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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