09 August 2018 ( Lagos): According to media reports, Dangote refinery is expected to have a 650,000 b/pd crude oil refining capacity (31% of Nigeria’s current average daily production) as well as sufficient gas supply to support as much as 12,000MW of power generation. Group Executive Director, Devakumar Edwin, in an interview also stated that the largest ever sub-sea pipeline, with a length of 1,100km, is being built by the refinery in addition to a 570MW power plant being constructed.
Notably, the refinery is projected to save Nigeria an estimated $7.5 billion through import substitution. Analysts highlight Nigeria’s current over-dependence on imported refined petroleum products due to the near defunct state of the country’s refineries. Though the Dangote Refinery, alongside a few other private refinery projects, are projected to come onstream in the near term, analysts look forward to more concrete progress updates on these projects and their expected timelines.
Reporting for EasyKobo on Thursday ,09 August 2018 in Lagos, Nigeria
Source: Vetiva Capital Management Limited
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