Dangote Oil Refinery has been listed among the world’s top 20 influential projects surveyed in the last 18 months by the renowned Project Management Institute (PMI).
It was selected for its potential to fuel Nigeria’s economic transformation from importer to a self-sustaining powerhouse, said a statement.
PMI, which disclosed this recently in its annual list of Influential Projects for 2020, said that “Most Influential Projects” highlights compelling projects around the world and across industries that achieved significant milestones and impacted the society.
The 2020 Most Influential Projects list identifies the noteworthy projects that have defined the past year—a year that has been dramatically transformed by the global coronavirus pandemic. Many of the projects on this year’s list reflect the ingenious ways project managers and change-makers have kept the initiatives moving forward in the face of unexpected obstacles and challenges.
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PMI’s Vice President of Global Engagement, Otema Yirenkyi said Dangote Refinery, when completed in 2021, would be the largest oil refinery in Africa and one of the largest in the world, processing 650,000 barrels of crude oil per day and creating nearly 35,000 jobs.
“But its benefits run deeper than that. By creating a self-sustaining supply of high-quality refined petroleum products, the project will reduce the country’s reliance on imports and help stabilize its currency and aid in the fight against poverty,” he said.
While speaking on why he chose the project, Yirenkyi said Nigeria exports raw materials and imports finished products, a situation that leaves the country relying on other countries and in poverty.
“The Dangote Refinery turns that model on its head, allowing Nigeria to not only produce oil but also refined petroleum products that have always been in short supply. In the true sense of the word, the project is transformative,” he added.
