It noted that with the refinery in operation, GDP growth was projected to rise to 4.15 per cent in 2024 and reach 6.21 per cent by 2030.
The report also stated that Nigeria’s GDP at current market prices would increase from N234.43tn in 2023 to N304.8tn in 2024, with further growth to N364.94tn in 2025.
It added that by 2026, GDP was projected to hit N432.24tn, climbing to N806.91tn by 2030.
The Managing Director at Data Services & Resources Ltd, Afolabi Olowookere, stated that the refinery’s impact was expected to boost GDP to $370.49bn in 2026, $374.69bn in 2027, and continue rising to $412.91bn in 2028 and $446.98bn in 2029.
The report added that the Dangote Refinery, which began initial production in January 2024, was expected to positively and hugely impact the economy.
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