What Otedola Told Dangote After Commencement Of His Refinery

Nigerian businessman, Femi Otedola has congratulated his friend and multi-billionaire, Aliko Dangote, as his refinery commences production on Saturday, December 9, 2023.

Otedola took to his verified X account earlier today, December 10, to describe the Dangote Refinery as the eight wonder of the world as he shared a video showing when the first batch of petroleum was transported to the refinery.

In his post on X, Otedola confirmed that it cost Dangote the sum of $20 billion to complete the project which is the first government recognized privately owned petroleum refinery in Nigeria.

Otedola says the Dangote Petrochemical Complex has the world’s largest single-train and the capacity to produce 650,000 barrels per day.

It has the capacity to produce 1 million metric tonnes of Polypropylene per-annum, and features two of the world’s largest Fertilizer Trains, with a capacity of producing 3 Million Tonnes of Urea, according to the oil magnet.

He added that the refinery “is much more than just an industrial milestone; it’s a testament to the visionary leadership and relentless pursuit of excellence of one of Africa’s finest and most dogged patriots.”

Otedola continued: “This refinery is a beacon of hope for millions of Nigerians and Africans. It is also at the vanguard of championing environmental sustainability. With its Carbon capture technologies and storage processes it will capture up to 90%+ of the CO2 emitted and also play a significant role in reducing Well-to-tank carbon emissions from crude oil maritime transportation, thereby playing its own role in helping Nigeria meet its target for net-zero emissions by 2060.

“The Refinery recircles 100% of its water. The heat coming out of the process is fully captured to produce 50MW of Power. Dangote is also producing Euro 5 to replace the bad Euro 5 that has been dumped in Africa for a long time. Shipping 65,000 barrels per day of crude out of Nigeria and 650kbpd in refined products to Nigeria and nearby countries which is 480 ships of 1m barrels per day will save 1.5m to 2.5m tons of CO2 emissions. This will help the environment.

“By meeting our requirements for all refined petroleum products, it will champion energy security and independence for our nation and act as a catalyst for a new era of prosperity for the subcontinent. It promises economic transformation for Nigerians today and for generations to come.”