By Modupe Gbadeyanka
Governor of Lagos State, Mr Babajide Sanwo-Olu, has said Nigeria was on the right path to meet the projected $1 trillion Gross Domestic Product (GDP) by 2023 with the likes of Mr Aliko Dangote.
He said this over the weekend when the Senate President, Mr Godswill Akpabio, led the leadership of the upper chamber of the National Assembly to the $20 billion Dangote Petroleum Refinery in Lagos State.
The richest man in Africa built a crude oil refinery in Lagos with a capacity of 650,000bpd, which Mr Akpabio, a former Governor of Akwa Ibom State, described as the 9th wonder of the world.
“I am happy the Senate came to see for themselves; Mr Dangote was not ready to rest after successfully building the largest cement factory chain in Africa, the second largest sugar refinery in the world.
“With investment like this, I can assure you that we are on the right path to meet the projected GDP of $1 trillion by 2030.
“You have the key to the city, I gave you a long time ago and I am happy you are using it very well,” Mr Sanwo-Olu stated.
Also speaking, Mr Akpabio assured that the parliament would give it what it takes to protect the project because it is one project that Nigeria and indeed Africa should take ownership and must be protected jealously.
“They told us in Abuja that Dangote Refinery is farce but we have come here and see for ourselves that the refinery is alive and running. Mr Dangote has put to shame a lot of people. They are wondering how it will be possible for a single individual to accomplish what a whole nation could not accomplish; what 240 million people could not maintain; what a continent could not do and then one person will build a 650,000bpd project.
“They keep wondering how one person can succeed where nations have failed; where continents have failed. But Mr Dangote has done it. It is highly commendable. We came to see the refinery because we in the current senate believe in the Nigerian dream. We didn’t come as a doubting Thomas but we came because we believe the project, we came to rekindle the hope of Nigerians and the Nigerian’s can-do spirit,” he said.
In his remarks, Mr Dangote explained that the facility “produces a wide range of high-quality petroleum products, including premium motor spirit (petrol), diesel, kerosene, and jet fuel, all meeting the highest international standards (Euro V Grade).”
“The refinery, apart from adding value to our crude oil, will yield 900,000 KTPA of Polypropylene and 36,000 KTPA of Sulphur and carbon black as by-products,” he added.
He noted that the refinery would “help boost Nigeria’s economic growth, with the creation of thousands of direct and indirect jobs. During the construction stage, it supported over 150,000 jobs, made up of mostly Nigerians. These Nigerians in the process acquired various skills that are still useful in other construction projects.”
“The capacity of the refinery is enough to satisfy domestic demands for refined products. The Refinery will export about 50 per cent of its production thereby generating foreign exchange for the country. It will lead to growth in adjacent sectors such as logistics, shipping, engineering, and servicing.
“The refinery has the requisite capacity to provide energy security both by providing a ready home for our crude and in ensuring steady availability of petroleum products for all. Nigerians will also get to partake in the financial returns once we list the refinery on the NGX,” he stated, stressing, “We are thus making an important contribution to this administration’s plan to grow our GDP to $1 trillion.”
