The Central Bank of Nigeria Governor, Godwin Emefiele, announced that the just-inaugurated Dangote Petroleum Refinery and Petrochemicals would contribute to generating more electricity for Nigeria’s electricity sector, which is struggling to meet the energy needs of the country. Speaking on Monday at the refinery’s inauguration in Lagos State, Emefiele revealed that the refinery will provide 12,000 megawatts of electricity.
In addition, the CBN Governor highlighted that the refinery’s opening would lead to over 135,000 permanent job opportunities; since its initial construction phase, Dangote Refinery has already hired hundreds of young Nigerians and has provided training for many.
In terms of foreign exchange savings for Nigeria, Emefiele projected that the refinery would save the country between $25 to $30 billion yearly in forex. He added that the company would contribute to Nigeria’s economy by providing inflows of $10 billion yearly.
The Dangote Refinery is a testament to Nigeria’s capacity to produce whatever it needs. The energy sector will witness a significant landmark development when Dangote Refinery begins operations with a refining capacity of 650,000 barrels per day.
