The Central Bank of Nigeria (CBN) has given assurance to Dangote Group that it will support it access Foreign Exchange, Forex to build its proposed $14 billion refinery in the country.
Mr. Godwin Emefiele, the Governor of the CBN, said this during a tour of the refinery which is projected to refine 650,000 barrels of crude oil per day.

The tour of the facility held at its location within the Lekki Free Trade Zone in Lagos.
The CBN governor said that the support was to ease the importation of equipment needed to bring the Dangote refinery to reality.
“Your ongoing 14 billion dollar refinery investment will enjoy our support, no doubt. We are doing this to fast-track the importation of equipment you need for a speedy completion of that project and to encourage other Nigerians to follow your lead” Emefiele said.
According to him, the tour is necessary to lend our support to this laudable project that will transform Nigeria’s downstream oil sector.

“The Dangote Group approached us to indicate their interest to invest in refining crude, such that petrol-chemicals, fertiliser and fuel will be produced, about three years ago.
“Today, the three projects, which are valued at 14 billion dollars (N2.8 trillion), are on course and this is highly commendable, ‘’ he said.
Emefiele said the CBN would continue to support tremendous and impactful projects that would improve the socio-economic profile of the country through such investments.

He said the diversification of the Dangote Group was worthy of emulation by other industrialists.
“By the time this refinery is completed, it will not only service the needs of our domestic economy but shore up our international oil investments.
“Projects like this and our support will encourage more Nigerians to begin to think like the Dangote Group,” the CBN boss added.
Alhaji Aliko Dangote, Chairman, Dangote Group, said that the refinery would commence commercial operations at the early period of 2018.
“We are set to unveil the world’s largest refinery which will make Nigeria self-sufficient in petroleum products refining and also become a major exporter of oil.This project will mark a turning point in Nigeria’s search for local refining of crude oil.

“We will ensure the value chain in crude oil production is uplifted and other facilitators properly integrated into our scheme,” he said.
The chairman said that the fertilizer production aspect of the refinery would be completed by 2017.”

Source:https://www.vanguardngr.com/2016/01/cbn-assures-dangote-of-forex-to-finance-14bn-refinery/

This is how Obasanjo disadvantaged Ibeto Group but empowered Dangote.

whether you give him support or not he will still loose billions come 2019.
dangote is betting on the wrong team of 7.0 odds

Padi padi government...

Making the rich richer

Cheap cheap dollars

Ok

Mheen! This support is huge. Well it's needed as a lot of feats will be realized with that project which i foresee tremendously improving the economy of the country.

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While they suppress the investment of great Igbo men like Ibeto Group, Innoson Motors.Paddy paddy government.

As long as Dangote is investing in Nigeria, I don't give a fuuuuk how much the FG gives him. In fact, they should include all his projects in the next budget. The man has done more than OBJ, ATIKU and GEJ did combine.

OkaNaUbe:


This is how Obasanjo disadvantaged Ibeto Group but empowered Dangote.

Innoson is a dirty fraudster

Good incentive...... All for a better Nigeria.

Make I just kidnap this man

We we government.

OkaNaUbe:


This is how Obasanjo disadvantaged Ibeto Group but empowered Dangote.

And who told you dangote also is not indebated to banks, the only thing is that dongote is not trying to defraud the bank like the guy you mentioned.

And they can't empower young vibrant entrepreneurs like Gej did with Youwin...

Them go de support name that's already big and leaving the hustling entrepreneurs to wallow..


Anyways oga dangote enjoy; Life nor kuku fair b4.... Good initiative tho...

Chai! !!

That won't make dangote support the lifeless slumper.. From 2015 to 2018, his networth has reduced more than half.

What a shame!!! Buhari government is a disaster

Enemies dey fear......Once Dangote and other private investors start to refine petrol, no more importation.

Lazy PDP dey fear

Racoon:
While they suppress the investment of great Igbo men like Ibeto Group, Innoson Motors.Paddy paddy government.

Why did u people always bring tribalism into things, Innoson and Co also got forex support to the extent that erisco food was selling his own at black market.

I also saw something circulating around that Dangote got support while Innoson is almost going to jail to due to banks he his owning.
Dangote too is owning so many banks both in Nigeria and abroad but he is not trying to defraud those banks like Innoson did.
Tribalism does bring anything good.

Government of the North for the North and by the North

arsenal33:
Enemies dey fear......Once Dangote and other private investors start to refine petrol, no more importation.

Lazy PDP dey fear

Gullible Apc supporter has confirmed the relocation of the lifeless one to Daura!!!!

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Jesus!!!!
What about others?

God is our provider down the East, anybody that says our business will not thrive they and their families will never succeed. Iseeeee

This man want to spoil PDP business of fuel importation,

What now happens to other refineries like Warri refinery.
I wonder how much it would have cost to do the turn around maintainance on them.
Who benefiti if these refineries pack up totally oh I forgot we are paying subsidies to import fuel because the refineries have packed up already.

All these biafra people shouting as if the entire world is always against them. See them mentioning ibeto and innosson. Can you guys just shut the f*ck up and stop bringing tribal sentiments into every issue because I don't understand when GTB turn to federal government

You guys should get a hold of your lives and stop being pathetic and disgusting

The man knows how to get what he wants. Children of hate will say otherwise.