The National Assembly has said the oil refinery being built by Dangote Group will strengthen the Nigerian currency and prevent economic doom when it comes on stream.
The legislature said this on Tuesday during an inspection visit to the site of the Dangote refinery, petrochemicals complex, fertilizer plant and subsea gas pipeline projects in Ibeju Lekki, Lagos.
The Chairman, Senate Committee on Petroleum Industry Bill, Mr Sabo Nakuda, said, “With the new PIB coming up, we intend to visit all the other refineries, not only Dangote refinery.
“We were in Kaduna yesterday (Monday). We are going to Port Harcourt and Warri so that we know what the industry entails and what needs to be done to be captured in the bill so that there will be ease of operations.”
Commenting on the Dangote refinery, he said, “I’m totally overwhelmed. And looking at this investment here, it is unbelievable that a single individual can confront this kind of project at this time of our economic life.”
Nakuda said apart from the jobs being created by the projects, “I’m sure that by the time this refinery comes on stream, even the local currency is going to be strengthened because we spend millions of dollars importing finished petroleum products.”
He said the National Assembly would give the project the necessary support.
“If you don’t help this industry, this refinery to come on stream, then, it means the Nigerian economy is going to be doomed,” he added.
On the PIB, he said the lawmakers were working assiduously to ensure its passage within the next two months.
Credit: punchng.com
