The International Monetary Fund (IMF), the global financial watchdog is projecting that Nigeria’s Dangote Refinery would provide an elixir for the country’s economy when it is completed and start production by 2022. In its latest report on Nigeria’s economy, the Fund raises the hope that the start of production from the refinery, solely owned by Africa’s richest man, Aliko Dangote could help Nigeria improve its Current Account balance. It said Dangote Refinery has “the potential to catalyse more domestic crude oil production and boost GDP growth.” “On the upside, the Dangote refinery, if commencing production in 2022 as planned, could meet the full demand for domestic consumption of refined petroleum products–which are almost all imported at present–thereby improving the CA balance. “With crude oil for local refining not subject to the OPEC quota, the refinery also has the potential to catalyse more domestic crude oil production and boost GDP […]