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Nigerian surveyors thumb up Dangote Refinery, say economic benefits unprecedented

The Nigerian Institute of Estate Surveyors and Valuers (NIESV) has commended the foresight behind the conception of the Dangote’s world largest single Refinery train describing it as real change that will alter Nigeria’s economic landscape for good.

Chairman of the Lagos branch of the Institute, Mr. Offing Samuel Ukpong, expressed surprise at the magnitude of the project after leading his members on a tour of the Dangote Fertilizer and Refinery sites at Lekki Free Trade Zone, Ibeju Lekki, Lagos at the weekend.

He said the economic benefits of the projects to Nigerians and Nigeria would be such that Nigeria would almost transit from a developing country to a developed one on account of the forex that would generated and saved for the nation as opposed to the current trend of importation gulping the nation’s scarce foreign exchange.

He stated that anyone would easily down-play the size of the project until he visits the site, pointing out that what his members saw was inconceivable that an African and a Nigerian was behind such a gigantic project.

Said he: It is the consensus among our members that the Dangote Group has done exceptionally well in the conceptualization and the development of the largest petrochemical industrial complex in the world and located in Nigeria.

“Our conclusion is that Alhaji Dangote is a patriotic visioner, imagine a project that will give Nigerians 60, 000 jobs at a go? Some other persons would rather go outside the country to squander such money. We are solidly behind him and we pray he completes it speedily.

“It is in this vein that we consider it necessary to further project the refinery development and the real estate investment opportunities around it and as the foremost real estate professionals in the country, we need to have firsthand knowledge of the development, hence our coming. And we are grateful for this opportunity.”

Earlier, Mr. Rama Rao, the Dangote Refinery Project Director, who received the team took them through the uniqueness of the Dangote Refinery saying it would on completion refine 650,000 barrels of crude per day, describing it as the single largest train in the world.

The project he also said was being designed to refine variety of crudes and would help Nigeria conserve foreign exchange and would at the same time generate forex for Nigeria.

He also disclosed that the refinery is also coming with a multi million dollar subsea gas project that will provide close to 90 mw electricity.

According to Rao, Dangote is also constructing the Refinery side by side with a fertilizer plant that will produce 3 million ammonia and 3 million urea per annum thus helping in the nation’s agriculture development.

It would be recalled that Dangote has just launched its rice out grower scheme in some states in the North, Jigawa first and Sokoto recently with prospects of providing thousands of jobs for the locals thus help solving the problem of unemployment and poverty in the country.

The Group had also signed an agreement with Sinoma truck of China for the local assembly of trucks in Lagos in place of wholesale importation all in a bid to create opportunities for Nigerians

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