New refinery may transform Nigerian economy, if it gets enough oil - News Summed Up

New refinery may transform Nigerian economy, if it gets enough oil


Photographer: Tom Saater/Bloomberg via Getty ImagesCommissioning Africa’s largest refinery was supposed to have been one of the first ribbon cuttings of Muhammadu Buhari’s presidency. At the ceremony, Buhari described the refinery — the largest and most modern in Africa — as a significant milestone for the country. The Dangote refinery is expected to buy Nigeria’s crude oil for the same price that it would be sold overseas. The government, which owns a 20% stake in the Dangote refinery, owns four other refineries, all of which are in disuse. Instead, projects such the Dangote refinery would increase carbon emissions, as well as local air pollution.


Source: The Guardian May 31, 2023 22:18 UTC



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