By Ayomide Otitoju
The Federal Government has described the Dangote Petroleum Refinery and Petrochemicals complex as a major pillar in Nigeria’s ambition to achieve a $1 trillion economy, pledging stronger collaboration with private investors to boost industrialisation, job creation and economic growth.
Minister of State for Industry, Senator John Owan Enoh, stated this on Thursday during a high-level inspection tour of the 700,000 barrels-per-day Dangote Petroleum Refinery, Dangote Petrochemicals and Dangote Fertiliser facilities in Lagos.
Enoh said the integrated industrial complex represents one of Africa’s biggest private-sector investments and reflects the kind of large-scale manufacturing needed to drive Nigeria’s economic transformation.
“You cannot be Minister in charge of Industry and not visit the Dangote Refinery,” Enoh said, describing the facility as a symbol of Nigeria’s growing industrial capacity and value-addition efforts.
The minister noted that the refinery has helped change Nigeria’s position in the global energy market by supporting the transition from importing refined petroleum products to exporting them.
He added that the visit provided government officials with deeper insight into the scale, technology and strategic importance of the project, while reaffirming the ministry’s commitment to supporting industrial growth.
Enoh dismissed concerns about the refinery’s single-train configuration, saying operations have continued despite scheduled maintenance activities.
He also pledged continued government engagement with Dangote Industries Limited through industrial platforms and ministerial discussions to address challenges affecting manufacturers, including access to affordable long-term financing.
The minister praised Africa’s richest businessman, Aliko Dangote, for his contribution to Nigeria’s industrial development and support for the Nigeria Industrial Policy, which aims to raise manufacturing’s contribution to GDP to about 20 per cent by 2030 and 25 per cent by 2035.
Speaking during the tour, Dangote urged the Federal Government to make industrialisation the foundation of its economic strategy, stressing that no country has achieved sustainable prosperity without a strong manufacturing sector.
“There is no way to create jobs and prosperity without industrialisation,” Dangote said, adding that successful local businesses encourage foreign investors by demonstrating confidence in the economy.
He disclosed that Dangote Industries recently secured an unsecured and unrated bond at rates below Nigeria’s sovereign benchmark, describing the development as evidence of growing investor confidence in Nigerian companies.
Dangote also commended Enoh’s commitment to industrial development, saying consistent government policies remain critical to attracting investment and supporting businesses.
Reflecting on the refinery project, Dangote described it as the biggest business risk of his life, noting that the project faced challenges including the COVID-19 pandemic, foreign exchange pressures and doubts from financiers.
He said the refinery’s completion demonstrates the ability of Nigerian entrepreneurs to deliver globally significant projects, adding that its full operation will significantly increase Nigeria’s refining capacity and economic strength.
Dangote urged the government to continue supporting indigenous investors, describing them as key drivers of employment, foreign exchange earnings and long-term economic resilience.
He said achieving Nigeria’s goal of becoming a trillion-dollar economy would require industrialisation driven by strong partnerships between government and private sector leaders.
