![[Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years](https://theafricanbusiness.com/wp-content/uploads/2023/02/TALA-APP-360x180.jpg "[Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years 19")
Dangote Refinery: Africa’s largest oil facility is 97 per cent complete
Members of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) who recently paid a visit to Aliko Dangote’s multi-billion-dollar refinery disclosed that the refinery is 97 per cent near completion.
The NMDPRA disclosed the news in Abuja when representatives of the Dangote Petroleum Refinery presented the work plan for the facility for 2022/2023, Daily Trust reported.
Speaking on the refinery project, NMDPRA’s Chief Executive, Farouk Ahmed, reiterated the importance of the Dangote Petroleum Refinery to the country while assuring that the Authority will give all necessary support to ensure timely completion and kick-start operations.
The Dangote Refinery, situated on 6,180 acres (2,500 hectares) of land, is Africa’s biggest oil refinery and the world’s biggest single-train petroleum facility. Upon completion, the refinery will be able to process 650,000 barrels of crude oil per day into refined petroleum products, which will help Nigeria become an oil refining country.
The Group Executive Director, Strategy, Portfolio Development & Capital Projects, Dangote Industries Limited, Devakumar Edwin, hinted that the refinery would allow for smooth transhipment of refined petroleum products to international markets and ultimately eliminate the overreliance on fuel import from other regions into Nigeria.
According to him, the refinery would stimulate economic development in Nigeria, adding that it can meet 100 per cent of Nigeria’s requirement of all liquid products (Gasoline, Diesel, Kerosene and Aviation jet) and also have a surplus of each of these products for export.
“The high volume of petrol output from the refinery would transform Nigeria from a petrol import-dependent country to an exporter of refined petroleum products,” he stated, adding that the refinery would produce Euro-V quality gasoline, diesel, jet fuel, kerosene and poly-propylene for local consumption and also have a surplus of each of the products for export.
Nigeria currently imports most of its refined petroleum due to a lack of domestic refining capacity. With this new facility, Nigeria’s refining capacity will double and help meet the increasing fuel demand while providing cost savings.
