Jumoke Oduwole, Nigeria’s Minister of Industry, Trade, and Investment, has described the Dangote Refinery as a strong show of private sector confidence in the nation’s economy.
She made the comment on Saturday after touring the multibillion-dollar facility. Aliko Dangote, President of Dangote Group, led the inspection.
In a post shared on her official X account, Oduwole noted that the $20 billion complex offers more than oil refining alone.
“This $20 billion investment is far more than a refinery. It is a bold statement of confidence in Nigeria’s economy,” she said.
According to her, the facility is transforming multiple sectors.
“For example, from urea and fertilizer that power our agricultural base, to CNG and refined petroleum products that meet domestic needs and drive exports, this facility is unlocking entire value chains,” she said.
She also highlighted that the project is generating thousands of jobs across industries.
Moreover, Oduwole reaffirmed the federal government’s support for large-scale local investments.
“This administration remains steadfast in backing Nigerian investors who build industries of scale and position our nation as a growth engine for Africa,” she added.
The Dangote Refinery, located in the Lekki Free Zone in Lagos, can refine up to 650,000 barrels of crude oil per day.