Dangote refinery ‘ll transform industry in Nigeria: NECA
The Nigeria Employers’ Consultative Association (NECA) said the planned inauguration of Dangote Refinery was a success to a nation in dire need of industrial renaissance.
The Director-General, Adewale-Smatt Oyerinde, made this known in a statement on Thursday in Lagos.
“With the petroleum refinery and petrochemical plant as well as the fertiliser plant housed in Nigeria, it invariably implies that there would be no more importation of petroleum products.
“Rather, there will be export of finished products, availability of petroleum products, thus, putting an end to long queues and scarcity of petroleum products.
“A significant plus of this feat will be the attraction of foreign capital investments that the country desperately needs,” he said.
The NECA boss said also, that the multiplier effect of its target 135,000 direct and indirect jobs for Nigerians and displacement of plastics imports in the fiscal space were a part of the economic springboard the refinery would bring to the Nigerian economy.
He said, in addition, that it would lead to skills transfer and technology acquisition opportunities with beneficial impacts on the downstream sector.
“This refinery in a sum, is one edifice that will turbo-charge the engine of the Nigerian economy.
“It will also unstrap the strings holding the development of the economy and wade off external and domestic headwinds against efficacies of fiscal and monetary instruments,” he said.
Mr Oyerinde also said that the refinery, with 60 per cent of the production capacity, could meet the entire consumption needs of the country.
He said that the other 40 per cent would be exported, generating a huge amount of foreign exchange.
According to him, this in no small measure, will impact positively on the country’s balance of payment.
“We call on the government and other stakeholders to pay more attention to creating an enabling environment for organised businesses to thrive so that we have more private sector investment to reengineer the nation’s economy,” Mr Oyerinde said.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Anti-Corruption
U.S. businessman jailed for $2 million food fraud scheme
In addition to the prison term, the judge sentenced Mr Madera to one year of supervised release and ordered him to pay over $2.2 million in restitution and forfeiture.
Heading 2
Belgium end U.S. 2026 World Cup dream amid Trump’s red card drama
Spain will play Belgium at the Los Angeles Stadium on Friday after eliminating Cristiano Ronaldo’s Portugal.
Agriculture
Agric ministry demands more vet clinics in Abia, warns against diseased meat consumption
FMLD urged the Abia government to establish additional veterinary clinics to complement the existing federal clinic, ensuring humans are not served diseased meat.
Rights
NLC urges coordinated reintegration for returning migrants
The Nigeria Labour Congress has urged a coordinated reintegration programme for Nigerians returning from abroad, especially those coming back from South Africa.
States
Umuahia: Angry aunt caught with knife in attempted murder of 12-year-old niece
The police command in Abia on Sunday arrested a woman, Gift Nwoko, residing at IBB Housing Estate in Umuahia, for the attempted murder of a girl, Chimamanda Ebo.
Sport
Kano Pillars resume training, target NPFL title
Kano Pillars FC on Monday resumed preparations for the 2026/2027 Nigeria Premier Football League season with their first training session at the Sani Abacha Stadium.
