OGUNCCIMA Applauds Dangote Refinery’s Transformative Impact on Nigeria’s Economy, Private Sector


The Ogun State Chamber of Commerce, Industry, Mines, and Agriculture (OGUNCCIMA) has commended Dangote Refinery for its groundbreaking contributions to Nigeria’s economy and its pivotal role in advancing the private sector. 

As one of Africa’s largest industrial projects, the refinery is reshaping Nigeria’s energy sector while fostering economic growth and innovation across industries.

Lion Niyi Oshiyemi, President of OGUNCCIMA, described the refinery as a “game-changer” for the nation. 

Speaking on its benefits, he highlighted the refinery’s capacity to process 650,000 barrels of crude oil per day, significantly reducing Nigeria's dependency on imported petroleum products, conserving foreign exchange, and enhancing the country's energy security.

“The Dangote Refinery is a testament to the transformative power of the private sector in driving national development. 

“It not only addresses Nigeria’s energy needs but also strengthens the country’s economic resilience,” Oshiyemi said.

Boosting Economic Growth and Employment

The refinery’s operations have created thousands of direct and indirect jobs, stimulating activity across manufacturing, logistics, and other sectors. 

Its emphasis on technology transfer and skills acquisition is equipping Nigerians with expertise to compete globally.

“The refinery fosters opportunities for local businesses while empowering them to grow and innovate. This has broad implications for industrialization and competitiveness,” Oshiyemi added.

By prioritizing local content, Dangote Refinery has supported indigenous enterprises, sourcing materials domestically and encouraging investments in infrastructure, engineering, and technology.

Catalyst for Industrialization and Trade

Beyond energy production, the refinery has catalysed investments in petrochemicals, manufacturing, and transportation. 

This multiplier effect is expanding Nigeria’s industrial base and enhancing the nation’s global economic standing.

In addition to revitalizing domestic industries, the refinery addresses Africa’s energy deficits. 

By producing refined petroleum products domestically and reducing costly imports, it positions Nigeria as a potential exporter of refined products to neighbouring countries, advancing intra-African trade under the African Continental Free Trade Area (AfCFTA).

“This refinery underscores Africa’s potential to address regional challenges through visionary leadership and strategic investments. 

“It positions Nigeria as a leader in regional integration,” Oshiyemi remarked.

Corporate Social Responsibility and Future Outlook

Dangote Refinery’s contributions extend to social development. Investments in education, healthcare, and infrastructure have positively impacted local communities, aligning with its commitment to corporate social responsibility.

“Through its initiatives, Dangote Refinery demonstrates that economic growth can coexist with social progress, building a brighter future for Nigerians,” Oshiyemi said.

Recently, the refinery slashed the price of petrol to ₦970 per litre for oil marketers, with further reductions anticipated. 

This move underscores its commitment to providing affordable energy solutions while supporting economic stability.

Call for Collaboration

OGUNCCIMA urged stakeholders across public and private sectors to replicate the refinery’s success by fostering partnerships and investing in transformative projects.

“This refinery is a model of what is possible when the private sector leads with vision and commitment. We must collaborate to build a resilient and self-reliant Nigeria,” Oshiyemi concluded.

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