The Independent Petroleum Marketers Association of Nigeria ( IPMAN), western zone, says the 18 billion dollars Dangote refinery will boost the country’s foreign investment when it finally comes on stream.
The Zonal Chairman, Alhaji Debo Ahmed, disclosed this on Wednesday in an interview with newsmen in Lagos against the backdrop of arrears of N800 billion government owed marketers on subsidy.
The Dangote refinery, which has the capacity to refine 650,000 barrels of crude oil per day with petrochemical plant which will produce 780 KTPA Polypropylene, 500 KTPA of Polyethylene, is expected to come on stream by 2019.
Ahmed said the multi-billion dollar project, when completed, would finally address the challenges facing the downstream sector of the oil and gas industry and also aid the nation’s economy.
He said that the refinery would also attract more foreign investments into the country’s economy and boost oil and gas revenue , while urging Federal Government to intensify support for the actualisation of the project.
The IPMAN boss urged government to formulate policies that would liberalise the market to promote downstream sector.