Nigeria is set to reap a massive benefit from the just commissioned Dangote refinery located in Ibeju-Lekki axis of Lagos State.
This is the belief of a business analyst, Gamaliel Tanimuno.
On iBrand TV’s Business Breakfast show, Tanimuno said the refinery project was a step in the right direction.
According to him, it would impact Nigeria’s economy positively.
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Tanimuno, described the Dangote refinery project as a public private partnership (PPP) that has the capacity to turn around the current terrible tide of the country’s economy.
Economic Benefits of Dangote Refinery
Tanimuno highlighted a couple of economic benefits Nigeria stands to gain from Dangote refinery.
Here are four that are major for him.
- When the Dangote refinery fully kicks-off, it will reduce Nigeria’s dependence on importation.
- It will also reduce the pressure on the country’s local currency the Naira.
- Also a lot of direct and indirect jobs to the tune of over 9000 will be created for both the skilled and semi-skilled Nigerians.
- The value chains of opportunities that will be derived from the bi-products of petroleum which we have not scratched the surface at all.
According to him, PPP is a model of investment that government all over the world are using to drive huge economic growth.
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He said he is highly excited with the achievement of the project, considering that a huge sum was expended on the refinery which has now come to stay.
Tanimuno, believes that there is still a lot of gains to be derived from the bi-products of petroleum.
For instance, manufacturers of beauty products in Nigeria can heave a sigh relief.
