August 9, 2022

STATINFO.BIZ

INTERNET PROVIDER BLOG

Dangote Petrochemical Plant to place Nigeria as polypropylene hub in Africa

Aliko Dangote

The Dangote’s $2 billion Petrochemical Plant positioned in Lagos when absolutely operational will place Nigeria as certainly one of Africa’s largest petrochemicals hubs and increase non-oil export earnings for the nation, in accordance with the Dangote Group President, Aliko Dangote.

The 900,000 metric tons each year capability Plant, which is being constructed alongside the 650,000 barrels per day Dangote Petroleum Refinery will produce polypropylene strategically positioned to cater to the calls for of the rising plastic processing downstream industries not solely in Africa but additionally in different components of the world.

Dangote who made this disclosure at 2022 Zenith Financial institution Worldwide Commerce Seminar on Non-oil Export lately in Lagos, mentioned the refinery and petrochemical initiatives will guarantee petroleum merchandise sufficiency and safety for Nigeria.

He emphasised the necessity for presidency to unlock the potential of petrochemical export by finishing the OB3 pipeline to make gasoline accessible to producers. “There may be must prioritize financing gasoline infrastructure, gasoline allocation to the home market and adjustment of fiscal framework to make provide of gasoline to home market enticing for oil firms,” he added.

Dangote disclosed that the refinery reputed to be the biggest single prepare greenfield petroleum refinery on the planet is at a sophisticated stage of completion, and that on completion, it’s anticipated to export far more than 8 million tons of Petroleum merchandise yearly after assembly home consumption, whereas about 900,000 tons of polypropylene can be anticipated from the petrochemical plant.

Associated content material it’s possible you’ll like

See also  Gasoline shortage: Lagos commuters lament as price of transportation spikes