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The Dangote refinery is expected to create a minmum of 145,000 indirect jobs on completion.  Babajide Soyode technical assistant to the President of the Dangote Group, Aliko Dangote disclosed this while receiving members of the House of Representatives Committee on Local Content.

Components of the refinery

Soyode also gave details of the capacity of each segment of the refinery complex.

  The refinery will have the capacity to refine 650,000 barrels of crude oil per day while the petrochemical plant will produce 780 KTPA Polypropylene, 500 KTPA of Polyethylene while the fertiliser project will produce 3.0 million metric tonnes per annum of Urea.

Why this is major

Job creation increases economic activities especially in the area where the refinery is located. More jobs means more spending power  which means more goods and services will be produced. This in turn stimulates production. The various tiers of government, also benefit from this. The state government has enhanced tax revenue. Local governments also gain from the various levies that industries pay.

In addition to the economic development, the host community to the refinery also benefits from the improved infrastructure such as roads and power.

About the Dangote group

The Dangote group was established in May 1981 as a trading business with an initial focus on cement. The conglomerate has since diversified its operations into various areas including sugar and salt refining, port operations, real estate, steel and truck assembly.

 

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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