Dangote and Honeywell UOP Partnership to Boost Nigeria's Economy

On April 20, 2023, Dangote Refinery announced a partnership with Honeywell UOP to utilize Oleflex technology, which will enable the production of an additional 750,000 metric tons of propylene annually. This initiative is anticipated to significantly enhance Nigeria's economy by reducing reliance on imported petrochemical inputs, which has been a major drain on foreign exchange reserves.

Segun Kuti Georg, Deputy National President of the National Association of Small Scale Industrialists, emphasized that this development is long overdue and will transform the refinery into a multi-product industrial hub. The partnership is expected to create significant backward integration opportunities, thereby reducing import dependency and creating jobs.

Dr. Muda Yusuf, Chief Executive Officer of the Centre for Promoting Private Enterprise, described the partnership as a game changer for Nigeria's economy, highlighting its potential to conserve foreign exchange and improve macroeconomic stability.