Chairman of Dangote Group and Africa’s richest person, Aliko Dangote says Dangote refinery will begin production in 2022 third quarter.
Gatekeepers News reports that Dangote says the refinery will begin processing crude by the third quarter of 2022.
According to Bloomberg, the Chairman of Dangote Group said mechanical work on the refinery is done, and “hopefully before the end of the third quarter we should be in the market”.
The business mogul revealed this during a briefing at the plant site in Lagos, Southwest Nigeria.
He added that 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 stated.
Dangote Petroleum Refinery is a multi-billion dollar project that will create a market for $11 Billion per annum of Nigerian Crude. The cost of building the facility is estimated at $19 billion and it 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.
Centre for the Promotion of Private Enterprise (CPPE), an economic advocacy group, has identified it as one of the key expected drivers of growth that would impact positively on the downstream sector of the Nigerian economy in 2022.
The African Petroleum Producers Organisation (APPO) also said its establishment will bring about a 36 percent reduction in the importation of petroleum productions into the continent.
See photos of its final stage here.
