Ogun State Governor, Dapo Abiodun, has expressed confidence that the commencement of fuel production by the Dangote oil refinery will eliminate persistent fuel shortages and bolster Nigeria’s economy by conserving foreign exchange.
The 650,000 barrels per day refinery is set to start delivering petrol to filling stations within the next 48 hours, as final agreements with the Nigerian National Petroleum Company Limited are being formalised.
In a statement by his Chief Press Secretary, Lekan Adeniran, Governor Abiodun emphasized that the refinery’s operations will end Nigeria’s long-standing dependence on fuel importation, which has caused significant challenges for over three decades. He also highlighted the preparation of the Warri and Port Harcourt refineries, which will provide additional relief from fuel scarcity and further enhance the economy.
Abiodun praised Dangote for his unwavering commitment to completing the multi-billion-dollar project despite numerous challenges and also commended President Bola Tinubu for ensuring that the refinery became operational during his administration. The governor acknowledged the President’s efforts in revitalizing other refineries, which he said would help reduce fuel prices once production starts across all sites.
“This achievement represents a transformative milestone for Nigeria and Africa, showcasing the power of vision, resilience, and commitment to economic development,” Abiodun remarked. He added that local fuel production would significantly reduce the outflow of foreign currency, strengthening the economy and supporting the Tinubu administration’s goals of economic diversification and reducing reliance on oil exports.
In addition to addressing fuel scarcity, Abiodun noted that the refinery would create thousands of jobs, both directly and indirectly, thus lowering unemployment rates. He further explained that the refinery’s operations will enhance Nigeria’s energy security, stabilizing fuel supply, reducing price fluctuations, and creating a more favorable environment for businesses, which will, in turn, attract foreign investments and foster economic growth.
