President Muhammadu Buhari is billed to unveil today (May 22) in Lagos, the 650,000 barrels per day (bpd) Dangote Petroleum Refinery and Petrochemicals.
According to a Twitter statement by the Dangote Group, the refinery will be churning out Premium Motor Spirit (PMS), Diesel (AGO), Aviation jet fuel and Dual-Purpose Kerosene (DPK), among other refined products.
According to the CEO of Dangote Petroleum Refinery and Petrochemicals, Sanjay Gupta, “everything in this plant by way of size is the first. It is the largest single-train refinery in the world.
“There is no single column which can process 650,000 barrels per day anywhere else,” he stressed.
Experts believe that the Dangote Refinery could help achieve macroeconomic stability in Nigeria. However, they say it cannot eradicate all the problems in Nigeria’s oil sector.
The plant, unarguably Africa’s biggest oil refinery and the world’s biggest simple-train facility, will no doubt create more employment opportunities for Nigeria’s teeming population.
And while the refinery is a game-changer for the nation’s troubled oil sector, one that will increase human, labor, and capital stock productivity, the experts say Nigeria needs to use its oil revenues wisely, to create a better future, especially as the world is moving toward renewable energy technologies.