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All You Need to Know About Dangote Refinery

Dangote Refinery

All You Need to Know About Dangote Refinery

The Dangote refinery is the biggest attraction at the Lekki free trade zone axis at Ibeju-Lekki Lagos and here is a compilation of all you need to know about Dangote refinery.

  • The United States Trade and Development Agency will train over 100 employees of the company on refinery fundamentals.
  • Over $4 billion worth of equipment currently sits on the site.
  • The project is slated to cost $14 billion (N2.8 trillion) of which Dangote is contributing $7 billion in equity.
  • The project site is larger than Victoria Island. It is located on 2135 hectares of land in Ibeju-Lekki, Lagos near the Lekki Free Zone
  • It is the largest industrial complex in Africa
  • Work goes on, on the site, 24 hours a day, 7 days a week
  • World Record 2.72 million accident free hours recorded on site, without a single lost time to injuries
  • It is the largest single train grass roots refinery in the world with a processing capacity of 650,000 BPSD
  • Dangote Group brought in the world’s #1, #2, and #5 sand dredgers to sand fill the site. 60% of the land being swampy. So far these dredgers have reclaimed 13 million m³ out of 30 million m³

READ ALSO:Lekki Free Trade Zone Investment Sales hits N100bn

  • During construction, the project will employ over 25,000 Nigerians
  • Dangote is investing over $7 billion (N1.4 trillion) in the project
  • It is the largest single train refinery project on the planet
  • When this project comes online, Nigeria will save a minimum of $10 billion a year on imports
  • The Ammonia component of the plant will produce 2.8 million tonnes of Urea

Read: Nigeria Moves to Provide Affordable Housing for Millions of Citizens

  • Dangote is producing its own electricity to power the plant and by so doing is saving 75% costs. Dangote produces electricity at a rate that is significantly cheaper than the Federal Government. Dangote’s cost is $400,000/MW, while Federal Government is $2,000,000/MW
  • All the civil engineering is done by Nigerian companies
  • The plant has an export value of $6 billion per annum, meaning Dangote’s efforts will increase the amount of foreign exchange in Nigeria’s foreign reserves by at least 40% of current value on a yearly basis
  • Dangote said when this project comes on line, his friend Femi Otedola will save at least N26 per litre on millions of litres of diesel and petrol which his companies import annually. This savings will be passed on to the consumers and it will take a lot of pressure off the banks
  • Billions of Naira were paid to acquire the land and to settle the existing communities. More money was also allocated and spent to relocate the existing communitie

READ ALSO:All You Need To Know About Lekki Free Trade Zone

  • This project will restore the dignity of Nigeria, a crude producing country that has for years gone abroad to meet its demand for refined products
  • Refined products to be produced at the plant include but is not limited to propane, petrol, Jet Fuel, Diesel, Kerosene, Carbon Black, Polypropylene, Polyethylene
  • The United States Trade and Development Agency is supporting this project with $997 million.
    This 14 billion-dollar refinery project will create over 300,000 direct and indirect jobs by the first quarter of 2019.

Meanwhile Dangote refinery engineers promise to end fuel scarcity in Nigeria

Returnee indigenous India trained Nigerian graduate engineers of the Dangote Refinery have promised to deploy the knowledge and skills acquired during their training to ensure Nigeria is saved the embarrassment of fuel scarcity when the refinery come on stream.

The engineers who described their experience as second to none in the history of Africa oil and gas sector said never again would Nigeria experience fuel scarcity as the Dangote refinery would be operated in the most efficient manner.

Dangote Refinery Company had in preparation for take off sent in batches local graduates engineers to Bharat Refinery in India, arguably the biggest in the world for training in refinery operation and production. The nation is anxiously awaiting the Dangote refinery with a capacity to produce over 650,000 bpd to commence operation as the country’s four refinery have gone comatose.

Reliving their experience to the management of the copy on return one after the other, at the refinery’s premises in Ibeju Lekki, Lagos the engineers said they had both theory and practical training in India and they are also having a very rare opportunity to witness a refinery of the Dangote’s size being built from the scratch. Opeyemi Oyedepo, Process engineer and Igwe John, petroleum and gas engineer told the management how they were made to be part of trouble shooting during their training, a development that has boosted their confidence that Dangote Refinery with most modern facilities will eradicate perennial fuel scarcity in Nigeria.

Speaking further on the benefits of the training to Dangote Refinery, the engineers stated that the company would henceforth enjoy increased value of human asset; improved ability to implement and realize specific goal within time frame. The graduate engineers also listed as part of the benefits efficient refinery operations and adherence to quality and standard. In his comment, Technical Adviser to Dangote Refinery, Engr. Babajide Soyode expressed satisfaction that the best of the graduate engineers were selected as attested to by the the trainer’s in India.

He said the management was proud of the engineers as they have displayed a thorough understanding of what they learnt in India. On the choice of India for the training, Engr Soyode said India has the biggest refinery in the world and are ready to train young engineers unlike the disposition in Europe and other part of the Western world.

The company’s Director of Human Capital Management and Project Support, Mohan Kumar, while presenting the returnee engineers said the company is laying a solid foundation for take off with the training of the engineers. He said the young engineers were trained at Bharat Petroleum Corporation Ltd. in India on how to manage the operations of the refinery. Kumar added that the engineers had gathered fundamental practical knowledge about refinery. According to him, the engineers are recruited and trained to witness the building of the refinery from scratch. He said the engineers spent two months in classroom training and three months on the job training. Kumar explained that the engineers were trained by experts who had over 45 years experience in refinery operations, stressing that the training became imperative due to the commitment of Dangote Group to promote local content by developing indigenous capacity.

He stated that “the returnee engineers are expected to also transfer the skills acquired to other Nigerians when the refinery comes on stream”.

Why not invest in a land next to this massive project, see list of our high yield properties next to Dangote’s refinery here.

Kindly see list of our recommended high yield properties below.

Amen Estate Phase 2

GREENFIELD COURT

SILVERTON GARDENS 2 SHIMAWA

BrentHills Maitama Extension

BRIDGEVILLE COURTS

THE PENINSULA HOMES 2

THE PENINSULA HOMES

ROYALTY GARDEN

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