Aliko Dangote, president of the Dangote Industries Limited (DIL), says Africa has become a dumping ground for substandard petroleum products due to overreliance on imports.
According to a statement on Tuesday, Dangote spoke during a
recent interview with journalists.
Speaking on his decision to build the Dangote refinery, the
billionaire said he was driven by a desire to make Nigeria self-sufficient in
refined petroleum products and to spark similar efforts across Africa, despite
facing numerous challenges and resistance.
He said the massive project was motivated by a vision to
ensure energy independence for Nigeria and the wider continent.
“Apart from Algeria and Libya, which are self-sufficient,
virtually every other African country is an importer,” Dangote said.
He said this situation exists despite Africa’s vast crude
oil reserves, highlighting the urgent need to establish functional refineries
across the continent.
Dangote said many people doubted the Dangote Group’s
capacity to deliver a project of such scale.
He said some even advised him to abandon it, pointing to
failed attempts by sovereign nations to execute similar ventures.
“People think building a refinery is like building a house.
But, as I always say, if I had known the scale of challenges we would face, I
wouldn’t have started at all,” the billionaire said.
“We were fortunate as a group because we didn’t fully grasp
what we were getting into, but we believed that nothing is impossible.”
He said the company reached a point where it had to choose
between cutting its losses or pushing forward to succeed.
“We had to keep pushing to ensure delivery,” Dangote said.
He expressed hope that the refinery will motivate other
African nations to boost their refining capacity and invest in value-added
sectors rather than exporting raw materials.
DANGOTE TO WEALTHY
NIGERIANS: INVEST IN NIGERIA
Dangote urged wealthy Nigerians to invest in the country, as
that is the only path to nation-building.
He said meaningful development cannot occur without major
domestic investments.
Dangote criticised the practice of exporting African wealth
abroad urging entrepreneurs and the affluent to channel their resources into
the continent.
“It is only through such commitment that we can drive true
development,” he said.
“No nation develops without significant investments. I
appeal to all wealthy Nigerians to look inward and invest here, in Nigeria, for
the future of our unborn kids.
“There is hardly any country without corruption, but the
difference between there and here is that, in those other corrupt nations, they
invest the stolen funds in their country and grow their economy rather than
keeping it in foreign banks that will not in any way impact positively on the
economy.”
Dangote said what Africa truly needs are bold,
transformative projects that can confront deep-rooted socio-economic
challenges, especially job creation for its rapidly growing population.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com