During the official launching of the Dangote Oil Refinery in Lagos State, the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, expressed optimism that the refinery would have significant economic benefits for Nigeria.

Emefiele stated that the refinery is expected to generate 12,000 megawatts of electricity and create over 135,000 permanent jobs.

He highlighted the strategic efforts of the government, led by President Muhammadu Buhari, in diversifying the economy and making the country globally competitive.

Emefiele acknowledged the initial skepticism surrounding the project but emphasized the determination and willpower to succeed.

He praised Aliko Dangote, the chairman and CEO of the Dangote Group, for his vision and ability to build a refinery that can serve the entire nation and continent.

ALSO READ: Dangote refinery: Africa’s largest oil processing facility commences operations, revolutionizing Nigeria’s fuel supply

The governor also highlighted the cost savings in terms of foreign exchange and the positive impact on Nigeria’s fiscal balance.

Governor Babajide Sanwo-Olu of Lagos State commended Dangote for his remarkable success and described him as a detribalized man who has invested in the prosperity of Lagos and Nigeria as a whole.

Aliko Dangote himself outlined the goals of the refinery, aiming to meet the nation’s demand for quality products and provide raw materials for various manufacturing industries.

The Dangote Oil Refinery is a state-of-the-art facility with a capacity of 650,000 barrels per day, making it the largest single train oil refinery in the world and the seventh largest globally.

Dangote emphasized its significance in meeting energy demands not only in Nigeria but also across Africa.