By 2020, Dangote Refinery will start operations and the impact will be seen in the socioeconomic ecosystem of Lagos state.
The project is located in Lekki Free Trade Zone on a vast land mass of 2,200 hectares, an area eight times bigger than the entire Victoria Island in Lagos.
With Dangote Refinery, the biggest refinery in Africa's largest megacity, Lagos may become the second biggest economy in the continent.
The refinery will create more than one million new jobs from industries producing petroleum naphtha, gasoline, diesel fuel, asphalt base, heating oil, kerosene, liquefied petroleum gas, jet fuel and fuel oils and petrochemicals feed stock like ethylene and propylene.
Over 6,000 items are made from petroleum waste by-products including: fertilizer, floor coverings, perfume, insecticide, petroleum jelly, soap, vitamin capsules.
The LNG plant will generate regular power supply 24/7 like NLNG in Rivers state.
Nigeria spent N2.59 trillion to import refined petroleum products in 2016, according to the Nigeria Bureau of Statistics.
“This is the biggest industrial site anywhere in the world from the fertiliser, petrochemical and refinery plants.
“Our refinery will be 1.5 times the capacity of all the existing four refineries in the country even if they are working at 100 per cent capacity.
“This is the single largest refinery in the world. The petrochemical that we have is 13 times bigger than the Eleme Petrochemical built by government,” Alhaji Aliko Dangote said.
The byproducts of the refinery will end the importation of many products in the billion dollar cosmetics industry such as petroleum jelly.
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