Facts About Dangote Refinery.

The richest black man in the world, Alhaji Aliko Dangote commenced the construction of his oil refinery and fertilizer plant, at Ibeju-Lekki area of Lagos State, in 2015 and it's predicted to be completed by 2020.

Operations are likely to be begin by 2021. The refinery is located in the Lekki Free Trade Zone, and linked towards the Atlantic ocean.

It is predicted to be the sixth largest refinery in Africa.




It's also predicted to have a daily oil production capacity of 650,000 barrels.

Alhaji Dangote had also built a jetty to receive heavy equipment in the construction of the refinery.

A sum of $18billion is the estimated investment on the refinery.

 The Refinery and Petrochemical project is expected to generate 9,500 direct jobs and  over 25,000 indirect jobs.

The processing facilities include Crude Distillation Unit (CDU), Mild Hydrocracking Unit, Naptha Hydrotreater etc.





It's predicted to boost the domestic refined oil production and reduce the level of oil Importation into the country.

It will also increase the Petroleum Profit Tax of the federal government.

The project was financed with $3billion equity and $9 billion loan. A team of local and International banks led by Standard Chartered Bank provided $3.3billion loan facility.

The products of the refinery will include; 10.4 million tones of gasoline, 4.6 million tones of diesel, 4million tines of jet fuel.

It will also produce 32,000tones of Sulphur, likewise polypropylene, carbon black feed and propane.

The project had driven other investments into Ibeju-Lekki area of Lagos, most especially, Real Estate development.

Real Estate companies are now investing in the area for the purpose of providing easy accommodation for the refinery workers.



Comments

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