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Dangote refinery will save Nigeria $10bn —Finance Minister

Finance Minister allays fear over gov borrowings, says N25.7tr debt not worrisome

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said on Sunday the Dangote Refinery would save the country over $10 billion spent on crude importation when it comes on stream.

She added that the refinery would provide thousands of jobs for Nigerians when it becomes operational.

The minister, who stated this when she was conducted round the ongoing Dangote Petroleum Refinery, Petrochemical complex, fertilizer plant, and Subsea gas pipeline projects, added that the government would continue to provide enabling environment for local businesses to grow.

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Ahmed said: “We are very confident that once Dangote refinery commence operation it will save us over $10 billion Nigeria spent on importing crude oil and also help to build local capacity and create jobs. The money we save will help to strengthen our macroeconomy and this will, in turn, encourage investors to come in.

The minister, who also inspected the ongoing Apapa-Oshodi-Ojota-Oworonsoki Expressway project, however, assured the Dangote Group of the Federal Government support in ensuring the successful take-off of the project.

She added: “We are going to be providing some intervention in the area of duty and some tax waver which is available to every organization in that sector and part of my visit is to see the benefit of incentive we have been providing.”

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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