As Dangote Refinery nears completion, the Dangote Group, through its Executive Director, Strategy, Capital Projects and Portfolio Development, Devakumar Edwin, has disclosed its desire to export petroleum products to Europe, South America, West Africa and Central Africa.
The Details: This desire was disclosed during a tour of the Lekki based refinery led by the Minister of State for Petroleum Resources, Chief Timipre Sylva.
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Relating to the group’s desire to be the most sought-after petroleum exporter, Devakumar Edwin noted that petroleum products from the refinery were being designed with the aim of global consumption.
“It is one of our targets to take diesel to Europe. Our equipment is already being designed to do this. We can take surplus petrol to South America, apart from West African countries and Central African countries. That is why decided to go for Euro V.
“The refinery can handle all the Nigerian crude grades and all the African crude grades, as well as some of the Middle East grades and the US light oil.”
Edwin also added that the refinery is so unique that it could match 100% of the Nigerian requirements and still have reserve for export.
An impressed Sylva promised his support for the project as he promised the group that the Federal Government would ensure the refinery is fully developed.
“In terms of support, it will be in the areas of feedstock and off-take. Government will guarantee some of these things. But all these will come out of discussions with the President of Dangote Group. Once they put their needs on the table, we will look at them and see how to narrow the gap,” the minister said.
Reacting to the development, business magnate and President of Dangote Group, Aliko Dangote expressed his patriotism for Nigeria as the motive for the group’s decision.
“We believe in Nigeria, and if we don’t do it by ourselves, nobody will come down here and do it for us. Nigeria is actually supposed to feed the entire West and Central Africa and that is what we are trying to do. That is why went for this massive capacity,” he added.
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What you should know: In a recent Nairametrics report, the business magnate shed more light on the motive behind his investment in petrochemicals, refinery and gas. He highlighted the desire to bring innovation and efficiency to Nigeria’s oil and gas sector as the reason for embarking upon the refinery project, seeking a boost to Nigeria’s fortunes.
