OGUNCCIMA Applauds Dangote Refinery’s Economic Revolution
The Ogun State Chamber of Commerce, Industry, Mines, and Agriculture (OGUNCCIMA) has commended the transformative impact of Dangote Refinery on Nigeria’s economy, praising its significant contributions to energy security, private sector growth, and industrialization.
Speaking on behalf of the organisation, President Lion Niyi Oshiyemi described the refinery as a “game-changer,” noting its pivotal role in reducing Nigeria’s dependence on imported petroleum products and conserving foreign exchange.
“With a capacity to refine 650,000 barrels of crude oil daily, the Dangote Refinery has fortified our energy security and reinforced the critical role the private sector plays in national development,” said Oshiyemi.
Economic Catalyst
The refinery’s operations have spurred economic activities across various sectors, creating thousands of jobs and providing a platform for technology transfer and skills acquisition. Oshiyemi highlighted that this has equipped local businesses with tools to compete both domestically and internationally.
“The refinery’s local content strategy has been instrumental in driving growth. By sourcing materials locally and collaborating with indigenous companies, it has supported the development of Nigerian enterprises and bolstered investments in engineering, technology, and infrastructure,” he said.
Ripple Effects Across Sectors
Beyond the energy sector, Dangote Refinery has catalyzed industrialization by attracting investments in petrochemicals, manufacturing, and transportation. This multiplier effect has expanded Nigeria’s industrial base and enhanced its global competitiveness.
Additionally, the refinery’s domestic production of petroleum products has addressed Nigeria’s balance of trade challenges, reducing costly imports and positioning the country as a potential exporter of refined products across Africa.
“This refinery aligns with the objectives of the African Continental Free Trade Area (AfCFTA) by addressing Africa’s energy deficits and trade imbalances. It is a beacon of Africa’s potential to compete globally and foster regional integration,” Oshiyemi remarked.
Corporate Social Responsibility and Innovation
The Dangote Group’s commitment to corporate social responsibility has further solidified its legacy. Investments in healthcare, education, and community infrastructure have improved the quality of life for Nigerians and strengthened local resilience.
“This initiative exemplifies how private sector enterprises can drive social progress alongside economic development. Dangote Refinery is building a brighter future for Nigerians through its support for education and healthcare,” Oshiyemi noted.
A Call for Collaboration
OGUNCCIMA urged public and private stakeholders to replicate the refinery’s innovative approach to economic transformation. Oshiyemi called for partnerships to develop similar projects that would foster sustainable growth and reduce Nigeria’s reliance on external resources.
“This refinery is a model of what is possible when the private sector leads with vision and commitment. Stakeholders must collaborate to replicate such successes, building a resilient, self-reliant, and prosperous Nigeria,” he concluded.
Price Reduction and Prospects
In a recent development, Dangote Refinery reduced the price of petrol to N970 per litre for oil marketers, with assurances of further reductions in the near future. This move underscores the refinery’s role in easing economic pressures while advancing national and regional energy goals. Bello Calms Courtroom as Judge Fixes Bail Ruling for Dec 10
