The Ogun State Chamber of Commerce, Industry, Mines, and Agriculture (OGUNCCIMA) has hailed the groundbreaking contributions of Dangote Refinery to Nigeria’s economic resurgence, describing it as a monumental achievement reshaping the nation’s energy and industrial landscape.
Lion Niyi Oshiyemi, President of OGUNCCIMA, lauded the refinery’s transformative role during a recent statement, emphasizing its impact on critical sectors and the private sector’s resurgence.
“The Dangote Refinery is a game-changer for Nigeria’s economy. With a capacity to refine 650,000 barrels of crude oil daily, it has drastically reduced reliance on imported petroleum products, conserving foreign exchange and reinforcing our energy security. This underscores the private sector’s pivotal role in national development,” Oshiyemi said.
The Dangote refinery has created thousands of jobs, stimulated multiple industries, and facilitated economic diversification. Oshiyemi highlighted its impact on manufacturing, logistics, and innovation, attributing these achievements to the project’s focus on technology transfer and skills acquisition.
“By fostering local business growth and equipping enterprises to compete globally, Dangote Refinery has become a beacon of industrial excellence,” he remarked.
The emphasis on local content and partnerships with indigenous companies has been integral to the refinery’s strategy. This approach has spurred investments in infrastructure, engineering, and technology, strengthening Nigeria’s industrial base. Moreover, the ripple effects have attracted investments in sectors like petrochemicals, manufacturing, and transportation, further solidifying the nation’s economic competitiveness.
OGUNCCIMA also noted the refinery’s role in addressing trade imbalances. By producing refined petroleum domestically, Nigeria has reduced import dependency and positioned itself as a potential exporter within Africa.
“This project aligns with the objectives of the African Continental Free Trade Area (AfCFTA), addressing energy deficits across the continent and promoting intra-African trade,” Oshiyemi added.
The refinery’s commitment to corporate social responsibility (CSR) has been equally noteworthy. The Dangote Group’s initiatives in education, healthcare, and community development have significantly improved the quality of life for Nigerians.
“Dangote Refinery exemplifies how private enterprises can drive both economic growth and social progress. Its CSR efforts are paving the way for a brighter, more inclusive future,” Oshiyemi noted.
OGUNCCIMA urged stakeholders in both public and private sectors to replicate the Dangote Refinery’s innovative approach. Oshiyemi emphasized the importance of visionary leadership and strategic investments in achieving a resilient and self-reliant economy.
“This refinery is a model of success, demonstrating what the private sector can achieve with vision and commitment. Collaboration across all sectors is essential to replicate such milestones and build a prosperous Nigeria,” he concluded.
In a recent move, Dangote Refinery reduced the price of petrol to N970 per litre for oil marketers, signaling its commitment to affordability and sustainable energy solutions. Further reductions are anticipated, reinforcing its role as a driver of economic transformation.
The Dangote Refinery stands as a testament to the power of innovation and private-sector leadership in addressing national and continental challenges, setting the stage for a new era of economic and social development.
By Grace Olaogun