June 26, 2016/The Will

Vice President Yemi Osinbajo (SAN) has revealed that the refinery, petrochemical, gas and fertilizer projects being undertaken by Aliko Dangote, Africa’s richest man would be a major strategic asset for Nigeria.

Osinbajo, who spoke to journalists during a visit to the Lekki free trade zone said the project as a whole is an incredible industrial undertaken being the largest and the most ambitious in Africa.

“This is incredible if that can be done because it would be a major strategic asset for Nigeria, it would boost our power supply tremendously,” Osinbajo said.

Akinwunmi Ambode, Governor of Lagos, also added that the Dangote Group’s refinery projects will create 235,000 jobs upon completion.

“Apart from the 135,000 direct jobs that will be created from the projects, another 100,000 indirect jobs would be generated while income accruable to the federal government would be in the region of over $500million in three years,” he said.

“Firstly, there is a refinery project that is ongoing, second there is a petrochemical project that is also ongoing.

“There is pipeline transfer project that brings gas from Bonny down to Olokonla and down to Lekki and then the fourth one is the fertilizer project all in one location.

“The coming of the Vice President to inspect this project is instructive and a sign post that the Federal Government is in support of what is going on.

“The truth is this, we might not be able to show you all that is going on here but in another few weeks, we will do an aerial view of this project and also do a documentary because for the very first time we are going to have a Petrochemical project that is coming on stream by December 2017.

“A Refinery that is coming on stream by the first quarter of 2019 and also the gas project that is coming on stream by 2018. You can just imagine or visualize what that means to the economy of Lagos.

“It is important that we understand the depth of what has happened here and also use it as a platform to encourage other investors that Lagos is on the rise and the future of Lagos is very bright.”

Also present at the visit were Kemi Adeosun, Minister of Finance; Kayode Fayemi, Minister of Solid Minerals; Babatunde Fashola, Minister of Power, Works and Housing and Okechukwu Enelamah, Minister of Industry, Trade and Investment.

Story by David Oputah