Dangote Says He Will Stop Fuel Importation In Nigeria

President of Dangote Group and Africa's richest man, Aliko Dangote, has said Nigeria's fuel importation saga would end by 2016 with the coming on stream of his Dangote Petrochemical project.

The Dangote Group has concluded plans to start building Africa’s largest refinery, petrochemicals and fertiliser manufacturing complex in Nigeria with a loan secured from the consortium of banks who are providing a $3.3 billion credit facility for the project.

This is as President Goodluck Jonathan has said his administration would not relent in the implementation of policies and measures that would help improve the operating environment for entrepreneurs and investors in the Nigerian economy.

“We are pleased that you are now investing in refining, petro-chemicals and fertiliser production. It is the downstream sector of oil and gas that can really create many jobs. Your interest and investment in that area will help in the area of jobs creation which we have been emphasising. You are also helping us to move away from being a mere producer of raw materials by adding value to our natural resources,” Jonathan said.

Alhaji Dangote, who led the team from his company, Manufacturers Association of Nigeria and leading banks, had earlier told Jonathan that they were at the Presidential Villa to thank him for his administration’s policies which had greatly encouraged further investments in Nigeria.