According to Punch News, Aliko Dangote, the head of the Dangote Group and founder of the Dangote Petroleum Refinery, announced a significant transformation in the country’s downstream sector. He stated that he told President Tinubu that he had not seen anything yet, claiming that the refinery is on a massive trajectory and that in the next five years, the refinery will improve extraordinarily.
He said, “I told the President that he had not seen anything yet; we are going on a massive trajectory, much more than what you have seen here. If you come back in the next five years, the refinery will be on the back burner.”
He added that this change will not focus on lowering prices but rather on a complete overhaul. After President Bola Tinubu’s recent visit to the $20 billion refinery in Lekki, Dangote stressed that this initiative will bring considerable advancements beyond current expectations.
Dangote intends to list the refinery on the stock exchange, beginning with the fertilizer company this year. He commended President Tinubu’s economic reforms for fostering a supportive environment for industrial growth and local production. The “Nigeria First Policy” aligns with Dangote’s goal of enhancing self-sufficiency.
He pointed out the government’s infrastructure initiatives, noting that funding has been allocated for eight major roads, including the Lekki-Epe corridor. The refinery is part of Dangote’s efforts to support Nigeria’s Renewed Hope Agenda, which aims to reduce imports and boost local manufacturing.
Dangote expressed optimism that the refinery will help eliminate fuel shortages and contribute significantly to Nigeria’s economic development. He reaffirmed the group’s dedication to infrastructure investment, planning to allocate N900 billion for road projects nationwide.
President Tinubu praised Dangote’s investments as crucial to Nigeria’s economic advancement, describing the refinery as an impressive accomplishment. He recognized Dangote as a key player in Nigeria’s economic landscape, alongside other notable business figures.
Find Verified News At Your fingertips Click The Button Below
