Peter Obi, the Labour Party’s (LP) presidential candidate for the 2023 elections, has called the Dangote Refinery’s opening “another milestone toward the New Nigeria.”
The former governor of Anambra State expressed his opinion that the Dangote Refinery will have a significant positive impact on the economy of the country in a series of tweets on Monday night via his verified Twitter account.
When fully operational, the refinery, according to Obi, should be able to satisfy domestic demand for petroleum products in Nigeria and assist the country in saving the vital foreign currency currently used for their importation.
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He pointed out that Nigeria will reposition itself as a major player in the downstream petroleum sector of the global market by supplying the excess to the international markets. Nigeria has transitioned from consumption to production.
Obi also expressed his gratitude for the invitation to the Dangote Refinery’s Commissioning, the largest single-train petroleum refinery in the world.
He wrote: “Today, I honoured the invitation to the Commissioning of the Dangote Petroleum Refinery and Petrochemicals in Lagos. This is the World’s Largest Single Train Petroleum Refinery. I congratulate Alhaji Aliko Dangote for this world-class project which I believe will be very beneficial to Nigeria’s economy.
“The refinery with a capacity of 650,000 barrels of crude oil per day when operated maximally, is expected to meet Nigeria’s domestic demand for petroleum products and help Nigeria to save the much-needed foreign exchange currently spent on the importation of such products.
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“By supplying the surplus to the International markets, Nigeria will reposition itself as a key player in the downstream petroleum sector of the global market. In moving Nigeria from consumption to production, I have always argued for greater private sector participation in the economy as exemplified by the Dangote Group. I believe the Dangote Refinery will be very beneficial to the nation’s economy.
“By moving Nigeria from a net importer to a net exporter of petroleum products, this refinery will create numerous jobs and generate needed foreign exchange inflow.
“This refinery is another milestone towards the New Nigeria, to which I am committed. That new nation will be an enabling environment for a booming private sector that will see the rise of many micro, small, and medium-scale businesses that will boost the nation’s economy and foster increased productivity among our people.”
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