The Dangote Oil Refinery Project and Nigeria's Oil Industry | African Biographics

Aliko Dangote, the richest man in Africa, plans to spend $15 billion on a project that — if successful — could revolutionize Nigeria’s economy. Dangote is constructing an oil Refinery with a capacity to produce 650,000 barrels per day (BPD) in the Lekki Free Zone near Lagos, Nigeria.

If he succeeds, he could end the irony of Africa’s biggest oil producer, Nigeria, importing $8.7 billion of fuel a year, and instead see it meeting its own needs and supplying neighboring nations.

According to a 2018 estimate, the refinery has the potential to revolutionize Nigeria’s economy, with its operations adding $13 billion, or 2.3% to gross domestic product.

Oil represents more than 80% of Nigeria’s exports, 30% of its banking-sector credit, and 50% of the overall government revenue.

In this video we take a look at the Nigeria’s oil industry in brief, this grand project by the Dangote group and its potential benefits.
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Sources:

https://dangote.com/our-business/oil-and-gas/

https://www.theafricareport.com/21854/behind-the-hype-is-dangotes-refinery-a-game-changer/

https://www.theafricareport.com/48643/nigeria-dangote-refinery-african-free-trade-hinge-on-better-roads/

https://www.businesslive.co.za/bd/world/africa/2020-08-28-aliko-dangote-to-build-huge-oil-refinery-in-nigeria/

https://www.theafricareport.com/29913/nigerias-dangote-still-expects-refinery-to-be-running-early-2021/

https://www.bloomberg.com/news/articles/2020-08-28/aliko-dangote-africa-s-richest-man-is-betting-his-money-on-a-vast-oil-refinery

https://www.sulzer.com/en/shared/news/200707-sulzer-mass-transfer-technology-supports-development-of-dangote-refinery

https://www.un.org/africarenewal/magazine/april-2012/bid-end-subsidy-stirs-protest-nigeria

https://www.theguardian.com/world/2012/jan/16/nigeria-restores-fuel-subsidy-protests

https://core.ac.uk/download/pdf/234668715.pdf

https://www.theguardian.com/environment/2011/aug/04/oil-nigeria-spills-fines-fights

https://www.worldbank.org/en/country/nigeria/overview

https://www.worldbank.org/en/news/press-release/2020/06/25/nigerias-economy-faces-worst-recession-in-four-decades-says-new-world-bank-report

https://allafrica.com/stories/202011050196.html

https://www.energyvoice.com/oilandgas/africa/211750/action-needed-on-nigerian-oil-theft/

https://www.nytimes.com/2018/10/09/business/energy-environment/in-nigeria-plans-for-the-worlds-largest-refinery.html?
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Видео The Dangote Oil Refinery Project and Nigeria's Oil Industry | African Biographics канала African Biographics