President Buhari inaugurates Dangote petroleum refinery, boosting Nigeria’s economic potential

President Muhammadu Buhari inaugurated the Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, on Monday, marking a significant milestone for Nigeria’s economy and a game changer for the downstream petroleum products market in Africa.

The refinery is expected to propel Nigeria towards self-sufficiency in refined products and even create a surplus for export.

Attended by Heads of State from Ghana, Togo, Niger, Senegal, and a representative of the President of Chad, the event showcased the success that can be achieved when entrepreneurs are encouraged and supported in an enabling investment environment.

President Buhari expressed confidence in his successor, His Excellency Asiwaju Bola Ahmed Tinubu, to sustain the progress made in Nigeria’s economic and business environment, fostering economic growth and development.

President Buhari commended Alhaji Aliko Dangote’s leadership in executing the 650,000 barrels per day refinery and encouraged other entrepreneurs to emulate his example in driving economic growth and realizing Nigeria’s economic potential.

He emphasized the importance of African countries uniting, integrating their economies, removing trade barriers, and mobilizing their populations to achieve Agenda 2063 for the continent’s prosperity.

The President urged other great entrepreneurs to partner with the government in accelerating Nigeria’s growth and leading Africa’s rise to economic prosperity.

Highlighting the need for Africa to come together, President Buhari stressed the importance of eliminating trade barriers, empowering the youth, and creating favorable conditions for private sector growth in order to achieve Agenda 2063.

President Buhari also acknowledged the visionary investments made by the Dangote Group, particularly in the cement and fertilizer industries, which have transformed Nigeria’s economy and shifted the nation from heavy import dependence to a net exporter.

With the inauguration of the Dangote Petroleum Refinery, Nigeria takes a significant step towards achieving self-sufficiency in refined products, stimulating economic growth, and harnessing its vast potential in the African region.