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.
Source: Daily Trust
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