We’re committed to concept of innovations, energy efficiency ― Dangote
•Commends NNPC for unwavering support to make Nigeria self-sufficient
THE President/Chief Executive of Dangote Industries Limited, Alhaji Aliko Dangote has stated that the company was committed to the concept of energy efficiency and innovation in the oil and gas sector.
He made this known at the ongoing Nigeria International Petroleum Summit (NIPS) in Abuja.
According to him, Aliko Dangote is passionate about efficiency and innovation in the oil and gas sector by adding value to the hydrocarbon process.
Alhaji Dangote, whose message was delivered by the Group Executive Director, Government and Strategic Relations, Engineer Ahmed Mansur, said the ongoing investment in refining, petrochemicals, fertilizer and gas was driven by the desire to bring innovation and efficiency into all aspects of Nigeria’s oil and gas industry.
Speaking on the theme of the summit, “Shaping the Future through Efficiency and Innovation,” Alhaji Dangote said it was quite apt; giving Nigeria’s quest for economic transformation.
The business mogul, whose 650,000 barrels-per-day capacity refinery is the largest in Africa, said the company’s passion and drive were seen in the building of the project, which would become the world largest single train refinery on completion, and therefore a boost to Nigeria’s economy.
“The refinery can meet 100% of the domestic requirement of all liquid petroleum products (Gasoline, Diesel, Kerosene and Aviation Jet), leaving the surplus for export.
“This high volume of PMS output from the Dangote refinery will transform Nigeria from a petrol import-dependent country to an exporter of refined petroleum products.
“The refinery is designed to accommodate multiple grades of domestic and foreign crude and process these into high-quality gasoline, diesel, kerosene and aviation fuels that meet Euro V emissions specifications, plus polypropylene,” he explained.
He said the company was also constructing the largest fertiliser Plant in West Africa with the capacity to produce 3.0 million tonnes of Urea per year as part of the gigantic economic transformation project, pointing out that the Dangote Fertiliser complex consists of Ammonia and Urea plants with associated facilities and infrastructure.
“Nigeria will be able to save $0.5 billion from import substitution and provide $0.4 billion from exports of products from the fertiliser plant. Thus, supply of fertiliser from the plant, which is set for commissioning before the second quarter of 2019, will be enough for the Nigerian market and neighbouring countries,” he added.
Speaking further, he said at a time when the oil and gas sector and the global economy is in a state of flux, it is most appropriate that attention should be given to the future, especially given an incredible speed and quantum of change taking place in every facet of human endeavour.
“Our economy, in particular, cannot afford to ignore these massive changes. Our decades of dependence on this industry for our economic well-being and the urgent need for diversification has been widely recognised and is clearly the most critical challenge for our policymakers.
“But even as we seek to diversify from oil, and we are, indeed, making observable progress in this regard, we cannot ignore the need to continue to exploit this God-given resources in a more efficient and innovative manner,” he added.
He, therefore, commended the management of the Nigerian National Petroleum Corporation (NNPC) for its unwavering support in Dangote’s quest to make Nigeria self-sufficient in the production of petroleum products.