Dangote To End Fuel Importation By 2016

Africa's richest man and president of the Dangote Group, Aliko Dangote has said Nigeria’s current fuel importation will end by 2016 with the coming on stream of the proposed Dangote petrochemical project. Dangote group is billed to build Africa’s largest refinery, petro-chemicals and fertilizer manufacturing complex in Nigeria with a loan secured from the consortium of banks that are providing a $3.3 billion credit facility for the project.
The $9billion project represent 20 per cent of the nation's reserve and a huge project meant to market the country as self-reliant in both petrochemical and petroleum products. The business mogul stated this after a meeting with President Goodluck Jonathan, today after the signing of agreement for the establishment of the petrochemical project at Olokola, in Ondo state. Briefing state house correspondents after a closed door meeting with the president after the signing ceremony, Dangote thanked the government for providing the enabling environment for the private sector to thrive.

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Comments

  1. akinbo ayoola5 September 2013 at 12:28

    Dangote is at it again. Monopoly. Watch how he would rise on forbes list in the next 3 years through this. Much love and respect Dangote ( thinking mind).

    ReplyDelete
    Replies
    1. Mr. Victor6 September 2013 at 18:54

      True but it will kick-start another cycle of uneven wealth distribution

      Delete

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