Africa’s richest man and President of
Dangote Group Alhaji Aliko Dangote yesterday promised to end fuel
importation in Nigeria in four years when his proposed refinery comes on
stream.
Work would commence later in the year on the proposed 400,000 barrels per day refinery which is expected to cost $4.25 billion, to be located in Ondo State, Dangote said in an interview after the Annual General Meeting of Dangote Cement in Abuja. Dangote group would provide half of the money while the rest would be sourced from two foreign banks and Nigerian banks.
“We hope to start something by end of the year. We have put down 50 percent of the money. We have secured $4.25 billion from two foreign banks and the rest from local banks,” Dangote said.
Dangote is worth over $16 billion in net assets, according to Forbes Magazine, making him the richest on the continent.
He said while his investing in Nigeria is an ongoing business, he hopes to top it to over $20 billion in the next three years. His investment outside Nigeria is in excess of $5 billion.
Speaking on security threat to businesses, Dangote said his business was not significantly affected. He said while the government is doing a lot in terms of tackling the security situation, people should support the government to make sure “they do what is right instead of confusing them and making noise all over the place.”
“In the north east and also parts of north west, we would be creating about 120,000 jobs, which has never happened in the history of Nigeria.
This is what we intend to do in sugar alone. We thank government for bringing up this new sugar policy,” he said.
Click to signup for FREE news updates, latest information and hottest gists everydayWork would commence later in the year on the proposed 400,000 barrels per day refinery which is expected to cost $4.25 billion, to be located in Ondo State, Dangote said in an interview after the Annual General Meeting of Dangote Cement in Abuja. Dangote group would provide half of the money while the rest would be sourced from two foreign banks and Nigerian banks.
“We hope to start something by end of the year. We have put down 50 percent of the money. We have secured $4.25 billion from two foreign banks and the rest from local banks,” Dangote said.
Dangote is worth over $16 billion in net assets, according to Forbes Magazine, making him the richest on the continent.
He said while his investing in Nigeria is an ongoing business, he hopes to top it to over $20 billion in the next three years. His investment outside Nigeria is in excess of $5 billion.
Speaking on security threat to businesses, Dangote said his business was not significantly affected. He said while the government is doing a lot in terms of tackling the security situation, people should support the government to make sure “they do what is right instead of confusing them and making noise all over the place.”
“In the north east and also parts of north west, we would be creating about 120,000 jobs, which has never happened in the history of Nigeria.
This is what we intend to do in sugar alone. We thank government for bringing up this new sugar policy,” he said.
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Mr. Dangote do more and talk less. before your acquisition of the cement factories in Nigeria you did promised to sell cement for less than a thousand naira. till date, cement is still far from selling for a thousand naira .
ReplyDeletewho is fooling who? How much is a bag of cement now and we are saying housing for all.
ReplyDeleteRich individuals should in invest in nigeria
ReplyDeleteThis one still dey try now what of people like BUHARI who dont have anytin to offer to nigerians except to kill them finish and the other useless peole who call themself nothern leaders
ReplyDeleteIf there land good why cant he sited all this company in the north all in south and west all this people never still get sense that are useless in nigeria
ReplyDeletewe fervently pray that your refinary shouldnt come up because we will buy fuel 100 times the price we are buying now. Is imported cement not cheaper than Dangote cement?
ReplyDeletesimply because he is a northerner? how many jobs are created by any southerner counterparts. be patrotic and remove ethno-religious bigotry from issues. war and hunger are non respecta of tribe/religion.
ReplyDeleteIf the thieves(those stealing our commonwealth) in Nigeria could do same...Nigerian will be better of...
ReplyDelete