The Oluwo of Iwo, Oba Abdulrosheed Akanbi, has praised the President of Dangote Group, Alhaji Aliko Dangote, for the significant role of the Dangote Petroleum Refinery in Nigeria’s fuel supply chain and economic stability.
The monarch described the refinery as a critical national asset that has helped cushion the impact of global fuel price increases and supply disruptions on Nigerians.
In a statement issued on Thursday by his Chief Press Secretary, Alli Ibraheem, Oba Akanbi said the refinery has played a major role in shielding the country from the full effects of volatility in the international energy market.
According to the traditional ruler, Nigeria is fortunate to have a citizen who personally financed a refinery that is now exporting petroleum products to countries around the world.
“God loved us to have blessed us with a Nigerian, a black man, who personally financed a private refinery exporting fuel to advanced countries of the world,” he said.
The monarch noted that many influential Nigerians continue to appreciate and support Dangote for what he described as his contribution to preventing a deeper economic crisis.
He argued that without the Dangote Refinery, petrol prices in Nigeria could have risen to unprecedented levels amid global energy challenges.
“Without Dangote refinery, Nigerians would have bought a litre of petrol at N10,000,” Oluwo stated.
He added that the refinery has helped Nigerians enjoy some of the lowest fuel prices globally despite rising crude oil prices and international market pressures.
Oba Akanbi also referenced the geopolitical tensions involving the United States, Israel and Iran, noting that the conflict has increased pressure on global energy markets and economies worldwide.
He said the refinery’s operations have contributed to easing concerns over fuel scarcity and supply disruptions during a period of heightened uncertainty.
“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,” he said.
The monarch further commended the refinery’s reported increase in production capacity from 650,000 barrels per day to 700,000 barrels per day.
He also welcomed projections that the facility could expand production to 1.4 million barrels per day by 2028.
According to him, the achievement represents a major operational milestone for what he described as the world’s largest single-train petroleum refining facility.
Oba Akanbi said the expansion would strengthen Nigeria’s position as Africa’s leading economy and improve the country’s standing in the global energy market.
“The development will undoubtedly restore our glory as the giant of Africa and place our nation as the envy of many great nations,” he said.
In recognition of Dangote’s achievements and contributions to national development, the Oluwo conferred on him the honorary title of “Chief Atayero of Nigeria,” meaning “The Refiner of Nigeria.”
He said Dangote has received numerous international recognitions and deserves even greater appreciation within Nigeria.
The monarch also commended President Bola Ahmed Tinubu for supporting the refinery project and called for sustained collaboration among stakeholders to ensure the facility achieves its expansion targets.
He urged Nigerians to continue supporting and celebrating Dangote, describing him as a symbol of African entrepreneurship and economic excellence.
According to Oluwo, Dangote’s accomplishments have earned him admiration from people with deep knowledge of the global economy, many of whom continue to support him both publicly and privately.
The monarch concluded by expressing pride in the businessman, describing him as a trailblazer whose achievements have elevated Nigeria’s profile on the global stage.
