Oil Business Dangote plans 'first private crude oil refinery in Nigeria'

He is planning to set up a $12 billion oil refinery with a capacity of 650,000 barrels a day in Nigeria.

  • Published: , Refreshed:
Aliko Dangote play

Aliko Dangote

(Getty Image )
24/7 Live - Subscribe to the Pulse Newsletter!

African's richest man Aliko Dangote plans to shift focus from Cement business to oil and gas.

He is planning to set up a $12 billion oil refinery with a capacity of 650,000 barrels a day in Nigeria.

Mr. Dangote told Reuters the $12bn refinery will be ready at the beginning of 2019.

"It will be ready in the first quarter of 2019," Dangote told Reuters. "Mechanical completion will be end of 2018 but we will start producing in 2019."

Dangote also has plans for a gas pipeline through West Africa, Reuters adds.

Dangote plans to build cement plant in eight Africa countries: Cameroon, Ethiopia, Kenya, Mali, Niger, Nigeria, Senegal and Zambia by 2018.

Another plant will open in Congo Republic by September, he added.

This would double his current cement business.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos

Top Articles

1 Bank of Ghana Here are the banks with the best deposit rates in Ghanabullet
2 Cash-For-Seat I’ll be shocked if Fakhri paid  – Akufo-Addobullet
3 Salaries In 2018 Here are the dates public workers will be paid in 2018bullet
4 Petroleum Products OMCs confirm increase in fuel pricesbullet
5 Cash For Seat Allegations against Trade Ministry ‘flimsy’ and...bullet
6 Aviation British airways has received a tongue lashing from...bullet
7 Menzgold Ghana Don't deposit money with Menzgold – BoG...bullet
8 Cash For Seats Expatriates fail to appear before ad hoc...bullet
9 Gov't Promises 1 District, 1 Factory has the potential...bullet
10 Taxes In Ghana 3% VAT flat rate takes off in July 1bullet

Top Videos

1 Support Finance minister buys Kantanka carbullet
2 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
3 Tech 6 reasons you should buy an iPhone SE instead of any of the...bullet
4 Vodafone adbullet
5 Plane Crash Starbow suspends operations following plane crashbullet
6 Entrepreneurship How To Get Ready To Get Started | StartUpSchoolbullet
7 Video African leaders must understand the role of technology...bullet