The Dangote’s $2 billion Petrochemical Plant located in Lagos when fully operational will position Nigeria as one of Africa’s largest petrochemicals hubs and boost non-oil export earnings for the country, according to the Dangote Group President, Aliko Dangote.
The 900,000 metric tons per annum capacity Plant, which is being built alongside the 650,000 barrels per day Dangote Petroleum Refinery will produce polypropylene strategically positioned to cater to the demands of the growing plastic processing downstream industries not only in Africa but also in other parts of the world.
Dangote who made this disclosure at 2022 Zenith Bank International Trade Seminar on Non-oil Export recently in Lagos, said the refinery and petrochemical projects will ensure petroleum products sufficiency and security for Nigeria.
He emphasized the need for government to unlock the potential of petrochemical export by completing the OB3 pipeline to make gas available to manufacturers. “There is need to prioritize financing gas infrastructure, gas allocation to the domestic market and adjustment of fiscal framework to make supply of gas to domestic market attractive for oil companies,” he added.
Dangote disclosed that the refinery reputed to be the largest single train greenfield petroleum refinery in the world is at an advanced stage of completion, and that on completion, it is expected to export much more than 8 million tons of Petroleum products annually after meeting domestic consumption, while about 900,000 tons of polypropylene is also expected from the petrochemical plant.