Emulate Dangote, African investors told

Dangote

Former Ethiopia Prime Minister, Hailemariam Desalegn, has described as exceptional and enormous the investment of the Dangote Group (https://Dangote.com) in Africa's oil refining sector and urged other private sector investors to take a cue from DG’s investment drive.

Speaking during a recent tour of the Dangote Jetty, Fertiliser and Refinery Plant, Desalegn said the President of Dangote Group, Aliko Dangote, has enormous influence in the sector and that his involvement in the general economic wellbeing of the whole of Africa is unquantifiable.

He therefore encouraged other investors to consider the strategic nature of investments made by the conglomerate and emulate them in order to enhance the value of the continent’s economy.

"I think this is a lesson for other African investors to take the risk and bring about big change. A mega project of this magnitude actually needs dedication and commitment as well as sacrifice."

He insisted that Africa needs massive investments like the Dangote Refinery for economic development.

According to him, investors in the continent must recognize that investment in essential sectors remain critical to sustainable economic growth. “I think this project is not only for Nigeria, but for the entire Africa.”

Group Executive Director, Strategy, Portfolio Development & Capital Projects, Dangote Industries Limited, Devakumar Edwin, said the project would provide 135,000 retail outlets, 26,716 filling stations and 129 depots in Nigeria, while the 2,600 trucks for transport will create additional jobs.

Another invaluable area of interest the project will enhance is in the area of skill development and capacity building for Nigerians, and already, the training of the second batch of Nigerian engineers has started in India, Edwin added.

 “We are sending all engineers abroad in batches. They will engage in classroom training for one month and on-the-job training of one year. They will be working with real time experts in the industry every day.”

He disclosed that the company’s target is for a significant portion of Nigeria’s crude oil production to be refined domestically, rather than imported, thereby creating jobs within Nigeria, and bringing a halt to the current importation of refined petroleum products.