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No More Importation Of Petrol Once My Refinery Is Ready- Dangote - Business - Nairaland

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No More Importation Of Petrol Once My Refinery Is Ready- Dangote by makzeze: 10:32am On Jan 12, 2016
Aliko Dangote, president of Dangote Group, has assured Nigerians that when his refinery is ready, the country would no longer need to import petroleum products.

Speaking at the site of his refinery in Lekki, Dangote said his refinery would put an end to fertiliser importation in Nigeria, transforming the country into a net exporter of refined crude and fertilizer. “Today, Nigeria imports 100 percent of its fertilizer, but when we finish, Nigeria will be the largest exporter of Urea and Ammonia in Africa,” Dangote said.

“The refinery is the largest single line in Africa and it will meet our total domestic requirement and save foreign exchange. “Thirty-eight per cent of CBN’s foreign exchange is spent on importation of petroleum products. But we can serve the whole West African market.” Dangote said he had been working with the government and the central bank of Nigeria (CBN) in diversifying the economy. “We are going to serve the whole domestic market in the next 10 years and also export. We have actually been doing this for a very long time to diversify the economy.

“The government will lay down the policies. The CBN will assist in terms of long-term funding through the banks and even directly now because they have actually helped us quite a lot. That is what we are now trying to do.” Godwin Emefiele, the CBN governor, who visited the Dangote free trade zone, said the CBN would provide the needed foreign exchange for the refinery, adding that the refinery, upon completion, would generate $6 billion dollars in foreign exchange for Nigeria.

“Imagine what would happen to the savings in foreign exchange by the time the fertilizer plant is completed in 2017 and by the time the refinery and petrochemical plant is completed during the early part of 2018. “We expect that by the time these projects are completed, they will not only meet the needs of our domestic requirements – by the time they are completed, he (Dangote) will be exporting these products to the point where he will be selling foreign exchange to Nigerians and CBN to the tune of almost $6 billion yearly.

“That is the kind of project we think we should support and we think that we need to encourage more Nigerians to begin to think like Aliko Dangote.” The Organisation of Petroleum Exporting Countries (OPEC), in its world oil outlook for 2015 said Dangote is responsible for nearly 50 percent of refinery projects in Africa for the next five years. The refinery is expected to cost about N2.8 trillion and refine about 650,000 barrels of crude oil per day.

https://www.thecable.ng/dangote-no-more-importation-of-petrol-once-my-refinery-is-ready

48 Likes 6 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by bluaero(m): 10:36am On Jan 12, 2016
Now we're talking!

41 Likes 1 Share

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Mishydoo(m): 10:38am On Jan 12, 2016
One man I respect in this country...

Oh My Goist...Hall dez LIKES for me...awwwn kiss

Hope I make money too this year,not just Likes undecided

155 Likes 3 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by carinmom(f): 10:43am On Jan 12, 2016
This is really patriotic. Other business moguls in Naija should try to emulate what Dangote is doing.

57 Likes 2 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Feranchek(m): 10:48am On Jan 12, 2016
I'm yet to find that non-cleric Nigerian, that gives free of charge

Dangote is planning to control Fuel price same way he controls cement price and makes distributors earn only N20 per bag of his cement sold.

God save us..

7 Likes

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Ayt27(m): 11:02am On Jan 12, 2016
Good

This guy go reach $50bn last last

50 Likes 3 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by AngryNigerian(m): 11:08am On Jan 12, 2016
You see why it is said that the only reason why we cant make it is the limitations/wedges we create 4 ourselves! This is one man that thinks out of the box! This is how wealthy people think: rich men wnt think like this!!!


Carry on DAD!

44 Likes 2 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Demmocrats(m): 11:10am On Jan 12, 2016
cheesy cheesy

1 Like 1 Share

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Idiataqueen(f): 11:21am On Jan 12, 2016
Thank God

4 Likes 1 Share

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by jstbeinhonest(m): 11:25am On Jan 12, 2016
Feranchek:
I'm yet to find that non-cleric Nigerian, that gives free of charge. BTW, last I checked, his refinery isn't being built in Nigeria. So at the end of the day, na still importation we go dey do


Where is it built?....Read, una no go read.

121 Likes 6 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by antispexish(m): 11:27am On Jan 12, 2016
Feranchek:
I'm yet to find that non-cleric Nigerian, that gives free of charge. BTW, last I checked, his refinery isn't being built in Nigeria. So at the end of the day, na still importation we go dey do
Lekki, SW nigeria.

55 Likes 3 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Kyase(m): 11:30am On Jan 12, 2016
jstbeinhonest:



Where is it built?....Read, una no go read.
na iPod guy na, dem no dey read.

75 Likes 3 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by princemillla(m): 11:36am On Jan 12, 2016
jstbeinhonest:



Where is it built?....Read, una no go read.
grin
cheesy

You will never know how sad these guys get wenever they read positive development. Perhaps he is yet to return to normalcy since last election

76 Likes 4 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by PentiumPro(f): 11:36am On Jan 12, 2016
Dividend that only a peaceful and capital friendly region can enjoy, not a region that threatens to secede every time or one the one using religion to create chaos.

65 Likes 3 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Nobody: 11:38am On Jan 12, 2016
[size=22pt]AYAF HEARD YOU[/size]grin















grin
Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by NobleAngell(f): 11:40am On Jan 12, 2016
Oya naw. Carry on. At least that will increase employment opportunities for youths.

6 Likes

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Smartsyn(m): 12:05pm On Jan 12, 2016
This will make him enter top 10 in Forbes list

6 Likes

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by knostbrown01(m): 12:12pm On Jan 12, 2016
monopoly of trade.... make dis man no turns us 2slave at d end

13 Likes

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by kropelgrada(m): 12:41pm On Jan 12, 2016
After all said and done,a private owned refinery is a nice way to go for the FG. But I still have my reservations due to the fact that being a private business, the refinery will be looking to make profit,so where does that leave the masses. We will still buy fuel at high rate. And Dangote we all know being a capitalist that he is will not bring the price down,instead he'll be looking to monopolize the oil sector like he did to the cement sector,then we'll practically start feeding out of his hands.And who's that dude talking about him being on the Top 10 in Forbes list,he's going to be number 1 in the world in the next 10 years or so!

48 Likes 4 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by islandmoon: 12:49pm On Jan 12, 2016
then do it

1 Like

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by obailala(m): 12:52pm On Jan 12, 2016
May God make this project to come to pass. This will transform Nigeria's economy in ways we can never imagine. To some of those opposed to this project for whatever silly or diabolic reason, God pass una!

11 Likes

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Super1Star: 12:55pm On Jan 12, 2016
SW is the highest producer of Cement in Africa, courtesy of Lafarge and Dangote.

It is bound to be the highest producer of fertiliser and petroleum products in the next 1 year, courtesy of our investment friendly climate.

It has the gateway of West Africa to Internet access to the world courtesy of our indigenous Glo and Main One companies.

Our car assembling plants are being resuscitated on a daily basis.

The region is the financial capital of West Africa and most likely Africa.

The entertainment capital of Africa.

The media capital of West Africa.

Who God has blessed, no man can curse. They can only be bitter. They know themselves.

131 Likes 10 Shares

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Nobody: 1:01pm On Jan 12, 2016
Amazing write-up grin

Click like if you think another CBN governor would provide the needed forex for Dangote to complete both plants

4 Likes

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Wordsmith01: 1:08pm On Jan 12, 2016
I dearly hope competent Nigerians would be employed rather than 'importing' expatriates .

2 Likes

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Herald47: 2:11pm On Jan 12, 2016
That's good,as we all can see nobody is initiating any policy that will crumble his refinery,now that ifeanyi uba is making moves to build his own refinery and jim ovia building his petrochemical plant in akwa ibom and shell building their massive gas plant in imo state,and anambra state government making move to build a large gas plant and new refinery,we don't want him to tell his brother(buhari)to initiate any policy that will crumble these ones i mentioned earlier,we all know the inconveniences they are creating for ibeto cement because they are afraid of competition.

17 Likes

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Herald47: 2:18pm On Jan 12, 2016
PentiumPro:
Dividend that only a peaceful and capital friendly region can enjoy, not a region that threatens to secede every time or one the one using religion to create chaos.
your AWOLOWO was the first initiator of secession plan in nigeria,he even piled up arms and ammunitions in his ikenne residence,when he was being tried you all cried foul and tagged the fg your enemy.now GERARA HERE

18 Likes

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by tuoyoojo(m): 2:24pm On Jan 12, 2016
ok

if all those people stacking our stolen common wealth abroad would come home and invest into the country,Nigeria would have being like Dubai

after all has being said and done....i hope those vandals would not sabotage this place

because corrupt people usually benefit from what ever is not working in nigeria

3 Likes

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by PentiumPro(f): 2:26pm On Jan 12, 2016
Herald47:
y[s]our AWOLOWO was the first initiator of secession plan in nigeria,he even piled up arms and ammunitions in his ikenne residence,when he was being tried you all cried foul and tagged the fg your enemy.now GERARA HERE[/s]

That is the nonsense story your forefather sold to you.
Ipob thug

65 Likes 1 Share

Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Ijaya123: 2:32pm On Jan 12, 2016
Some will still wail over this good news.
Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by Slikbae: 2:32pm On Jan 12, 2016
hope!!!
Re: No More Importation Of Petrol Once My Refinery Is Ready- Dangote by jojomario(m): 2:52pm On Jan 12, 2016
Good move.

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