Femi Otedola just recently got back to Nigeria, after being away from the country for five months. Following his return, one of the first places he visited was Aliko Dangote’s multi-billion-dollar refinery and fertiliser projects in the Lekki Free Trade Zone. As you can expect, he shared the situation report with us.
Writing on Instagram, the billionaire revealed that construction works on Dangote Fertiliser Plant are complete and that the facility is ready for commissioning.
For the benefit of those who haven’t been keeping up, the fertiliser plant is the second largest in the world and it is expected to become a major boost for the Nigerian agriculture sector. Perhaps the facility will be commissioned just in time for the farming season in Nigeria which starts off in April.
[READ MORE: Dangote Industries targets $30 billion turnover by 2022]
Also writing about the current state of the Dangote Refinery, Femi Otedola said the project is now 75% completed. In the same vein, the petrochemical unit is also 60% completed. Recall that the facility was initially projected to be ready by 2020. However, the completion date was shifted to H1 2021.
When it eventually becomes operational, Dangote Refinery is expected to be the biggest in the world. Some 650, 000 barrels of crude will be refined there on a daily, even as its products will be supplied across Africa, after meeting local demands.
In the meantime, Femi Otedola believes that these massive projects by his friend should be the 8th Wonder of the World. Perhaps he is not wrong. The sheer size of the refinery, which sits on some 6, 180 acres (2,500 hectares) of land, is worthy of admiration. Now, when you think about how this could transform the Nigerian economy, it begins to dawn on you that it is really the 8th Wonder of the World.