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Nigeria: Dangote Group Hopeful U.S.$9 Billion Refinery Kicks Off By 2017

2015-03-19 07:34:45| Sugar Industry News

A new $9 billion oil refinery producing 500,000 barrels per day being developed by Africa's richest man, Aliko Dangote, is expected to come on stream in Nigeria by 2017, a senior Dangote Group official said yesterday. The refinery, to be located in Lagos, will cut Nigeria reliance on international markets for refined petroleum products, which constitute imports of more than 80 percent of the nation's fuel needs. The lack of sufficient refining capacity is a major handicap in Nigeria.

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