Dangote Refinery Commissioning Not Part of Buhari’s Itinerary in Lagos, Dangote Group Reacts

Dangote Refinery Commissioning Not Part of Buhari’s Itinerary in Lagos, Dangote Group Reacts

  • The Dangote Group has debunked reports that President in Lagos to Commission the Dangote Refinery
  • The group said the report was misleading, stating that the refinery is not part of Buhari’s tour in Lagos
  • However, it said the 650,000 barrels per day refinery would be commissioned this year

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Dangote Group has reacted to the report by some media outlets in Nigeria that President Buhari would commission the Dangote Refinery during his two-day visit to Lagos.

The group said that the refinery commissioning was not in the President’s itinerary in the state.

Dangote Refinery, President Buhari, Lagos
Aliko Dangote, President of Dangote Group Credit: Bloomberg/Contributor
Source: Getty Images

Dangote Group dissociates refinery from reports

In a statement sent to Legit.ng, the group referred to the reports as misleading and stated that the date for the commissioning would be announced to the general public in due course.

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Dangote said:

“Our attention has been drawn to some misleading reports regarding the commissioning of our Dangote Refinery during the present working visit of President Muhammadu Buhari GCFR to Lagos State.
We want to state categorically that our 650,000 barrels per day (bpd) Refinery project was never part of the President’s programme on projects to be commissioned.”

Legit.ng had earlier reported that a source at Dangote Group confirmed that the reports of commissioning which were first shared by BusinessDay is false.

The source noted that the reports are fake and the date of the commissioning has not been set.

Refinery to be commissioned before 'Buhari leaves office'

Some of the media outlets that reported the supposed event have already deleted their posts.

“However, our Refinery will be commissioned before President Muhammadu Buhari GCFR formally leaves office in May 2023, and the public will be duly informed and invited to the epic event,” the Group said.

President Buhari has been in Lagos on a two-day working visit which saw him commission a number of projects including the Lagos Blue Rail line, the Imota Rice Mill and the Lekki Deep Seaport, among other projects.

Dangote set to borrow N112 billion from Nigerians to complete refinery project, full repayment date in 10yrs

Legit.ng reported that Dangote Industries Limited has resolved to borrow N112 billion from investors to complete its refinery project.

To complete the project, the company requires an additional $1.1 billion to be partly funded by the new bond this year.

The N112 billion balance is the N300 billion bond raised by DIL in July 2021.

Source: Legit.ng

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