The Ogun State Chamber of Commerce, Industry, Mines, and Agriculture (OGUNCCIMA) has lauded Dangote Refinery for its remarkable contributions to Nigeria’s economy, including the recent reduction of petrol prices to N970 per litre for oil marketers.
Speaking on the development, OGUNCCIMA President Lion Niyi Oshiyemi praised the refinery for its pivotal role in addressing Nigeria’s energy challenges while fostering sustainable growth across key sectors of the economy.
“The decision by Dangote Refinery to reduce petrol prices is a bold and commendable move that reflects its dedication to supporting the Nigerian economy,” Oshiyemi said. “Beyond this, its operations have redefined the energy landscape by reducing reliance on imports, conserving foreign exchange, and ensuring energy security.”
The refinery, which boasts a daily refining capacity of 650,000 barrels of crude oil, has not only provided relief to oil marketers but also spurred job creation, technology transfer, and local business growth through its emphasis on sourcing materials locally and collaborating with indigenous companies.
“By partnering with local enterprises and prioritizing local content, Dangote Refinery has empowered small businesses, accelerated industrialization, and boosted infrastructure development. Its impact is evident across sectors such as petrochemicals, logistics, and manufacturing,” Oshiyemi added.
OGUNCCIMA also highlighted the refinery’s significant contributions to improving Nigeria’s trade balance. With its capacity to produce refined petroleum products domestically, the refinery has reduced Nigeria’s reliance on costly imports and positioned the country as a potential exporter within Africa’s growing market.
“This refinery is a game-changer not just for Nigeria but for Africa as a whole,” Oshiyemi remarked. “Its efforts align with the goals of the African Continental Free Trade Area (AfCFTA), promoting intra-African trade and addressing critical energy deficits.”
In addition to its economic benefits, OGUNCCIMA acknowledged the refinery’s corporate social responsibility initiatives, which have positively impacted healthcare, education, and infrastructure in host communities.
“Dangote Refinery exemplifies the private sector’s ability to drive social progress alongside economic development. This holistic approach is essential for Nigeria to achieve sustainable growth,” Oshiyemi noted.
OGUNCCIMA called on both public and private sector stakeholders to emulate Dangote Refinery’s innovative strategies, urging investments in transformative projects that enhance national self-reliance and industrial growth.
“This refinery is a shining example of what can be achieved through visionary leadership and strategic investments,” Oshiyemi concluded. “We encourage all stakeholders to collaborate in replicating such success stories to secure a prosperous future for Nigeria.”
