The Executive Secretary of the African Refiners and Distributors Association, Anibor Kragha, has described the 650,000 barrels per day (bpd) oil refinery construction project being undertaken by the Dangote Group in Lagos, Nigeria, as a welcome development that would transform the petroleum industry in Africa.
Delivering remarks at a webinar hosted by the Ghana Chamber of Bulk Oil Distributors with executives from the Dangote Group, Mr. Kragha said: “What the Dangote Refinery represents is essentially a paradigm shift in how refining takes place on the continent – it is essentially the refinery of the future, and it is transforming the industry.”
According to him, the establishment of Dangote Refinery will play a key role in the pan-African effort to ensure sustainable energy security for the continent.
He however stressed the need for a sustainable finance plan for the Dangote Refinery and others like it.
“We must have the funding in place to operate our refineries to produce and transport cleaner fuels,” Mr. Kragha said. “We must have that in place, and we need to ensure that we work with all the stakeholders to do that.”
He commented that Dangote’s production of cleaner fuels is a game-changer and contributes to achieving a harmonised pan-African front in the production of high-quality fuels that meet the standards African countries have set for themselves.
“It is what we need because if we do not do it, I can assure you that in the next 10 years, Africa will have a public health disaster on its hands,” Mr Kragha said.