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- Nigeria’s Vice President, Kashim Shettima, has praised Aliko Dangote for his patriotism successful gathering the world’s largest single-train refinery successful Nigeria
- Shettima disclosed that Dangote prioritised nationalist improvement implicit investing the $19 cardinal utilized to physique the refinery successful large tech firms
- The VP said if Dangote had invested successful firms similar Microsoft, Amazon, oregon Google, helium would person been $120 cardinal richer by now
Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.
The Nigerian authorities has hailed Africa’s richest antheral and industrialist, Aliko Dangote, for choosing nationalist improvement implicit the monolithic windfall from the planetary tech industry.
Nigeria’s Vice President, Kashim Shettima, disclosed this successful a tribute to the billionaire and stressed the value of the $19 cardinal Dangote Refinery to Nigeria’s economical well-being.
Source: Getty Images
FG praises Dangote’s patriotism
Shettima spoke astatine the Taraba International Investment Summit 2025 successful Jalingo, wherever helium represented President Bola Tinubu.
The VP disclosed that Dangote could person chosen to put his resources successful large tech firms specified arsenic Microsoft, Amazon, oregon Google and earned immense returns.
“He started this task successful 2007/2008. If helium had invested the $19 cardinal that it took him to acceptable up the Dangote Refinery successful Microsoft, successful Amazon, successful Google, helium is going to beryllium worthy $120 cardinal now,"Dangote’s wealthiness balloons
Shettima said Nigeria’s economical translation indispensable statesman astatine the grassroots and beryllium powered by locally sourced materials.
The $19 cardinal Dangote Refinery is the largest single-train installation successful the satellite and Africa’s biggest, and it is Aliko Dangote’s astir ambitious project.
Legit.ng reported that Dangote’s net worthy ballooned to implicit $28 cardinal aft the refinery’s launch, boosting his wealthiness by $13 cardinal and solidifying his presumption arsenic Africa’s wealthiest individual.
The determination besides improved his planetary status, catapulting him to the 64th richest antheral globally, from beneath the 100th spot connected the Bloomberg Billionaire Index.
According to reports, the mega refinery is designed to process 650,000 barrels of crude lipid regular and is expected to trim Nigeria’s dependence connected substance imports.
Dangote Refinery threatens Europe
The Organisation of Petroleum Exporting Countries (OPEC) said the elephantine refinery surpasses 10 of Europe’s largest refineries and will disrupt the EU lipid market.
The refinery began processing crude successful 2024, rolling retired aviation fuel, diesel and petrol successful speedy succession.
Its accumulation importantly lowered petrol prices, which deed N1,200 per litre erstwhile the Nigerian authorities ended the subsidy connected petroleum products.
Source: UGC
Experts accidental the mega works could extremity the long-standing petrol commercialized from Europe to Africa, valued astatine $17 cardinal annually.
Dangote refinery begins caller product
Legit.ng earlier reported that Dangote Refinery has announced a partnership with Vinmar Group, a planetary petrochemical distributor, to export Dangote polypropylene into the planetary market.
Dangote’s $2bn works successful Lagos, with a accumulation capableness of 830 mt, began producing polypropylene successful March 2025, packaging 25kg bags for the Nigerian market.
Dangote Group’s enforcement director, commercial, Fatima Aliko Dangote, disclosed that the determination shows the company’s thrust to marque Dangote polypropylene a world-class company.
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Source: Legit.ng
