The Federal Government has described the Dangote Petroleum Refinery and Petrochemicals as a major driver of Nigeria’s ambition to build a $1 trillion economy, pledging stronger collaboration with the private sector to accelerate industrialisation, job creation and economic growth.
Minister of State for Industry, Senator John Enoh, stated this after leading a delegation on a tour of the 700,000 barrels-per-day Dangote Petroleum Refinery, Petrochemicals Complex and Dangote Fertiliser Limited in Ibeju-Lekki, Lagos.
Enoh described the integrated complex as one of Africa’s most significant industrial investments and a model for the large-scale manufacturing required to drive Nigeria’s economic transformation.
He said the refinery demonstrates Nigeria’s growing capacity for value addition and has helped reposition the country from a major importer of refined petroleum products to an exporter serving international markets.
The minister said the Federal Government would continue working with Dangote Industries and other manufacturers to address challenges affecting the sector, particularly access to affordable long-term financing.
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He noted that the Nigeria Industrial Policy aims to increase manufacturing’s contribution to the country’s Gross Domestic Product to about 20 per cent by 2030 and 25 per cent by 2035.
President and Chief Executive of Dangote Industries Limited, Aliko Dangote, urged the government to place industrialisation at the centre of its economic strategy, saying sustainable job creation and prosperity depend on a strong manufacturing sector.
Dangote also stressed the importance of stable and predictable government policies, noting that the success of indigenous businesses would encourage greater foreign investment in Nigeria.
He said supporting local investors remains critical to employment creation, foreign exchange generation and the country’s long-term economic growth.
