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Monday, March 12, 2018

Dangote $11bn Refinery Raises Fresh Hope for Indigenous Shipowners

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Indigenous shipowners have expressed optimism in the much expected $11 billion Dangote Refinery and Petrochemical Plant in Ibeju-Lekki, Lagos, which they say raises fresh hope of survival for them as they expect freights from the refinery to other parts of the country and abroad would be handled by Nigerian vessels in line with local content policy of the federal government.

The refinery will produce 650,000 barrels per day of refined petroleum products to meet Nigeria's refined petroleum products needs as well as export to other countries. Experts however said when the refinery comes on stream in 2019 as projected, it will provide businesses for indigenous shipowners who would be engaged in the movement of crude and refined products locally and internationally.
LEADERSHIP recall that the Nigerian Maritime Administration and Safety Agency (NIMASA) recently released the Nigeria's Maritime Industry Forecast 2018-2019, which projected that oil tanker fleet size will increase by 1.7 percent in 2019.

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