Dangote’s inroad into refinery - TopicsExpress

Dangote’s inroad into refinery business ******************************* NIGERIA’S leading business magnate, Aliko Dangote, early this month signed a $3.3 billion loan agreement with a consortium of 12 local and foreign banks to finance the construction of an oil refinery and a petrochemical-cum-fertiliser plant. The project, the biggest of such investment in the country, will gulp a total of $9 billion. This is cheery news for Nigeria’s 170 million people who have been marooned on an island of epileptic fuel supply for over two decades; and against the backdrop of the country’s infamy of importing fuel despite being the world’s sixth largest exporter of crude oil.

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