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Dangote Promises To End Fuel Import In 4 Years - Politics - Nairaland

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Dangote Promises To End Fuel Import In 4 Years by Nobody: 7:24am On May 24, 2013


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.

http://dailytrust.com.ng/index.php/top-stories/55321-dangote-promises-to-end-fuel-import-in-4-years

4 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by MadCow1: 9:02am On May 24, 2013
Why would he build the refinery in Ondo State?! Does Ondo State have oil wells or does he intend to run pipes from Ondo to the South-South?!

1 Like

Re: Dangote Promises To End Fuel Import In 4 Years by dulphines: 9:04am On May 24, 2013
You again? No finish the money wey i borrow you o!

2 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by strangest(m): 9:05am On May 24, 2013
Locating the refinery in Ondo is okay... But how about the cost of transpoorting the crude to that part? Or afterall the consumer will pay
Re: Dangote Promises To End Fuel Import In 4 Years by Samuel200: 9:07am On May 24, 2013
welcome development
Re: Dangote Promises To End Fuel Import In 4 Years by ichommy(m): 9:07am On May 24, 2013
Okay, Baba Olowo
Re: Dangote Promises To End Fuel Import In 4 Years by Exponental(m): 9:08am On May 24, 2013
If he can achieve this, I will join his campaign for presidency if he has interest.

2 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by Francuiz: 9:08am On May 24, 2013
Ok. Nice one
Re: Dangote Promises To End Fuel Import In 4 Years by ichommy(m): 9:08am On May 24, 2013
dulphines: You again? No finish the money wey i borrow you o!

God will forgive you
Re: Dangote Promises To End Fuel Import In 4 Years by Mavor: 9:10am On May 24, 2013
Mad Cow: Why would he build the refinery in Ondo State?! Does Ondo State have oil wells or does he intend to run pipes from Ondo to the South-South?!
Am wondering the same thing myself. The closer the refinery is to Nigeria's main oil fields, the better the refinery's daily operation and its daily output will be. Anyway God bless him. His heart and mind are in the right place.

1 Like

Re: Dangote Promises To End Fuel Import In 4 Years by 360command: 9:12am On May 24, 2013
It does not matter where the refinery is located in a way, after all, we carry our oil to be refined abroad and its been sent back to Nigeria.

26 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by born2fuckpussy: 9:12am On May 24, 2013
Exponental: If he can achieve this, I will join his campaign for presidency if he has interest.
I don't think he has embezzlement interest

6 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by Cheerup4dan: 9:12am On May 24, 2013
v good
Re: Dangote Promises To End Fuel Import In 4 Years by Reference(m): 9:13am On May 24, 2013
Mad Cow: Why would he build the refinery in Ondo State?! Does Ondo State have oil wells or does he intend to run pipes from Ondo to the South-South?!

Yes, Ondo state has oil wells but 400,000 barrels per day, no. Anyway it is a private concern and can be located anywhere that fits their strategy. Are we not sending our crude all the way to Texas.

5 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by Fishout(m): 9:13am On May 24, 2013
Welcome development for people in south west nd in Nigeria as a whole. May God be with u so that ur vision will come true in time.
Re: Dangote Promises To End Fuel Import In 4 Years by Exponental(m): 9:13am On May 24, 2013
strangest: Locating the refinery in Ondo is okay... But how about the cost of transpoorting the crude to that part? Or afterall the consumer will pay
land wise, ondo is d best location I can think of. Cost of transportation of crude is definitely included in d cost of production....d piping works and others. More job opportunities will flow. Many bi-product would be extracted n many company will spring up.

2 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by Reference(m): 9:15am On May 24, 2013
Fishout: Welcome development for people in south west nd in Nigeria as a whole. May God be with u so that ur vision will come true in time.

Right. Everything must have an ethnic coloration. Good thing the man doesn't think that way.

4 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by Nobody: 9:17am On May 24, 2013
Mad Cow: Why would he build the refinery in Ondo State?! Does Ondo State have oil wells or does he intend to run pipes from Ondo to the South-South?!
Why are u bringing this nw,Is ondo State nt in Nigeria?stop all this ur state here state there.Am from Delta State i should tell him to put it in my backyard or what? Aliko u too muc h God bless u. Let others be carrying Guns.

2 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by rozayx5(m): 9:17am On May 24, 2013
ondo is close to Lagos, Dangote is a smart guy cool
Re: Dangote Promises To End Fuel Import In 4 Years by jadakiss213(m): 9:17am On May 24, 2013
strangest: Locating the refinery in Ondo is okay... But how about the cost of transpoorting the crude to that part? Or afterall the consumer will pay
FYI,Ondo state has oil..Its an Oil Producing state..
Re: Dangote Promises To End Fuel Import In 4 Years by Iaz93: 9:18am On May 24, 2013
Ok na. Dangote Oil. This guy wants to be like Carlos Slim.
Re: Dangote Promises To End Fuel Import In 4 Years by Nairaplus(m): 9:19am On May 24, 2013
But, why Ondo? Maybe he's afraid of militancy in the Niger Delta!
Militants fit migrate o! Or even self, dem fit evolve! Make una help me tell am.

1 Like

Re: Dangote Promises To End Fuel Import In 4 Years by mitey(m): 9:19am On May 24, 2013
I admire this man. So many people who manage to make enough to purchase a one-way ticket can hardly wait to go and naturalize somewhere else.

This billionaire saw a problem with the Nigerian system and is moving to stop it. And some i.diots will come here to complain about the rich getting richer. This is one rich dude that deserves all he has. I hope he becomes among the world's richest ten one day and make us all proud.

Carry on Alhaji.

#TeamDangote

7 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by Brunel(m): 9:21am On May 24, 2013
As i read the title of this thread, the first thing that comes to my mind is 'this man is doing alone what government failed to do in almost 30 years'. providing jobs and opportunities and increasing standard of living, one day we all will wake up and realise dat Alhaji Dangote is ACTUALLY our government. smiley

17 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by Nobody: 9:22am On May 24, 2013
How does he intend to make a profit from his refineries?
Re: Dangote Promises To End Fuel Import In 4 Years by mitey(m): 9:22am On May 24, 2013
born2fuckpussy:
Exponental:
If he can achieve this, I will join his campaign for presidency if he has interest.
I don't think he has embezzlement interest

+100

1 Like

Re: Dangote Promises To End Fuel Import In 4 Years by Lilimax(f): 9:23am On May 24, 2013
This man is always putting on his thinking cap on how to industralize our nation
while most of his contemporaries are busy strategizing on how to rule Nigeria by force tongue.
My prayer sir is that your vision for Nigeria will come to fruiton. smiley

3 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by Boyoorisha: 9:23am On May 24, 2013
strangest: Locating the refinery in Ondo is okay... But how about the cost of transpoorting the crude to that part? Or afterall the consumer will pay
he knows better than you do

1 Like

Re: Dangote Promises To End Fuel Import In 4 Years by Nobody: 9:23am On May 24, 2013
Mad Cow: Why would he build the refinery in Ondo State?! Does Ondo State have oil wells or does he intend to run pipes from Ondo to the South-South?!

silly u. I dont know you are this daft. so ondo is not part of nddc and you thought is only south-south that has oil in Nigeria ? even some south east including a town in kwara are also in the queue of exploring their oil discoveries. please be current and stop displaying your madness publicly .
besides , he is a successful business man and he knows the reason for. choosing that .

3 Likes

Re: Dangote Promises To End Fuel Import In 4 Years by MadCow1: 9:25am On May 24, 2013
4bobo:
silly u.

I'm a Mad Cow.. So silly you for picking issues with a Mad cow.
Re: Dangote Promises To End Fuel Import In 4 Years by enesy4u(m): 9:25am On May 24, 2013
Mad Cow: Why would he build the refinery in Ondo State?! Does Ondo State have oil wells or does he intend to run pipes from Ondo to the South-South?!

Se NA only south south oil well dey 4 naija. Ondo state have producing crude oil since 1999 and for the records its d most peaceful oil producing state in Nigeria. So please stop hating on my DEAR STATE
Re: Dangote Promises To End Fuel Import In 4 Years by muyik78(m): 9:26am On May 24, 2013
strangest: Locating the refinery in Ondo is okay... But how about the cost of transpoorting the crude to that part? Or afterall the consumer will pay
In you mind u think only southeast has oil field, learn to criticise positively before tying on thing from ur fingers without putting ur mind to it.
For u information Ondo state has oil, if not for bad politics of this nation,Ondo has the best coast line, no sea port,Largest Bitumen deposit no rifinery!
Glimpse of hope coming some pple southing foul
Bros think twice b4 jumping to conclusion

5 Likes

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