Dangote, Set 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, after signing the agreement for the establishment of the petrochemical project at Olokola, in Ondo state.

Source: channels


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