerian President Muhammadu Buhari will commission the Dangote oil refinery in two weeks, setting up the plant for its first production since construction started in 2016, Reuters reported, citing a presidency spokesperson.

The federal government confirmed the planned inauguration of the 650,000-barrels-per-day refinery, before the president leaves office on May 22.

A source close to the plant said the company was putting the finishing touches for the inauguration, adding operations will be built up in phases.

Nigeria, Africa’s biggest oil producer, sees the refinery—being built by billionaire industrialist Aliko Dangote’s Dangote Group—as a solution to ending the country’s reliance on imports for nearly all of its refined petroleum products.

The Dangote refinery’s cost grew to $19 billion from initial estimates of between $12 billion and $14 billion, after years of delays.

Oil & Gas

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