Nigeria's President Muhammadu Buhari has officially opened a $19bn (£15bn) single-train oil refinery - the largest of its kind in the world and built by Africa’s richest person, billionaire businessman Aliko Dangote.
The government hopes the refinery will turn Nigeria, Africa's biggest oil producer, from an importer of refined fuels to an exporter and put an end to recurring fuel shortages while creating tens of thousands of jobs.
The size of about 130 football fields, Dangote Industries has billed it as the world's largest single-train petroleum refinery, meaning it will have only one crude distillation unit.
The project, launched in 2017, is located in the Lekki area of Lagos State, off the Atlantic Ocean, and is expected to process 650,000 barrels of crude oil a day.
The refinery, 20%-owned by the state, is not expected to operate at full capacity until 2024.
"At full capacity it can meet 100% of the Nigerian requirement of all refined products and also have surplus for export," Dangote Industries said in a statement last week.
Mr Buhari is commissioning the plant in one of his last public acts before he steps down as president next Monday following two terms in office.
He will hand power to Bola Tinubu, who won disputed presidential elections in February.
Nigerian oil and gas consultant Henry Adigun told the BBC that Monday's event was "more political than technical".
"There is still a lot more work to do in terms of permits and licences. I don’t think the refinery is at the stage where we will start enjoying the benefit as Nigerians," he said.
Latest Stories
-
I am not ready to sign any artiste to my record label – Kuami Eugene
7 mins -
Gov’t spokesperson on governance & security calls for probe into ballot paper errors
10 mins -
Free dialysis treatment to be available in 40 facilities from December 1 – NHIA CEO
24 mins -
NHIA will need GHC57 million annually to fund free dialysis treatment – NHIA CEO
30 mins -
MELPWU signs first-ever Collective Agreement with government
56 mins -
I’ve not been evicted from my home – Tema Central MP refutes ‘unfounded’ reports
57 mins -
After Free SHS, what next? – Alan quizzes and pledges review to empower graduates
1 hour -
Wontumi FM’s Oheneba Asiedu granted bail
2 hours -
Alan promises to amend the Constitution to limit presidential powers
2 hours -
Ghana to face liquidity pressures in 2025, 2026 despite restructuring most of its debt – Fitch
2 hours -
NPP’s record of delivering on promises is unmatched – Bawumia
2 hours -
Mahama: It’s time to dismiss the incompetent NPP government
2 hours -
‘It’s extremely embarrassing’ – Ernest Thompson on Ghana’s AFCON failure
2 hours -
Today’s front pages: Monday, November 25, 2024
2 hours -
T-bill auction: Government misses target again; interest rates continue to rise
2 hours