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Mr Aliko Dangote, President, Dangote Group, says the corporate’s two billion {dollars} petrochemical plant, when absolutely operational, would place Nigeria as one in every of Africa’s largest petrochemicals hubs.
Dangote made the assertion in an announcement signed by Mr Francis Awowole-Browne, Media and Communication Personnel, Dangote Industries Ltd. on Sunday in Lagos.
He mentioned that the 900,000 metric tons each year capability plant, constructed alongside the 650,000 barrels per day Dangote Petroleum Refinery, would increase Nigeria’s non-oil export earnings and guarantee petroleum merchandise sufficiency.
He mentioned that the plant would produce polypropylene strategically, to cater to the calls for of the rising plastic processing downstream industries, not solely in Africa however in different elements of the world.
Dangote disclosed that the plant, reputed to be the biggest single prepare greenfield petroleum refinery on the planet, is at a sophisticated stage of completion.
He mentioned the plant was anticipated to export way more than eight million tons of petroleum merchandise yearly after assembly home consumption, whereas about 900,000 tons of polypropylene can be anticipated from the petrochemical plant.
Dangote emphasised the necessity for presidency to unlock the potential of petrochemical exports by finishing the OB3 Pipeline to make fuel out there to producers.
“There’s have to prioritise financing fuel infrastructure, fuel allocation to the home market and adjustment of fiscal framework to make provide of fuel to home market engaging for oil firms,” he mentioned.
Stressing on the necessity for Nigeria to encourage non-oil exports, Dangote mentioned that the nation’s non-oil export was fairly low, in comparison with different African prime oil producers.
He urged the Federal Authorities to construct on the nation’s aggressive benefit to develop industries that have been primarily geared in direction of exports.
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