Billionaire businessman Aliko Dangote spoke to
journalists on Saturday during a tour of his refinery with Bayo Ojulari, Group
Chief Executive Officer of NNPC Limited, highlighting plans for collaboration,
potential upstream partnerships, and public investment opportunities in the
project.
Dangote emphasised that both organisations share a
common goal of advancing Nigeria’s energy and industrial capacity. “I think the
sky is the limit and we [NNPC and Dangote Refinery] will cooperate and also
make sure that we work together to make Nigerians proud,” he said.
On areas of cooperation beyond refinery expansion,
Dangote said discussions are ongoing regarding potential joint ventures across
the petroleum value chain. “Most likely, depending on our discussions with
them, we will partner with them, maybe in some of the upstream. They, too, will
partner with us here because here is not a refinery. It’s an industrial hub,”
he added.
Highlighting national participation, Dangote noted
that NNPC holds a 7.25% minority stake in the refinery on behalf of Nigerians.
Plans are also underway to allow individual citizens to directly invest in the
project. “In the next maximum four or five months, they will actually be able
to buy their shares,” he said.
Investors will have flexibility in receiving returns,
with the option of dividends in either naira or dollars, reflecting the
refinery’s foreign earnings.
Dangote further revealed that new industrial projects
within the complex, including production of linear alkylbenzene (used in
detergents), are expected to position the facility as a continental supplier.
“That raw material for detergent will be sufficient for the entire African
continent… and we will deliver all this in the next 30 months,” he said.
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