Monarch highlights Dangote refinery’s role in fuel supply

The Oluwo of Iwo, Oba Abdulrosheed Akanbi, has commended the President of Dangote Group, Alhaji Aliko Dangote, for the role of the Dangote Petroleum Refinery in Nigeria’s fuel supply chain, describing the facility as a major contributor to economic stability amid global energy market volatility.

In a statement issued on Thursday by his Chief Press Secretary, Alli Ibraheem, the monarch said the refinery had helped cushion the impact of rising global fuel prices and supply disruptions on the Nigerian economy.

He said, “God loved us to have blessed us (Nigeria) with a Nigerian, a black man, who personally financed a private refinery exporting fuel to advanced countries of the world.

“Nigerians who matter are acknowledging, supporting, and praying for Dangote for extricating Nigerians from an economic quagmire that would have consumed many. Without Dangote refinery, Nigerians would have bought a litre of petrol at 10,000.

“I used to imagine the fate of common men should a litre of petrol be sold at such an outrageous amount, considering the global rise in fuel per barrel. Nigerians enjoy one of the lowest fuel prices in the world courtesy of Dangote Refinery.”

The monarch said the United States-Iran war heightened economic tensions globally and created additional pressure on energy markets. “At such a critical moment, a black man was among the very few who sustained the world economy and arrested fuel scarcity. Much good news is coming from his refinery,” he added.

Oluwo also hailed the refinery’s reported expansion of production capacity from 650,000 barrels per day to 700,000 barrels per day, with a projection to reach 1.4 million barrels per day by 2028.

According to him, the development marks a significant operational milestone for the refinery, which he described as the world’s largest single-train petroleum refining facility. “The development will undoubtedly restore our glory as the giant of Africa and place our nation as the envy of many great nations.

“For this unprecedented feat and his business tenacity, I honour and declare Alhaji Aliko Dangote as Chief Atayero of Nigeria (The Refiner of Nigeria). Dangote has been honoured abroad. He should be celebrated more at home,” he said.

Oluwo said the global oil inflation occasioned by the US-Israel-Iran war posed a threat to the global economy, including Nigeria. The monarch also commended President Bola Tinubu for supporting the refinery and called for continued collaborative efforts to ensure it achieves its projected expansion targets.

He urged Nigerians to applaud Dangote, saying many people with knowledge of the international economy continued to support him physically and spiritually. Describing Dangote as the first black man to achieve such economic reach, Oluwo said he was proud of the businessman.