Nigerians would have bought fuel for N10,000 per litre if not for the Dangote Refinery.

It will be recalled that the war between Iran and the United States, which led to the closure of the Strait of Hormuz, has placed many countries of the world in economic hardship and an increase in the pump prices.

Reacting to the development, in a statement, the traditional ruler of Iwo, Osun State, the Oluwo of Iwo, Oba Abdulrasheed Adewale Akanbi, said Nigerians should be grateful to Dangote Refinery for stabilising Nigeria’s economy.

Oluwo commended the President of Dangote Group, Alhaji Aliko Dangote, for saving Nigeria’s economy from imminent collapse.

“His investment in Dangote Refinery contributed immensely to rescue the entire nation’s economy from  crumbling,” Oluwo said.

The monarch observed that despite humongous exportation of Dangote fuel, many great nations are almost running out of their fuel reserves.

“God loved us to have blessed us (Nigeria) with a Nigerian, a black man, who personally financed a private refinery exporting fuel to advanced countries of the world.  Nigerians that matter are acknowledging, supporting, and praying for   Dangote for extricating Nigerians from an economic quagmire that would have consumed many,” Oluwo stated further.

According to him, without Dangote Refinery, Nigerians would have bought a litre of petrol at N10,000, a scenario, he observed, would have impacted negatively on common men.

“Nigerians enjoy one of the lowest fuel prices in the world, courtesy of Dangote Refinery. A Nigerian gave the black race the negotiating power in deciding the fate of our economy.

“The US- Iran war heightened the economic tension. It was an emergence no one planned for.  At such a critical moment, a black man was among the very few who sustained the world economy and arrested fuel scarcity. Much good news is coming from his refinery.

“Some days ago, Dangote Refinery shook the world by announcing the expansion of its production capacity from 650,000 barrels per day to 700,000  barrels per day, with a projection to be the largest fuel refinery hub in 2028 to produce 1.4m barrels per day.  The expansion project was confirmed a few days ago during the performance test conducted by the refinery’s process licensors, as revealed by the Vice President of Oil and Gas at Dangote Industries Limited,  Devakumar Edwin,” the monarch said.

Oluwo observed that the development marks a significant operational milestone for the refinery, which is widely regarded as the world’s largest single-train petroleum refining facility.

“This development will undoubtedly restore our glory as the giant of Africa and place our nation as the envy of many great nations.

“It should be a pride that the Dangote oil facility now supplies both domestic and international markets, exporting refined products to several African countries and to European destinations, including the United Kingdom, France, Spain, Italy, and the Netherlands. Refined products from the facility have reached markets in the United States, while jet fuel exports have extended to Saudi Arabia.

The global oil inflation occasioned by the US-Israel-Iran war posed the greatest threat to the global economy, Nigeria inclusive. Dangote has been honoured abroad. He should be celebrated more at home,” the monarch added.

While commending President Bola Ahmed Tinubu for giving necessary support for the refiner, Oluwo, therefore, sought continuous collaborative efforts to ensure the refinery becomes the biggest as projected by the President of Dangote Group.

“Nigerians should rise to applaud this honourable man. Many of us with vast knowledge of the international economy always give both physical and spiritual support to Dangote.

“Dangote is the first black man to achieve such a giant economic reach. I am proud of him.  For this unprecedented feat and his business tenacity, I honour and declare Alhaji Aliko Dangote as Chief Atayero of Nigeria (The Refiner of Nigeria,” Oluwo concluded.