Industry Minister Jumoke Oduwole Tours Dangote Refinery, Says Project Signals Confidence in Nigeria’s Economy

Ms. Jumoke Oduwole, the minister of industry, trade and investment, says the Dangote refinery is a signal of private sector confidence in Nigeria’s economy.

Oduwole spoke on Saturday after touring the multibillion-dollar facility, with Aliko Dangote, president of Dangote Group, leading the inspection.

In a post on X, the minister said the $20 billion complex goes beyond crude oil refining.

“This $20 billion investment is far more than a refinery. It is a bold statement of confidence in Nigeria’s economy,” Oduwole said.

“From urea and fertilizer that power our agricultural base, to CNG and refined petroleum products that meet domestic needs and drive exports, this transformative facility is creating thousands of jobs and unlocking entire value chains.”

The minister said the federal government remains committed to supporting large-scale domestic investments that could help position Nigeria as a regional economic hubs.

“This administration remains steadfast in supporting Nigerian investors who are building industries of scale and positioning our nation as a true engine of growth for Africa,” she added.

The Dangote refinery, located within the Lekki free zone, refines up to 650,000 barrels of crude oil per day.