Aliko Dangote, the richest man in Africa and chairman of the 650, 000 bpd Dangote Refinery at Lekki, Lagos state, said no refining facility has been established in Africa in the past 35 years because the continent’s vast fuel imports have benefited many.
In an excerpt from an interview with CNN, Dangote said that even though he had built a $19 billion refinery, he would have reconsidered if he had known in advance how difficult it would be to construct a plant of that size on the continent.
He argued that foreign aid and investments would not build Africa, explaining that Africans would have to develop the continent on their own.
ThisDay reported that Dangote explained that he had to dredge a lot of sand, over 65 million tonnes, before work could start on the project.
The billionaire businessman noted that he and his team carried out the Engineering, Procurement and Construction (EPC) contractors for the project on their own because of the initial difficulties encountered.
He emphasized that a lot of individuals, including those who he claimed discouraged him, did not think the idea would succeed.
He said,
Dangote clarified that although he had received advice not to take on the enormous undertaking, he believed the advice was merely intended to demoralize him.
He said,
He added that the business will continue to search for upstream prospects, such as those in petrochemicals.
He added that he was proud of himself for having completed the building of the Dangote refinery and described the 3 million-ton fertiliser plant that was located close to the refinery.
TimesNow.com.ng reported that a Chinese cargo ship, laden with a consignment of Akwa Ibom refinery project, has berthed in Calabar port in Cross River state.
The development is a significant milestone in the construction of a state-of-the-art refinery in Akwa Ibom state.
BusinessDay reports that two refinery projects are expected to be located in the state’s Eket and Onna local government areas.
One of the refineries is being promoted by the BUA Group of companies.
Source: TimesNow.com.ng
