What CBN Governor Godwin Emefiele Said When He Visited Dangote Refinery
If you are a Nigerian company doing business in Nigeria, the Central Bank of Nigeria, CBN wants you to know it is ready for you to facilitate access to foreign exchange to import equipment.
That was the promise the CBN Governor, Mr Godwin Emefiele, made on Sunday when he visited and inspected the Dangote Refinery in Lagos.
The Dangote refinery, when it starts full operation, is expected to be refining 650,000 barrels of crude oil per day (bpd).
The News Agency of Nigeria, NAN reports that the tour of the facility was held at its location within the Lekki Free Trade Zone in Lagos.
Emefiele said that the projects on completion would also be expected to produce 883 KPTA polypropylene plant, three million tons per annum Urea plant and 1,100 kilometres sub-sea pipeline infrastructure.
He said it would transform the Nigerian economy from a net-importer of refined petroleum products to a net- exporter of petroleum products.
The governor said that the support to indigenous companies by the CBN was to ease the importation of equipment needed into Nigeria for production.
“I am extremely delighted on the huge investment and massive progress recorded here in Dangote Petrochemical and Fertilizer Refinery. This shows commitment and readiness for business.
“I have said it before that we will also support any Nigerian companies that take interest in construction and manufacturing of goods in Nigeria.
“CBN will provide funding in terms of foreign exchange and naira to import equipment that will fast-track business activities,” Emefiele said.
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