Another chapter will this year be opened in the downstream sector of the petroleum industry, when business mogul Alhaji Aliko Dangote kicks off his plan to establish a refinery in the country.

The federal government had, in 2011, granted approval to 19 multinationals for the setting up of private refineries in the country, but none of them has come on stream due to the regulation of the price of fuel in the country.

Though details of where the refinery will be sited and its capacity were yet to be made known, work on the refinery, which will cost $8 billion, will begin this year.

At a breakfast meeting with some senior editors to mark his 57th birthday in Lagos, Alhaji Dangote said work will start on the refinery once his company secured the final approval from the federal government.

While acknowledging the fact that only a mad businessman would consider establishing a refinery in Nigeria under the present uncertain business terrain of subsidising the downstream sector of the petroleum industry, Dangote pleaded with the government to allow market forces to determine the price of fuel to allow the private sector play a significant role in the industry.

"We are all aware that the federal government had issued 19 licences to the private sector to establish refineries in the country, but how many of them have come on stream? There is uncertainty in the sector and only a mad businessman will put up a refinery now, but we are set to do that," he said.

Alhaji Dangote urged the federal government to put in place critical infrastructure in all sectors of the economy to kick-start its rapid development.

He said that with the country's population expected to hit 200 million by 2015, there were no serious plans to take care of the huge population.

He also called on the government to diversify the economy by intensifying reforms in agriculture.

http://leadership.ng/nga/articles/52005/2013/04/13/dangote_build_8bn_oil_refinery.html

Ok

Good development

I'm wouldnt be surprise if the refinery is built in one of the Northern state.

Oya @ your mark, get set go!

This guy is coming to take over oil sector.

That is why i like that man, he is not afraid of setting up the business others are afraid of doing in Nigeria.
In 10years now other oil marketers will be calling him monopolist.

@op,Dangote nt d speln u ve up there@topic,gud development,atleast sme lazy nairalanders complaining abt unemployment wl ve sumtn to do wen d constructn starts.

what is your source and edit your OP

So after sleeping overnight in my house built with dangote cement, i will still need waking up in the morning to boil my water for tea which has dangote's sugar with gas from dangote's refinery, and cook my dangote's shaggetti also with dangote's kerosene.
Drive to my working place with my car running on dangote's petrol. Only to gat to work and realised there is no PHCN light then thinking of how to run our generator on Dangote's diesel.
Even about 5% of the air breathe in will be dangote from the combustion of his fuels to the atmosphere likewise the air breathe out will be dangote from the catabolism of the sugar, spaghetti and indomine i eat everyday.
Applied for dangote's truck driving school, but wasn't admitted but still putting my hope on the post of the dangote group company financial manager i recently applied for.

Why all these God? when am not a product of dangote's company!

Source pls. Since the govt is sleeping, private individual should venture into refining crude.

careytommy: what is your source and edit your OP

Are you doubting Aliko or what?

http://www.google.com/url?q=http://leadership.ng/nga/articles/52005/2013/04/13/dangote_build_8bn_oil_refinery.html&sa=U&ei=tAFpUa65JKSW0AXztIDADw&ved=0CAcQFjAA&usg=AFQjCNFN2ATKGwcIYHdvRKFsMDnFXCgk-w

fkaz:

Are you doubting Aliko or what?

http://www.google.com/url?q=http://leadership.ng/nga/articles/52005/2013/04/13/dangote_build_8bn_oil_refinery.html&sa=U&ei=tAFpUa65JKSW0AXztIDADw&ved=0CAcQFjAA&usg=AFQjCNFN2ATKGwcIYHdvRKFsMDnFXCgk-w

My friend take corrections, not "dangoke" its dangote.

Subsidy needs to go as soon as possible.

Super1759:

My friend take corrections, not "dangoke" its dangote.

And you weh know, why you still dey talk

Leave that job for the MODS

oluwadare26: I'm wouldnt be surprise if the refinery is built in one of the Northern state.

so why not North......?

oluwadare26: I'm wouldnt be surprise if the refinery is built in one of the Northern state.

^^^Most likely Kogi or any other fringe northern state, with a pipeline linking it to the south-south; like the Kaduna refinery.

If not in the north, then the next obvious place would be Ogun, Ondo or Edo states.

I don't see him building it in Abia or Imo though.

Kudos to him all the same!

careytommy: what is your source and edit your OP

I'll find you and I'll kill you

oluwadare26: I'm wouldnt be surprise if the refinery is built in one of the Northern state.

Dangote is a business man and his location will be based on market force, availability of raw materials and security, that is why most of his investments are in the south.
I don't really believe he uses sentiments in his choice of location.

Hope he will construct the refinery in sokoto

.

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very much likely this topic hits the homepage soon.

What this means is that FG will remove fuel subsidy soon. If that happens, all state owned refineries will be privatised.

Meanwhile, there is Orient refinery who are waiting for subsidy removal. A 9ja Delta oil company located in Rivers iS refining Diesel and Jet Fuel (not sure) and aRe waiting for subsidy removal to move into PMS. Plus so many other refineries that are still online.

BoTtomline, Dangote may not find it easy monopolising this market. Except maybe a Northerner becomes the President come 2015

Tolexander: So after sleeping overnight in my house built with dangote cement, i will still need waking up in the morning to boil my water for tea which has dangote's sugar with gas from dangote's refinery, and cook my shaggetti also with dangote's kerosene.
Drive to my working place with my car running on dangote's petrol. Only to gat to work and realised there is no PHCN light then thinking of how to run our generator on Dangote's diesel.
Even about 5% of the air breathe in will be dangote from the combustion of his fuels to the atmosphere likewise the air breathe out will be dangote from the catabolism of the sugar, spaghetti and indomine i eat everyday.
Applied for dangote's truck driving school, but wasn't admitted but still putting my hope on the post of the dangote group company financial manager i recently applied for.

Why all these God? when am not a product of dangote's company!

I wil nt be surprised if it is Dangote Ankara u intend to wear for ur outing today.

oluwadare26: I'm wouldnt be surprise if the refinery is built in one of the Northern state.

And so
Is it your money

[size=15pt]Another way for the rich to get richer and the poor to get poorer. This guy will monopolise the oil industry. Greedy Man[/size]

Marketers are enjoying now but the manufacturers will enjoy in the future

oluwadare26: I'm wouldnt be surprise if the refinery is built in one of the Northern state.

no he wil build it in sango ota becos dias no land in the north were he wil build his refinery.hopless yoruba man so u want him to invest in ur land while d highest investment a yoruba man has outside d west is a trado medical shop or a jalopy used for taxi,u tink others re fools nd ure d only wise folks.shame on u folks

Wow..dat niccur be thinking like me!...I'm sure he has igbo blood running through his vein (literally speaking o!...cos some folks here wud just get it twisted)...

BTW, let him situate the refinery in Jos or Benue state...we in anambra already got one( so I learnt sha)...


Kudos to him!...instead buhari wud think like this, he's there clamoring for Aso rock and some other things younger men shd be thinking of.

He sells cement, sells flour, in real estates, has an office in NNPC Abuja's office, he's into oil and gas through Dantata his sibling, formerly owns half of Intercontinental Bank and he's the main reason Akingbola isn't rotting in jail right now, he formulates the nation's agricultural policies and currently got GEJ handling him full power to start selling rice for Nigerians since we spend about a billion on it daily and this greedy Alhaji needs the money. Been one of the so-called cartel, he was the only person who escaped persecution and now he's been given the green light to build a refinery. An AGIP any govt in power guy, and some people think he's a role model. The guy is nothing a crooked corrupt and penny-grubbing don. He sounds like those character in Mario Puzzo's novel. What a useless country. Why not rename the damn thing to Dangoria!

Little by little dis man is gradually becoming a monopoly dis is wat u get wen d government is not active on issues of national development well kudos to him atleast dat will create employment and save us some foreign exchange

Itz a welkum developmnt