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Aliko Dangote, president of Dangote Group, has guaranteed Nigerians that when his refinery is ready, the nation would no more need to import petroleum items. Talking at the site of his refinery in Lekki, Dangote said his refinery would put an end to fertiliser importation fertiliser in Nigeria, changing the nation into a net exporter of refined crude oul and fertilizer.
Dangote said he had been working with the administration and the national bank of Nigeria (CBN) in diversifying the economy.
Godwin Emefiele, the CBN governor, who went to the Dangote free trade zone, said the CBN would give the required needed trade to the refinery, including that the refinery, upon completion, would generate $6 billion dollars in outside trade for Nigeria.
The Organization of Petroleum Exporting Countries (OPEC), in its reality oil outlook for 2015 said Dangote is in charge of about 50 percent of refinery tasks in Africa for the next five years.
The refinery is required to cost about N2.8 trillion and refine around 650,000 barrels of raw petroleum every day.
