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TINUBU VISITS DANGOTE REFINERY, LAUDS ECONOMIC CONTRIBUTION
President Bola Ahmed Tinubu has described the Dangote Petroleum Refinery and Petrochemicals complex as a defining industrial project of Nigeria’s modern era, citing it as a symbol of private-sector-led transformation and a cornerstone of national economic renewal.
The President made the remarks during a tour of the facility at the weekend, which also marked the commissioning of the Deep Sea Port Access Road. He hailed the refinery as “a remarkable achievement” and “a phenomenal project of our time,” underscoring its significance to Nigeria’s industrial and economic growth.
“Having inspected the Dangote Refinery, which is a great point of reference, a great phenomenon of our time, and a massive investment, I want to thank Aliko Dangote.
I am also pleased that the Deep Sea Port project, which I initiated during my tenure as Governor of Lagos State, has become a resounding success. It has significantly reduced logistics costs by eliminating the need for trans-shipment.”
Tinubu commended Dangote Industries Limited and Hitech Construction Company Limited for the quality of infrastructure delivered under the Federal Government’s Tax Credit Scheme.
Paying tribute to key figures in Nigeria’s business landscape, the President described Aliko Dangote as “the wisest of them all,” praising his bold investments and unwavering commitment to the country. “He is so daring in thinking and doing”.
Responding, Dangote credited President Tinubu’s economic reforms for fostering an enabling environment for industrial growth. He specifically commended the “Nigeria First Policy,” which he said aligns with the Dangote Group’s vision of self-sufficiency and import substitution.
“You have led from the front, delivering the dividends of democracy to the people. From your inaugural address in May 2023 – where you made the courageous decision to remove the costly fuel subsidy – you have directed a team of technocrats and reform-minded experts with clarity and purpose to execute these reforms.’’
Your leadership has been both decisive and reassuring, and your actions have reignited hope for a prosperous Nigeria,” Dangote said. Dangote said the refinery already exporting refined products to the United States and Saudi Arabia is part of broader efforts to support the Federal Government’s Renewed Hope Agenda, which aims to reposition Nigeria as a regional manufacturing hub.
Highlighting previous milestones, Dangote recalled how the Group’s investments helped Nigeria attain self-sufficiency in cement and fertiliser production. “The refinery will do the same for petroleum products. The days of long fuel queues are over,” he declared.
In recognition of President Tinubu’s support for the private sector and his role in conceptualising the Free Trade Zone during his tenure as Lagos State Governor, Dangote announced the renaming of the road leading into the refinery as Bola Ahmed Tinubu Road.
Dangote also revealed plans for further infrastructure development, including roads connecting Borno State to Chad and Cameroon, as part of a broader 500-kilometre national road network being funded by the Group. He reaffirmed the company’s commitment to contributing meaningfully to Nigeria’s economic transformation. He noted that the president’s visit served as an endorsement that will fuel even more ambitious plans.
“I told Mr. President that what he has seen is just the beginning. We’re going on a massive trajectory. In the next five years, this refinery will be at the back burner compared to what we’ll achieve.”
When asked about unannounced benefits he mentioned during an earlier ECOWAS visit, Dangote said: “Now that the president has visited and given us more energy, we’ll make a major announcement next week. It will be one of the biggest shakeups in the country’s downstream sector.”
On speculation about a possible price reduction, Dangote clarified: “It’s not about reducing price. It’s about a total overhaul of the downstream.” He also confirmed plans to list the refinery on the Nigerian Stock Exchange: “The bottleneck was that three test companies were not allowed to list, but the president has now approved and signed the updated SEC code.”
