Dangote’s Investments Will Define Generations, Otedola Hails Refinery Expansion
Billionaire and entrepreneur, Femi Otedola, has described plan by the President of Dangote Industries Limited, Aliko Dangote, to expand capacity of the facility from 600, 000 barrels per day to 1.4 millionb/d as an investment that will be passed down to generations.
Otedola praised Dangote in a post on X on Sunday.
While announcing the expansion on Sunday, Dangote had said the decision to increase capacity was driven by emerging opportunities across Africa, growing regional demand for cleaner fuels, and Nigeria’s evolving policy environment that encourages local refining.
Commending the feat, Otedola noted that the investment would not benefit just Dangote, but Nigerians and Africa.
“My brother and Africa’s pride, @AlikoDangote, addressed a World Press Conference in Lagos where he unveiled the expansion of the Dangote Petroleum Refinery to 1.4 million barrels per day from 650,000 barrels per day.
“This makes it the largest refinery ever built in the world. The announcement also included increased polypropylene output from 900,000 to 2.4 million metric tonnes annually and new capacities in linear alkylbenzene and base oils.
“Aliko’s relentless commitment to investing in Nigeria and Africa will outlive him as these are legacy investments that will define generations. Soon, Nigerians will own part of this refinery, a powerful reminder that this vision is not just for Dangote, but for all Nigerians and Africans,” the statement read in part.
He thanked President Bola Tinubu for the support.
“We also thank President @officialABAT for his continued encouragement as the private sector drives forward the Renewed Hope mandate to build a stronger, self-reliant Nigeria”.
