News, Uncategorized

OIL & GAS: WHAT LED DANGOTE TO BUILD REFINERY — OTEDOLA

Nigeria’s billionaire business mogul, Femi Otedola has described the Dangote refinery as a remarkable project which will be a game-changer for the country.


Otedola who spoke with so much excitement after the commissioning of the refinery in Ibeju-Lekki, Lagos, expressed how enthused he was, seeing a project that began as far back as 2012, come to fruition.


DCO Global News
Published on March 27, 2022
By Odoh Dominic Chukwuemeka


His words, “This is a remarkable project. I’m excited today. Today is the happiest moment in my life to see this project come to reality. This is a project I’ve been visiting with Aliko since 2012″.He added that refining crude oil locally is what Nigeria needs at the moment as this would drastically reduce the prices of petroleum products.

According to him, the journey towards the construction of the refinery, began in 2007 when he and his friend , Aliko Dangote, “formed a consortium called Blue Star, to acquire the Port Harcourt and Kaduna refineries which for whatever reasons, was scuttled; the takeover was scuttled and Aliko said he was going to build his refinery.


“My take is, God has to use someone to do things like this. I’m not God chosen today but Aliko has done it with the special grace of God. This project will be a game changer for Nigeria. This project gives me hope that Nigeria is on the path to achieve greatness, once we sort out our little, little issues- security, etc.,


Describing the refinery as the largest in the world, Otedola pointed out that “what that means is the cost of importing products will come down definitely. It will create local jobs, hundreds of thousands of jobs and it will stop the importation of petroleum products which to me is not the best for a country like ours that has more than enough crude oil. So, it’s appalling to see us importing petroleum products”.

He also frowned at the high cost of petroleum products in a country like Nigeria that is highly endowed with crude oil, recalling that “At some point in my life, I used to control 92% of that market.


When I used to do the business, a ship load of diesel cost $22 million to import which then will translate to maybe 60 naira per litre. But it’s disheartening for me to see the price of diesel today, when I know the landing cost”, he said, stressing that “the market is being exploited. That is why, when you have few people in a business, it’s not the best for any country”.


Otedola who also spoke about the Dangote Fertilizer plant, described it as the second largest fertilizer plant in the world, noting that “What this means is Nigerians are not going to import fertilizer any more. All the billions of dollars we spend in importing fertilizer will stop”.



By Odoh Dominic Chukwuemeka

Your support matters.
Sustain independent journalism.


FOR ADVERT PLACEMENT CALL OR TEXT OUR WHATSAPP NUMBER; +886960917723, +886970840314

Click to Follow our website Dco-global-news.com

FaceBook Page; DCO Global News

DCO Global News Contacts;
For information on Press Releases, News, Advertisements, Videos, Photos, Events happenings, Promotional Events and Adverts, Share your stories with us, Please Call or Send a Text to our Whatsapp number; +886963563485, +886970840314.
Or send an email to; chionikdom02@yahoo.com, emydom29@gmail.com

(Like and Follow our Facebook Page; DCO Global News)

(Follow us on Twitter; @Dcoglobalnews)

(Follow us on LinkedIn; Dco Global News)

(Follow us on Tumblr; Dcoglobalnews)

(Follow us on Google +; Dco Global News TV)

(Subscribe to our YouTube Channel; DCO Global News TV)

Subscribe to our Telegram Channel DCO Global News.

Follow our Website http www. dco-global-news.com

Advertise with us.
Send us enquiries, Press releases.

DCO Global News Promotes the Values of Democracy, Human Rights, Values of Life and Freedom of Expression in a Region Where Genuine Media Freedom Remains Elusive and where many Media outlets remain Divided along Ethnic Lines.
Let’s 🚶 Walk the 🚶 Walk 🚶 Together.
Don’t miss a thing, get the latest updates to fuel your conversation daily.

For 2022, DCO Global News commit to another year of high-impact reporting that can counter misinformation and offer an authoritative, trustworthy source of news for everyone. With no shareholders or political owner, we set our own agenda and provide truth-seeking journalism that’s free from commercial and political influence. When it’s never mattered more, we can investigate and challenge without fear or favour.

(Support DCO Global News.)
LET’S HAVE YOUR SAY, LET’S KNOW YOUR THOUGHTS.
LIKE, SHARE AND COMMENT.

TEXT AD: To advertise here.
Call Dominic +886970840314…
© DGN NEWS MEDIA 2022.
All Rights Reserved.

1 thought on “OIL & GAS: WHAT LED DANGOTE TO BUILD REFINERY — OTEDOLA”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s