President of Dangote Group, Alhaji Aliko Dangote has 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. The refinery will be located in Ondo State. He disclosed this during an interview when the Annual General Meeting of Dangote Cement held in Abuja.
Dangote group would provide half of the money while the rest would be sourced from two foreign banks and Nigerian banks. He is worth over $16 billion in net assets, according to Forbes Magazine, making him the richest on the continent.
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