ALIKO DANGOTE PROMISES TO END FUEL IMPORTATION IN FOUR YEARS

The CEO of Dangote Group, Alhaji Aliko Dangote has promised to end
fuel importation in Nigeria in four years when his proposed refinery
comes on stream.

Work would commence later in the year on the proposed 400,000 barrels
per day refinery which is expected to cost $4.25 billion. The refinery
will be located in Ondo State. He disclosed this during an interview
when the Annual General Meeting of Dangote Cement held in Abuja.

Dangote group would provide half of the money while the rest would be
sourced from two foreign banks and Nigerian banks. He is worth over
$16 billion in net assets, according to Forbes Magazine, making him
the richest on the continent.