We Are Proud Of You, Osinbajo Tells Dangote On Move To Construct 650,000 Barrels Refinery

Vice President Yemi Osinbajo has praised the President of Dangote Group, Alhaji Aliko Dangote for the ongoing construction of the Dangote Refinery with the capacity to refine 650,000 barrels a day.
He added that the government is proud that a Nigerian company has undertaken to construct such a gigantic refinery and the largest in the world.
Speaking today, Monday, at the ongoing Nigerian Economic Summit in Abuja, the Vice President said: “once the Dangote refinery comes on stream, it will help with the forex issue and create jobs for our people.”
Osinbajo who described the Dangote Group as an example of a game changer that has been supporting the economy in many areas, said that the Muhammadu Buhari government has a very clear policy and objective, even as he urged Nigerians to have confidence in the government change mantra.
Declaring the summit opened, President Muhammadu Buhari said that the private sector is key to his administration.
He noted that the theme for the 22nd summit: ‘Made in Nigeria,’ is apt in view of the need to look inward and support local manufacturers.
Chairman of the Nigerian Economic Summit Group(NESG), Alhaji Kyari Bukar also commended the Dangote Group for its sponsorship, saying that the private sector is the engine of the economy.
He said that the summit would provide opportunity “to tell ourselves the bitter truth and swallow the hard truth.”
Minister of Budget and National Planning, Senator Udoma Udo Udoma said that the government as a regulator, is not only interested in policing the private sector but providing the enabling environment for local businesses to thrive.
“We concede that the private sector is the true engine of growth.”
An Associate Professor from the Lagos Business School, Doyin Salami said that the Made in Nigeria concept was apt but that it must cover production, global competitiveness, inclusiveness and value addition to global economy.
He regretted that the economy is shrinking and contracting, “and worse than stagflation.
“We don’t live in the past. It is not what has been done that matters. But what remains to be done,” he said.
Minister of Mines and Steel Development, Dr. Kayode Fayemi said that his ministry is bringing in big ticket player into mining sector, just as he said that the sector has great potentials as Nigeria diversifies its economy.
According to Dr Fayemi, the Buhari government has pruned down the cost of governance.
The Dangote Group is one of the major sponsors of the three-day Nigerian Economic Summit in Abuja. [myad]