Connect with us

News

$23bn Refinery: If it had failed, I would have been dead-Dangote confesses

Published

on

Richest man in Africa, Aliko Dangote has said his $23billion Dangote Refinery project is the “biggest risk” he has ever taken.

Dangote who has established himself as the most successful entrepreneur in Nigeria says “I was dead” if it didn’t work.

He made this known in an exclusive interview on Forbes on Monday, February 17 as he opened up on the risks involved in such a massive undertaking.

Despite the refinery’s capacity of 650,000 barrels per day and its status as Africa’s largest, Dangote revealed that the journey to completion was fraught with uncertainties.

Advertisement

Dangote also spoke about the hurdles he faced in financing the project, the regulatory challenges, and securing suppliers.

Dangote said he is committed to providing a blueprint for industrialisation across Africa.

“We have to build our own nation by ourselves. We have to build our own continent by ourselves, not [rely on] foreign investment.

He added that Africa has been “a mere dumping ground for finished products,” and his refinery represents “a pivotal step in ensuring that Africa has the capacity to refine its own crude oil, thereby creating wealth and prosperity for its vast population,” he said.

Advertisement

Undeterred by the challenges, Dangote is determined to ensure the success of his refinery.

According to the Forbes report, despite establishing a family office in Dubai and involving his three daughters in various roles within the family business, his focus remains firmly on Nigeria.

He continues to dedicate much of his time to the refinery, regularly meeting with engineers and managers to oversee progress.

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

President Tinubu endorses bills establishing varsities in Osun, Ekiti

Published

on

By Kayode Sanni-Arewa

President Bola Tinubu on Thursday, February 20, 2025, endorsed to two bills establishing the Federal University of Agriculture and Development Studies, Iragbiji in Osun State, and the Federal University of Technology and Environmental Sciences, Iyin Ekiti, Ekiti State.

He said these specialised institutions will address the educational needs of the populace while driving research and innovation and contributing to the country’s overall economic growth and development.

He said the institutions will serve as training grounds for developing agriculture, science and technology professionals and enhancing Nigeria’s competitiveness in the global economy.

Advertisement

According to the National Universities Commission (NUC), Nigeria currently has 63 approved federal universities, 63 State universities, and 149 private universities.

On February 3, 2025, the president approved the establishment of the Federal University of Environment and Technology (FUET) in Ogoni town of Tai, Rivers State.

Tinubu also consented to the federal government’s takeover of a forfeited private university in Southern Kaduna and its transformation into a federal university.

Advertisement
Continue Reading

News

“I will advise Trump not to be weak with Putin – Macron

Published

on

By Kayode Sanni-Arewa

President Emmanuel Macron said Thursday that France was entering a “new era” and that he planned to tell US President Donald Trump he could not “be weak” with Vladimir Putin.

Macron spoke to the French ahead of a planned visit to the White House to meet Trump next week, as Europe scrambles to respond to his Ukraine war shift.

“I’m going to tell him: ‘You can’t be weak with President Putin. That’s not who you are, it’s not your trademark, it’s not in your interest’”, Macron said as he answered questions from the French public on social media.

Advertisement

Trump will meet in Washington with Macron on Monday and British Prime Minister Keir Starmer on Thursday next week, the White House said.

Trump has sent shock waves around Europe by saying he is ready to resume diplomacy with Putin to end Russia’s three-year war against Ukraine, over the heads of European countries and Kyiv.

In recent days French officials have said the French public needed to understand the magnitude of the threat coming from the Kremlin.

Macron told reporters earlier this week: “Russia poses an existential threat to Europeans.”

Advertisement

On Thursday, the French president said that France needed to beef up security amid the shock policy shift in US-Russia relations.

I am convinced that we are entering a new era. It will impose choices on us,” Macron said. “We Europeans must increase our war effort.”

Macron stressed he did not plan to send troops to Ukraine “tomorrow” but indicated that France was considering providing security guarantees to Ukraine following a ceasefire deal with Russia.

“I have not decided to send troops to Ukraine tomorrow, no,” he said.

Advertisement

“What we are considering instead is sending forces to guarantee peace once it has been negotiated,” he said.

Speaking to AFP earlier Thursday, a French source familiar with the discussions said France was working with European countries to ensure security guarantees for Ukraine in the event of a ceasefire agreement.

Macron also said he planned to speak to Ukrainian President Volodymyr Zelensky later Thursday.

AFP

Advertisement
Continue Reading

News

Insecurity! Ex-presidential Candidate Reportedy Shot, Abducted in Abuja

Published

on

…as bandits demand N100m ransom

By Kayode Sanni-Arewa

An ex- presidential candidate, Eniola Ojajuni, has been reportedly shot and abducted by bandits in Abuja.

Mr Ojajuni was abducted from his vehicle on Monday, family sources revealed.

Advertisement

Mr Ojajuni was the presidential candidate of the defunct Alliance for Democracy, in 2019.

The politician was on his way to a meeting when he was attacked.

“The kidnappers have reached out to his (Mr Ojajuni) wife, demanding a ransom of N100 million,” said a source on Thursday.

The source also revealed that Mr Ojajuni, the national president of the Afenifere Youths Council, was shot in the buttocks during the attack.

Advertisement

“The Afenifere National Youths Council is deeply saddened to announce the kidnapping of its national president, Prince Eniola Joseph Ojajuni, in Abuja, Nigeria.

“During the kidnapping, Prince Ojajuni sustained a bullet wound on his buttock. We are deeply concerned about his safety and well-being, and we urge the kidnappers to release him unharmed,” the youth group said in a statement.

The FCT police command spokeswoman, Josephine Adeh, could not be immediately reached for a comment.

Advertisement
Continue Reading

Trending

Copyright © 2024 Naija Blitz News