Mansur Manu Soro, the member representing Darazo/Ganjuwa federal constituency of Bauchi State, has said the refinery being built by the Dangote Group and the $1.2 billion planned turnaround maintenance of existing ones will put Nigerian economy back on its feet.
He disclosed this yesterday after his tour of the Dangote Refinery and other government-owned refineries in Port Harcourt, Warri and Kaduna.
According to him, oil refineries in the country require total rehabilitation to return to full production capacities and generate revenues for the government.
He sad Nigeria had wasted nearly N10 trillion ($26.2 billion) of its scarce forex in just 10 years, subsidising petrol while it cost Dangote Group $15billion to build a 650,000- barrel per day refinery as part of a petrochemical complex that also houses a gas processor and the world’s biggest plant for ammonia and urea.
“The Dangote Refinery is expected to come on stream later this year to meet Nigeria’s demand for petroleum products, export the excess and conserve our scarce resource, among other multiplier effects,” he said.