Godwin Emefiele, Governor of the Central Bank of Nigeria, said the recently launched Dangote Refinery will have an influence on the Nigerian economy and assist the country generate 12, 000 additional Megawatts of power.
On Monday, Emefiele provided this guarantee during the launching of the refinery in Lagos.
The CBN governor also noted that once operations begin, approximately 135,000 permanent employment will be accessible to Nigerians.
According to him, the refinery is estimated to save Nigeria between $25 and $30 billion in FX yearly.
Emefiele stated that, like a never-ending endeavor, the refinery will provide $10 billion to the economy each year.
He highlighted the Dangote Refinery as proof that Nigeria can create anything it requires.
President Muhammadu Buhari commissioned the Dangote Petroleum Refinery and Petrochemical Project, a subsidiary of Dangote Industries Limited controlled by Aliko Dangote, earlier today (Monday).
The plant is located at Dangote Industries Free Zone, Ibeju-Lekki, Lagos, and is anticipated to process crude oil grades from Africa, Asia, and America, with a daily excess of over 38 million litres of petrol, diesel, kerosene, and aviation fuel for Nigeria.
The refinery will also process 650,000 barrels of crude oil per day, converting crude oil into various petroleum products such as diesel, gasoline, jet fuel, and kerosene.
The refinery will generate gasoline and diesel of Euro-V standard, as well as jet fuel and polypropylene.