Dangote Refinery will impact Nigeria economy, generate 12,000 Megawatts of power –  Emefiele

Governor of the Central Bank of Nigeria, (CBN), Godwin Emefiele said the newly inaugurated Dangote Refinery will impact Nigeria economy and help the country generate 12, 000 more Megawatts of electricity.

Emefiele gave this assurance while speaking at the commissioning of the refinery in Lagos on Monday.

The CBN governor also stated that over 135,000 permanent jobs will be available to Nigerians as operations get underway.

According to him, the facility is also expected to save Nigeria between $25 and $30 billion in foreign exchange (forex) annually.

Emefiele noted that like a venture that continues to give, the refinery will further give the economy an inflow of $10billion yearly.

He described the Dangote Refinery is an indication that Nigeria can produce whatever it needs.

The Dangote Petroleum Refinery and Petrochemical Project, a subsidiary of Dangote Industries Limited owned by Aliko Dangote, was commissioned earlier today (Monday) by President Muhammadu Buhari.

The facility is located at Dangote Industries Free Zone, Ibeju-Lekki, Lagos, and expected to process crude oil grades from the continent of Africa, Asia and America, with a delivery of a surplus of close to 38 million litres of petrol, diesel, kerosene and aviation fuel for Nigeria daily

The refinery is also expected to refine 650,000 barrels of crude oil per day and transforms crude oil into different usage of petroleum products such as diesel, gasoline, jet fuel and kerosene.

The refinery will produce Euro-V quality gasoline and diesel, as well as jet fuel and polypropylene.