• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 29, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Nigeria will save $3bn yearly from importation with Dangote refinery

Refinery

The Matters Press by The Matters Press
May 24, 2023
Reading Time: 1 min read
0
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%

Governor Godwin Obaseki of Edo, on Tuesday, said that the newly-inaugurated 650,000 barrels per day (bpd) Dangote Refinery and Petrochemical Company will save Nigeria over $3 billion annually from importation of petroleum products.

RELATED POSTS

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

Tinubu succeeding where Obasanjo failed woefully, says TMSG

Obaseki, in a statement made available to newsmen in Benin, said that the refinery was a game changer for Nigeria, adding that it had opened a new vista of opportunity for the nation’s economy.

He commended the ingenuity, dexterity and inimitable entrepreneurial spirit of the President of Dangote Group, Alhaji Aliko Dangote.

“The petroleum refinery, with capacity to process 650,000 barrels per day (bpd) is sitting on 2,635 hectares of land, located in the Dangote Industries Free Zone in Ibeju-Lekki, Lagos, and will provide employment for more than 100,000 people.

“Beyond the commissioning, the fact that we have finally got to the position where we can begin to refine products, particularly petrol and diesel locally, is a breakthrough.

“What this means is that we will be saving up to three billion dollars in a year for not importing petroleum products.

“That’s more than the amount we spend today on all our infrastructure, education and health. That sort of money is coming back to the government for growth.

“But beyond this, there is the certainty of supply and capacity to not only produce for your market but to be able to export to the rest of the continent.

“And, not just importing the kind of products you used to import, you are now processing and refining better quality products of international standard,” he said.

The governor said that before now, the bulk of what used to be brought to the country was low grade, thus affecting the vehicles using the petroleum products.

“Today, we are producing something that is of international grade and you can now sell the end-product,” he said.

Tags: Refinery
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria regains top crude oil production spot in Africa
Energy

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

August 28, 2025
Who is lying, Obasanjo or NAN?
News

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

August 28, 2025
Obasanjo campaigns for AfCFTA
News

Tinubu succeeding where Obasanjo failed woefully, says TMSG

August 28, 2025
Tinubu explains mission as he marks second year in office
Economy/Technology

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

August 9, 2025
Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Next Post
Nigeria’s N225bn bonds oversubscribed

Lagos state raises N143.8bn long-tenure bonds

IFC to invest $17.5m in mega mixed-use complex in Kigali

IFC to invest $17.5m in mega mixed-use complex in Kigali

Recommended Stories

Scheme to repatriate $200bn in forex requires right mechanisms

Tinubu soon implement strategy to improve foreign exchange liquidity

October 24, 2023
Nigeria loses $25b to foreign ship owners

Petrol among goods in 20 ships expected at Lagos ports

February 13, 2022
Death toll in building collapse hits 36 as governor sets up probe panel

Lagos Venture Capital Inflow Increases By 120%

December 13, 2022

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • ‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals
  • ‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient
  • Tinubu succeeding where Obasanjo failed woefully, says TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us