Dangote Refinery Set to Bolster Nigeria’s Economy, End Fuel Scarcity, and Conserve Foreign Exchange – Gov. Abiodun

……Commends President Tinubu’s Intervention

Segun Atanda/

Ogun State Governor, Prince Dapo Abiodun, has expressed optimism that the imminent commencement of fuel production at the Dangote Refinery will significantly strengthen Nigeria’s economy, eliminate chronic fuel shortages, and conserve valuable foreign exchange.

Fuel from the 650,000 barrels per day Dangote Refinery is expected to reach filling stations within the next 48 hours, following the finalization of arrangements with the Nigerian National Petroleum Company Limited (NNPCL).

In a statement released on Tuesday by his Chief Press Secretary, Lekan Adeniran, Governor Abiodun noted that the refinery’s operationalization marks a critical turning point in Nigeria’s economic trajectory, addressing a major challenge that has plagued the nation for over three decades—its heavy reliance on fuel imports.

With the Warri and Port Harcourt refineries also gearing up to commence production, Governor Abiodun assured Nigerians that the days of incessant fuel shortages are nearing an end, paving the way for economic rejuvenation.

The governor lauded Alhaji Aliko Dangote for his unwavering commitment to realizing this multi-billion dollar project despite numerous obstacles. He also commended President Bola Ahmed Tinubu for his decisive intervention, which ensured the refinery’s completion and operational launch under his administration.

“The successful establishment of the Dangote Refinery is a transformative milestone, not just for Alhaji Dangote as an entrepreneur but for Nigeria and the African continent at large. This refinery signifies a pivotal shift in our energy landscape, driven by vision, resilience, and a steadfast commitment to economic development,” Governor Abiodun remarked.

He emphasized that the Dangote Refinery is poised to be a game-changer in the petroleum sector, effectively ending Nigeria’s dependence on imported fuel—a dependency that has drained the country’s foreign exchange reserves and hindered its quest for self-sufficiency.

“Local fuel production will drastically reduce the outflow of foreign currency, thereby strengthening our economy. This development aligns seamlessly with the Tinubu administration’s efforts to diversify the economy and reduce reliance on oil exports alone,” the governor stated.

Governor Abiodun further highlighted the broader economic impact of the refinery, which is expected to generate thousands of jobs, both directly and indirectly. This employment boost will invigorate local economies, stimulate growth in ancillary industries, and improve the livelihoods of countless families across Nigeria.

“In addition to creating jobs and spurring economic activity, the refinery’s operations will enhance Nigeria’s energy security. With its substantial production capacity, the country will be better positioned to meet its energy demands, reducing the volatility associated with fuel shortages and price fluctuations,” he said.

“This newfound stability will foster a more conducive environment for businesses and attract foreign investments, further driving economic growth.”

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