Billionaire businessman and philanthropist, Femi Otedola, has described the Dangote Refinery and Petrochemical Plant as the “eighth wonder of the modern era” following President Bola Ahmed Tinubu’s visit to the \$20 billion facility in Lagos.
Otedola made the remark in a post shared on X (formerly Twitter) on Friday, a day after President Tinubu toured the massive industrial complex located in the Lekki Free Trade Zone. He praised both the refinery and the leadership that made it possible, applauding Aliko Dangote and President Tinubu for what he called a transformative vision for Nigeria.
“Today, I witnessed history,” Otedola wrote. “President Bola Ahmed Tinubu, our visionary leader, visited the \$20 billion Dangote Refinery and Petrochemical Plant, the single largest single-train refinery in the world, an eighth wonder of the modern era, built by my dear friend and brother, Aliko Dangote.”
The Dangote Refinery, located on the coast of Lagos, is the world’s largest single-train refinery, with a capacity of 650,000 barrels per day. The refinery is expected to significantly reduce Nigeria’s dependence on imported fuel and save billions in foreign exchange once it begins full-scale operations.
President Tinubu, during his visit on Thursday, described the refinery as “a massive investment and a point of reference” not only for Nigeria but for Africa and the world at large. He commended Dangote for his entrepreneurial spirit and dedication to Nigeria’s economic development.
In his statement, Otedola also commended Tinubu for commissioning the Deep Sea Port Access Road, a key infrastructure project that connects the Dangote Fertiliser Plant to Eleko Junction in Lekki. The road is seen as a major milestone in unlocking the full economic potential of the Lekki corridor.
Otedola, a long-time supporter of Nigeria’s economic growth, used the opportunity to reflect on Tinubu’s foresight in developing the Lekki Free Trade Zone.
“Over two decades ago, as Governor of Lagos State, President Tinubu envisioned an economic powerhouse on the Atlantic coast, what we now know as the Lekki Free Trade Zone. Today, that vision stands tall in steel, concrete, and ambition,” Otedola said.
He continued, “A great leader takes people where they don’t necessarily want to go, but ought to be. That is the essence of President Tinubu.”
Otedola’s message struck a patriotic tone, calling on Nigerians to rally behind Tinubu’s economic reforms and support the ongoing transformation efforts across sectors. He expressed confidence in the country’s progress, noting that Nigeria has the potential to become one of the most remarkable transformation stories of the 21st century.
“Nigeria is rising, and those of us who believe in her will continue to support the bold reforms that will make her the greatest transformation story of the 21st century,” he concluded.
The Dangote Refinery is one of the most ambitious private-sector projects ever undertaken in Africa. Located in the heart of the Lekki Free Trade Zone, the refinery is part of a broader industrial ecosystem that includes a fertiliser plant, a deep-sea port, and other supporting infrastructure. Together, these projects are expected to create thousands of jobs, stimulate the economy, and position Nigeria as a key player in global energy and petrochemicals.
President Tinubu, who served as Governor of Lagos State from 1999 to 2007, is credited with laying the groundwork for the Lekki corridor’s transformation. His administration initiated major infrastructural policies that attracted investment and set the stage for the kind of mega-projects now taking shape in the zone.
Since assuming office in 2023, Tinubu has rolled out a number of reforms aimed at stabilising the economy, attracting foreign investment, and promoting private sector-led growth. These include the removal of fuel subsidies, unification of exchange rates, and efforts to ease the business environment.
Otedola’s endorsement of both the refinery and Tinubu’s leadership comes at a time when Nigeria is undergoing major economic adjustments. While the reforms have sparked debate and some public concern over rising costs, supporters argue that they are necessary to build a stronger and more sustainable economy.
For many observers, Otedola’s remarks reflect growing optimism among some members of the business community who see long-term potential in Nigeria’s evolving economic direction.
