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Wednesday, September 4, 2013

''Nigeria Will Stop Fuel Importation By 2016'' – Aliko Dangote

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

Dangote Group has concluded plans to start building Africa’s largest refinery, petro-chemicals 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.

The project which is expected to cost 9 billion United States Dollars is said to be the biggest single investment in Africa, and is expected to make Nigeria self sufficient in fuel importation.
Nigeria currently spends about $30 billion dollars annually importing petroleum products.
God bless this man!

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