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Business & Finance

I’ll Help Turnaround Nigeria’s Economy – Dangote

Aliko Dangote
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Africa’s richest man, Alhaji Aliko Dangote, has restated his commitment to assist the Federal Government in turning around the country’s economy.

He spoke Lagos on Friday where he was honoured as “Man of the Year 2015’’ by The Guardian Newspapers Limited.

Dangote said he was working hard with his company to take Nigeria to the next level and that within the next two and half years, Nigeria was going to excel in some critical areas.

“We want to do that by looking at critical areas where Nigeria is not doing well in terms of local production and tackle the problem areas.

“Number one is refinery, Dangote Group is building a refinery which will produce 650,000 barrels of petrol per day, the current capacity that we have as a country now, both the ones that are working and the ones not working, is just 450,000 barrels per day.

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“Our petrochemical is 10 times that of Eleme, we are at 1.3 million, Eleme is 120,000, so it will be the largest petrochemical industry in Africa.

“In fertilizer production, we are not only trying to satisfy the market, but our size is three million tonnes which is 10 times more than what is available in Nigeria today.

“We are trying to make sure we satisfy the local needs and also export and we thought about how to address our power issues, the only way we can address power issues is to have enough gas and sort out distribution.

“Distribution is important because unless you collect money from the consumers, you cannot grow,” the News Agency of Nigeria quoted Dangote as saying at the forum.


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