The Lagos Chamber of Commerce and Industry (LCCI) has emphasized the positive implications of the collaboration between the Federal Government and Dangote Refinery, stating that it positions Nigeria as an appealing Investment Hub for both Local and Foreign Investors. In anticipation of the Inauguration of the 650,000 barrels per day Refinery, Dr. Chinyere Almona, the Director General of LCCI, expressed her views on the matter.
Dr. Almona highlighted the multiple benefits that the Refinery will bring to the Nigerian Economy. She emphasized that the establishment of the Refinery will have a significant impact, particularly in terms of saving and generating Foreign exchange.
The Refinery’s operations are expected to create employment opportunities, enhance the value of the Naira, foster prosperity within the downstream sector, and open up avenues for business growth.
The LCCI Director-General acknowledged the Refinery’s potential to positively influence the country’s balance of payments, contributing to overall Economic growth. Furthermore, she anticipated that the impact of the Refinery would extend beyond its immediate operations, stimulating growth and development In related Industries such as Cosmetics, Plastics, Textiles, and more. Dr. Almona also recognized the potential for value addition in Agribusiness, specifically through Sugar backward Integration projects, which aim to create a localized supply chain within the Sugar Industry.
This, in turn, would benefit local suppliers involved in the Sugar value chain.
In conclusion, Dr. Almona affirmed that the collaboration between the Federal Government and Dangote Refinery presents Nigeria as an attractive Investment destination, both for domestic and International Investors.
The LCCI recognizes the immense potential for Economic development and growth that the Refinery brings, further solidifying Nigeria’s position as a favorable Investment market.
