The $20 billion Dangote Petroleum Refinery and Petrochemicals complex has been lauded by the Committee on Domestic Crude Oil Sales as a transformative national asset, capable of redefining Nigeria’s industrial landscape and liberating the economy from decades of import dependency.

This recognition came during a visit by the Technical Committee of the One-Stop Shop (OSS) for the sale of crude and refined products in naira, as part of ongoing efforts to operationalise the Federal Government’s domestic energy strategy.

The OSS committee, set up to support the implementation of the naira-for-crude oil policy, toured the facility and described it as a bold economic statement and a catalyst for inclusive growth.

Speaking on behalf of the delegation, Coordinator of the OSS Technical Committee, Mrs Maureen Ogbonna, said the facility represented more than just infrastructure, but a symbol of hope and industrial resurgence for Nigeria.

“This refinery touches all our lives. There’s scarcely any sector unaffected. From pharmaceuticals to construction, food to plastics, this project is transformational. God has used the President of the Dangote Group to liberate Nigeria. I see this as the beginning of an industrial revolution,” she said.

Ogbonna stressed the significance of the refinery to the economic agenda of the Tinubu administration, noting that the committee remained committed to addressing all regulatory, operational, and logistical challenges hindering the smooth sale and supply of domestic crude and refined products in local currency.

In his remarks, the President of the Dangote Group, Alhaji Aliko Dangote, lauded the technical committee for its role in advancing the naira-for-crude initiative, which he said was already yielding measurable economic gains.

He said: “The positive impact of the naira-for-crude swap deal on the Nigerian economy” includes reductions in the cost of petroleum products, decreased pressure on the foreign exchange market, and relative stability of the naira.”

However, Dangote said a critical challenge facing the refinery was insufficient domestic crude oil supply, which he said had forced the facility to import crude oil from the United States in recent months to maintain operations.

He reiterated the need for bold investment in strategic sectors to drive long-term national development, noting that the refinery project was backed by a world-class infrastructure network, including a self-sufficient marine terminal designed to accommodate the largest ships globally.

Dangote reaffirmed his commitment to supporting Nigeria’s development goals, noting that the refinery was built to meet the country’s full demand for major petroleum products, including petrol, diesel, kerosene, and aviation fuel, while also serving regional export markets.