Dangote’s $9bn refinery to create 85,000 jobs and end fuel importation by 2016

Posted on September 6, 2013 Updated on September 6, 2013

The Dangote Group, chaired by popular and richest
man in Africa, Aliko Dangote, has affirmed that the
group’s $9 billion investmentinto establishment of
refinery/petrochemical/fertilizer plant in Ondo State
will create 85,000 jobs which will consequently ensure that importation of petroleum products ceases by the end of 2016.
Dangote noted after the project was being launched
recently that the $9 billion project, which represents
20 per cent of Nigeria’s foreign reserves, and the
highest single investment in Africa will make
Nigeria self-reliant in supply of both petrochemical
and petroleum products.
He also revealed that the signing of the agreements
will create jobs for about 85,000 Nigerians, including
8,000 engineers at the initial stage.
Hence, the presidency affirmed that the Dangote
Group’s massive investment in refining,
petrochemicals and fertilizer production would
contribute significantly to the attainment of
government’s priority objective of job creation.
Dangote said the signing of the financial support
agreement with major banks is a milestone in the
industrialization of Nigeria.
“Now, Nigeria is going to be taken out of the list of
countries that import petroleum products. We will
produce 20 million metric tonnes which is
equivalent to what Nigeria consumes currently” he
said adding that currently spends about $30 billion
annually importing petroleum products.
Dangote, however, pointed out that there is noway
the private sector can invest in Nigeria without good
government policies.
“We are not Father Christmas at all. The polices have to be right’, he said.
But president Goodluck Jonathan assured Dangote
that his administration would keep on implementing
policies and measures to improve the operating
environment for entrepreneurs and investors in the
Nigerian economy.
The President also expressed the Federal
Government’s appreciation of the support being
given by Nigeria’s private sector to the
implementation of his administration’s agendafor
national transformation.
“We are pleased that you are now investing in
refining, petro-chemicals and fertilizer production. It
is the downstream sector of oil and gas that can
really create many jobs.
Its about frigging time, cos with Nigeria being one of the giant crude oil exporting countries, buying refined petroleum and petrochemical products was becoming embarassing….ijs.