Society Gists

Femi Otedola, the billionaire businessman, says the Dangote Refinery is a testament to visionary leadership and relentless pursuit of excellence.

Otedola spoke in a post on X on Sunday, expressing his views on the giant oil plant.

The Dangote refinery recently received its maiden one million barrels of Agbami crude grade as it plans to begin production this month.

Speaking on the feat, Otedola congratulated Aliko Dangote, the chief executive officer (CEO) of Dangote Group, for the commencement of production at the refinery, describing it as the 8th wonder of the world.

“The Dangote Petrochemical Complex, which consists of the world’s largest single-train 650,000 barrels per day Petroleum Refinery, a 1 million metric tonnes of Polypropylene per-annum facility, and two of the world’s largest Fertilizer Trains – with a capacity of producing 3 Million Tonnes of Urea – is much more than just an industrial milestone; it’s a testament to the visionary leadership and relentless pursuit of excellence of one of Africa’s finest and most dogged patriots,” he said.

“I had a front-row seat as this vision was conceptualized and took shape. And I am familiar with the sleepless nights you’ve had to work through over the last decade to bring this dream to fruition.”

The billionaire said the refinery is a beacon of hope for millions of Nigerians and Africans, adding that it is also at the vanguard of championing environmental sustainability.

“With its carbon capture technologies and storage processes it will capture up to 90%+ of the CO2 emitted and also play a significant role in reducing Well-to-tank carbon emissions from crude oil maritime transportation, thereby playing its own role in helping Nigeria meet its target for net-zero emissions by 2060,” he said.

“The Refinery recircles 100% of its water. The heat coming out of the process is fully captured to produce 50MW of Power.

“Dangote is also producing Euro 5 to replace the bad Euro 5 that has been dumped in Africa for a long time.

“Shipping 65,000 barrels per day of crude out of Nigeria and 650kbpd in refined products to Nigeria and nearby countries which is 480 ships of 1m barrels per day will save 1.5m to 2.5m tons of CO2 emissions.”

The business mogul said meeting the country’s refined petroleum product requirements will promote energy security, independence, and prosperity for the nation, benefiting the environment.

Otedola added that the refinery promises economic transformation for Nigerians today and for generations to come.