Billionaire Femi Otedola has congratulated his friend, the richest man in Africa, Aliko Dangote as his Lagos refinery starts production of diesel and aviation fuel.
The refinery which was commissioned in May 2023 by the former president of Nigeria, Muhammadu Buhari, commenced production of Automotive Gas Oil, also known as diesel, and JetA1, also known as aviation fuel on January 13, 2024. The refinery is yet to begin the production of petroleum as a result of a delay in the supply of crude oil. The Dangote refinery which is located in Lekki Free Trade Zone, can refine 650,000 barrels of crude oil per day.
Dangote thanked the financers of the project including National Petroleum Company Limited (NNPC), the Nigerian Upstream Petroleum Regulatory Commission, Nigerian Midstream and Downstream Petroleum Regulatory Authority, and Nigerians for their support as well as President Tinubu and the Lagos State governor, Babajide Sanwo-Olu for their support towards the completion of the project.
Femi Otedola, who is also a key player in the oil sector, took to his Instagram page to congratulate his friend on the commencement of operations at the refinery, describing it as a beacon of hope. With this new development, Nigerians hope for a reduction in the price of petroleum.