President, African Development Bank (AfDB) Akinwumi Adesina and his wife Grace Adesina on Sunday visited Dangote refinery and fertiliser plants which are under construction in Lagos.
The duo met billionaire Aliko Dangote and Femi Otedola.
Adesina described the plants as projects that would positively affect Africa’s economic growth and development.
He said that the projects which were far beyond the expectations of his team were the best-industrialised project to happen to Africa.
The top banker noted that the projects could address Nigeria’s foreign exchange deficits and save the country about $9 billion yearly from petroleum products imports.
He added that Dangote is an enigma, who should be honoured for his passion, vision and determination to ensure that the continent is out of the poverty circle.
“One of the things I admire the most about Alhaji Dangote is that he actually believes in Nigeria and Africa and invests his money in Nigeria and Africa,” he said.
“Dangote is quite an inspirational and visionary business leader and for anybody to have done what I have seen here, I think that person deserves world-class kudos for that… I see a company that I will proudly call Africa’s growth accelerator company.
“With this project, we see an acceleration of how to reduce imports, have an outbound on export; a value chain development and how to compete regionally and globally.
“I am completely blown away with what I saw here today as this project will reverse the huge sum the nation spends on foreign exchange.”
On the fertiliser complex, Adesina noted that the three million metric tonnes of urea would make Nigeria totally self-sufficient and become net exporter of fertilisers.
Responding, Dangote revealed that the refinery would commence operation by the third quarter of 2022.
