Aliko Dangote, the President of Dangote Industries, revealed this on Wednesday, June 12, 2024, at the Afreximbankâs Trade and Investment Forum in the Bahamas.
Dangote said the company can supply petroleum products to the region within 18 to 20 days.
He said the firm would sign an agreement with the region to construct a terminal for exporting petroleum products.
Dangote said:
Africaâs richest man also said his conglomerate is seeking to invest in cement export to the region.
He stated that the companyâs cement production capacity is about 52 million metric tons and will increase by 10 million by the end of 2025. Â
Reports say that Africaâs richest industrialist revealed that the conglomerate can meet the needs of the Caribbean market and create a win-win situation for all the parties.
Dangote, who recently announced the postponement of petrol production from the refinery, disclosed that his company seeks to replicate its feat in Africa in the Carribean region.
He set a 28-month timeline for establishing the terminal, stating that if the correct materials are in place, the plan can be achieved.
He said:
The development comes as marketers are said to have begun registering with the Dangote refinery to lift petrol from the facility.
The marketers said they are in talks with Dangote about reducing the petrol price when it becomes available.
TimesNow.com.ng previously reported that petrol prices should crash to about N300 per litre when mass production by the Dangote Petroleum Refinery and other refineries begins production.
Refinery owners, under the aegis of the Crude Oil Refinery Owners Association of Nigeria (CORAN), explained that providing enough crude oil to local refiners would crash the price of petrol, stating that foreign refineries were cheating Nigeria.
CORAN stated that, like diesel prices, which sold for N1,700 before Dangote began production but later crashed to N1,200, the cost of petrol will crash when mass production begins.
Source: TimesNow.com.ng
