Nigeria’s Vice President, Professor Yemi Osinbajo has described the ongoing Dangote refinery, petrochemicals, subsea gas and fertilizer plant projects at the Lagos Lekki Free Zone Area as the most ambitious and inspiring infrastructure to be delivered on the African continent.
Professor Osinbajo, who affirmed this while on a working visit to the Lekki Free Zone Area, stressed that the four major projects being undertaken by the Dangote had the capacity of mopping up unemployment in Nigeria with 235,000 jobs.
According to the Vice President who leads Nigeria’s economic team, the ongoing refinery project, petrochemical company, fertilizer and subsea gas projects are massive industrial undertakings that will change the face of Nigeria’s industrial climate.
“This is the largest industrial undertaking in Nigeria; there we have seen the refinery which is meant to refine 650, 000 barrels of oil per day which by all projection is the largest in the world, there is also the, petro-chemical , fertilizer plant which is also projected to be the largest in the world, there is also a pipeline production plant here; I think it is an incredible industrial undertaken in the country and most ambitious in the continent today, it is really inspiring,” he added.
The Governor of Lagos State, Mr Akinwunmi Ambode in an interview after the visit, stated that the Dangote Group’s decision to embark on four significant projects that will have great multiplier effects on growth and economy of Nigeria is aimed at boosting economic prosperity.
Governor Ambode said the income that would be generated to the Federal Government in the next three years would be over 500 million dollars, this is from a single individual,” the governor hinted.
“What this tells us is that Lagos is on an expansive growth both on the east and west sides, there is nothing we can do as a government than to commend Alhaji Aliko Dangote and thoroughly support him. We are going to have a petro-chemical project that is coming up in 2017; a refinery that will come on stream in the first quarter of 2019; then a the gas project that is coming up in 2018, you can just visualize what that means to the economy of Lagos, direct jobs created here is 135,000 people and indirect jobs 100,000 people,” Ambode stressed.
The President of Dangote Group, Aliko Dangote described Lagos State as a good investment destination, stressing that the investment climate in the state had been a source of inspiration for the conglomerate.
Dangote said he was optimistic that his huge investment would attract other investors to the zone.
“This investment that we have; by the time that we finish; especially the gas pipeline, a state like Lagos can run without any interruption of electricity power supply. It will be as good as living in London where you don’t see power outage, that is because we can supply power from here to anywhere, that means tripling the Gross Domestic Product of Lagos state and it will create a lot of economic activities,” Dangote reiterated.
The Chairman Forte Oil Femi Otedola, Minister Of Power Works and Housing Mr Babatunde Fashola, Minister of Solid Minerals, Dr Kayode Fayemi, Minister of Finance Mrs Kemi Adeosun , Minister of Industry and Investment Okechukwu Enelamah, were part of the Vice President ‘s entourage.
The refinery on completion in the first quarter of 2019 is expected to be refining at least half of Nigeria’s daily crude oil production.