The President of the Dangote Group, Aliko Dangote, has said that there will be a major shakedown in Nigeria’s oil sector very soon.
He recently shared that there will be an announcement of the shakedown when it happens.
Speaking during an interview with newsmen following the recent visit of President Bola Tinubu to the $20bn refinery in Lekki, Lagos, Dangote said that the total overhaul of the downstream sector is set to happen.
On the “big thing” he is planning for Nigerians with Dangote refinery, Aliko disclosed that the people will hear from his company very soon, especially after the President’s recent visit.
“Now that the President has visited and he has given us additional energy, we will inform you, you will hear from us soon, and that will be one of the major shakedowns in the entire country. It is not the reduction of price, it will be the total overhaul of the downstream,” he said.
Dangote, who stopped short of letting the cat out of the bag, maintained that his company would do amazing things with the refinery.
According to him, he told President Tinubu to expect Dangote group to go on a massive trajectory in ways Nigerians have never seen before, and by 2030, Dangote refinery will no longer be a major focus.
“I told the President that he had not seen anything yet, we are going on a massive trajectory, much more than what you have seen here. If you come back in the next five years, the refinery will be on the back burner,” Dangote said.
He further noted that the petroleum refinery was one of many strategic initiatives by the Dangote Group in support of the Federal Government’s Renewed Hope Agenda, which aims to reposition the country as a regional manufacturing hub.
He concluded by saying that his company’s investment in cement manufacturing made Nigeria self-sufficient in that sector, and it went a long way towards ending cement importation in the country.
“Our objective is to produce domestically those goods that have historically been imported, despite our abundant natural resources. It is on record that our investment in cement manufacturing made Nigeria self-sufficient in that sector, ending cement importation and turning the country into a net exporter.
We achieved the same in fertiliser production, as Nigeria is now self-sufficient and exports the surplus, thereby generating valuable foreign exchange. We have also commenced exportation of refined petroleum products to several countries, including the United States and Saudi Arabia, among others.
We remain steadfast in our commitment to contributing meaningfully to Nigeria’s economic transformation, supporting your administration’s efforts to build a self-reliant, globally competitive nation. We have remained Nigeria’s highest tax-paying company. With continued collaboration and shared resolve, we are confident that the journey ahead will usher in even greater opportunities for our people and our country.
The Dangote refinery complex is, in many ways, your brainchild. Mr President, let me just say one thing — the main road leading into our refinery is now to be known as Bola Ahmed Tinubu Road,” he added.
