Mohammed Shosanya
The Lagos Chamber of Commerce and Industry,LCCI,has said that the multi-million dollars Dangote Refinery in Lekki,Lagos will impact Nigeria’s economy positively.
Dr.Chinyere Almona,Director-General,LCCI,disclosed this in a statement ahead of the inauguration of the 650,000 barrels per day, sufficient to meet Nigeria’s need for refined petroleum products,sufficient to meet Nigeria’s need for refined petroleum products.
According to her,the refinery will save and generate foreign exchange,create jobs, positively affect the value of the Naira, broaden prosperity for the downstream sector, and provide growth opportunities for businesses.
She added:” It will also stimulate economic growth by impacting the country’s balance of payments. In addition, the Chamber expects the refinery to fuel further growth and development across its value chain, including cosmetics, plastics, textiles, etc.
” We also see room for the development of added value in agribusiness, including the Sugar Backward Integration projects that plan to create a strong localized supply in the sugar industry, benefiting local suppliers across the sugar value chain.
“Finally, the Chamber notes that this initiative presents Nigeria as an attractive investment destination for local and foreign investors. Therefore, the LCCI urges the government to strengthen its commitment to creating an enabling environment for businesses”
