I Will Personally End Importation Of Fuel In Nigeria - Dangote Boss

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Africa’s richest man and President of Dangote Group Alhaji Aliko Dangote yesterday 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, to be located in Ondo State, Dangote said in an interview after the Annual General Meeting of Dangote Cement in Abuja. Dangote group would provide half of the money while the rest would be sourced from two foreign banks and Nigerian banks.

“We hope to start something by end of the year. We have put down 50 percent of the money. We have secured $4.25 billion from two foreign banks and the rest from local banks,” Dangote said.

Revealed: Most Private Jets In Nigeria Are Owned By Fuel Subsidy Thieves

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“As the government needed to import fuel to augment local consumption, it enriched its cronies who engaged in fraudulent importation of fuel through fake mother and daughter vessels. Most of the 150 private jets in the country today are owned by fraudulent fuel importers.

“Last year, the IMF and its local lackeys claimed that the economy would collapse if petrol was not sold at N141 per litre. But with massive strikes and protests, the price was reduced to N97. Did the economy collapse? These are voodoo economists.”

Human rights lawyer, Femi Falana, a Senior Advocate of Nigeria, said this while reacting to the latest call by the IMF for the removal of fuel subsidy in Nigeria.