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12 local and international banks have loaned Africa's richest man and foremost industrialist Aliko Dangote $3.3 billion to build Nigeria’s biggest petroleum refinery and petrochemical/fertilizer plants.

The banks are: Standard Chartered Nigeria, Guaranty Trust Bank, Fidelity Bank, Ecobank Nigeria, United Bank for Africa, Access Bank, Zenith Bank, Standard Bank of South Africa, Diamond Bank, First Bank Nigeria, First City Monument Bank, and FirstRand Bank.

Standard Chartered is the global co-ordinator, while Guaranty Trust Bank is the local co-ordinator.

According to a statement released by Dangote Group a few days ago, the factories they plan to build will create about 9500 direct and 25 000 indirect posts. These plants will cut the existing volumes of refined fuel that are imported by almost half which will end the importation of fertilizer in Nigeria.

The company further stated that the 2.8 million tonnes of urea that will be made at these factories will be directed into developing the Nigerian agriculture sector. Aliko Dangote said these factories would showcase Africa as maker of refined oil products and fertiliser.



http://bishopjoe..com/2013/09/aliko-dangote-gets-33billion-loan-from.html

Too much money!!

Why TђƸ̵ loan of $3.3b,as @ 2011 Forbe rated him τ̲̅ȍ worth $8.2b.

jackson44: Why TђƸ̵ loan of $3.3b,as @ 2011 Forbe rated him τ̲̅ȍ worth $8.2b.

the rating is base on his fixed and liquid assess, d cash at hand is not up to dat 3.3billion, to invest in oda ventures, he nid more funds

Besides that,if u got$ 10,wud u risk 3.3 just like that?,its far better to pool the risks among different banks so that in the event of occurrence of any mishap,it will nt affect him and banks adversely

Maximus17: Besides that,if u got$ 10,wud u risk 3.3 just like that?,its far better to pool the risks among different banks so that in the event of occurrence of any mishap,it will nt affect him and banks adversely

its a loan, nt a partnership, incase there is any losses, he wil definitely be d one to pay in the long run or his collaterals wil b constificated

this briliant bastard... He is aiming at owning nigeria... Damn! You good... You are posing like you aint interested in politiks... I can see you eyeballing the presidency seat.... Good one bro...

afortress: this briliant bastard... He is aiming at owning nigeria... Damn! You good... You are posing like you aint interested in politiks... I can see you eyeballing the presidency seat.... Good one bro...

he is nt educated, he cant rule.

bishopjoe02:
he is nt educated, he cant rule.

bishop... I will urge you to keep wishing... He is not educated he runs the stock market, he is not educated he is the richest black man in the universe.... he is not educated he runs half the business in nigeria how else do you want him educated... Bro.... Trust me this guy has a motive... This is more than business... The reason for my say is... Oil is where our power lies the reason for the politiks... If he is in control of that, he is equally the president... I admire his efforts though...

afortress: bishop... I will urge you to keep wishing... He is not educated he runs the stock market, he is not educated he is the richest black man in the universe.... he is not educated he runs half the business in nigeria how else do you want him educated... Bro.... Trust me this guy has a motive... This is more than business... The reason for my say is... Oil is where our power lies the reason for the politiks... If he is in control of that, he is equally the president... I admire his efforts though...

now i understand ur point, i think he have enough möney to do such tin.