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Dagote promises that he would end importation of fuel in four years.

May 29, 2013


The president of Dangote Group,of companies Alhaji Aliko Dangote has promised to end the importation of fuel when his propose refinery comes into light.

Work is said to commence later in this year on the proposed 400,000 barrels per day refinery which is expected to cost $4.25 billion. The refinery will be sited in Ondo State. He disclosed this during an interview when the Annual General Meeting of Dangote Cement held in Abuja.

Dangote group would provide half of the fund while the rest would be sourced from two foreign banks and Nigerian banks. He is worth over $16 billion in net assets, according to Forbes Magazine, making him the richest on the continent at the moment.



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