Aliko Dangote has named the principle highway resulting in the Dangote Refinery after President Bola Tinubu, citing the president’s longstanding contributions to the mission and his administration’s assist for personal sector-led infrastructure.
The announcement was made on Thursday throughout the official commissioning of the Deep Sea Port Entry Street, which connects the Dangote Fertiliser Plant to Eleko Junction in Lagos State.
Addressing President Tinubu straight on the occasion, Dangote stated: “The Dangote refinery advanced is in some ways your brainchild. Mr President, let me simply say one factor — the principle highway going into our refinery is now going to be referred to as Bola Ahmed Tinubu Street.”
He described Tinubu as a pacesetter who has impressed investor confidence in a difficult financial surroundings. “Mr President, you’re a very brave chief. Please proceed the good work you’re doing. Thanks on your assist and encouragement. Positively, you must count on extra, and you must see extra, as this has given us the arrogance to do extra in supporting your authorities,” he added.
President Tinubu responded to the announcement with a handshake, drawing applause from dignitaries in attendance.
Dangote stated the newly named entry highway is a part of a wider community of infrastructure linked to the refinery, together with over 500km of roads, two of that are in Borno State and can join Nigeria to neighbouring international locations Chad and Cameroon. The highway additionally serves as a logistics hall through Epe–Ijebu-Ode and hyperlinks to the Sagamu–Benin Expressway.
In the meantime, Dangote, in an earlier occasion, mentioned the financial impression of the 650,000-barrel-per-day facility, which he stated is already influencing native gas costs and manufacturing prices throughout a number of sectors.Talking throughout a current go to by ECOWAS Fee President Dr Omar Touray, Dangote famous that Nigerians at the moment are paying considerably much less for gas than neighbouring international locations attributable to native refining.
“In neighbouring international locations, the common worth of petrol is round $1 per litre, which is N1,600. However right here at our refinery, we’re promoting at between N815 and N820. Many Nigerians don’t realise that they’re at the moment paying simply 55 per cent of what others within the area are paying for petrol,” he said.
In keeping with Dangote, the impact of native refining extends past the pump.
“Final yr, after we started diesel manufacturing, we had been in a position to scale back the value from N1,700 to N1,100 at a go, and as of immediately, the value has crashed additional. This discount has made a major impression throughout varied sectors. It has supported industries, benefited these of us in mining, and supplied important aid to the agricultural sector,” he stated.
The industrialist additionally responded to criticisms that the refinery could not be capable to meet Nigeria’s full demand, a lot much less provide different West African international locations. “There have been many claims suggesting that we don’t even produce sufficient to fulfill Nigeria’s wants, so how might we presumably provide different West African international locations? However now, they (ECOWAS officers) are right here to see the truth for themselves,” he stated.
Touray, who led a high-level delegation from the ECOWAS Fee, described the refinery as a benchmark for what non-public sector-led industrialisation might obtain on the continent. “What I’ve seen immediately provides me a number of hope, and all people who doesn’t imagine in Africa ought to come right here,” Touray stated.
He identified that the refinery’s Euro V normal gas helps ECOWAS meet its 50ppm sulphur emissions cap—an environmental normal not all the time met by imported fuels. “We’re nonetheless importing merchandise under our normal when a regional firm reminiscent of Dangote can meet and exceed these necessities,” he stated.
Touray referred to as for elevated collaboration between ECOWAS governments and the non-public sector, notably on infrastructure and coverage reforms that encourage funding. “We can’t proceed to make choices on behalf of the non-public sector from a distance. Visits like this present us with first-hand expertise and direct perception into the challenges they face,” he stated.
As ECOWAS marks its fiftieth anniversary, Touray pledged stronger assist for firms just like the Dangote Group to entry broader regional markets. “As soon as once more, I congratulate the Dangote Group and commit that the ECOWAS Fee will do every thing to open up the ECOWAS marketplace for them, if not your complete African continent,” he declared.
The ECOWAS delegation included Commissioner for Infrastructure, Power and Digitalisation, Sediko Douka; Commissioner of Inside Providers, Prof. Nazifi Darma; Director of Non-public Sector/SME, Dr Tony Elumelu; and Chief of Employees to the Fee President, Abdou Kolley.
