Dangote To List Crude Oil Refinery On Nigerian Inventory Trade

President of the Dangote Group, Aliko Dangote, has mentioned that its crude oil refinery which is expected to come back on stream in 2019 shall be listed on the Nigerian Inventory Alternate.

Dangote spoke to journalists on Monday after beating the closing gong at the NSE in Lagos.

The billionaire businessman, who is Africa’s richest man, stated that the refinery identical to four of his corporations already listed on the NSE.

He mentioned, “We will record each single company that we create between now and the end of my life. We pray that very soon, we will begin having our AGMs in stadiums and not in hotels. And meaning that we will create something like about two to 3 million shareholders and I’m positive everyone can be joyful./p>

His bell ringing was part of actions in commemoration of his 60th birthday.

Dangote stated that the refinery will improve local refining of the nation’s crude oil, and save the nation a lot of money presently being spent on the delivery crude oil and petroleum products abroad.

“Refining business is not a business that you simply make 50 per cent margin from; the margin is low however what you depend upon is the quantity of business that you have there, and that is the reason why we are building a 650,000-barrels-per-day refinery. It’s a really massive one,he mentioned.

In accordance with him, the refinery will create jobs while its merchandise shall be distributed to filling stations across the nation.

“When you travel around, you see that, especially in the northern part, more than 50 per cent of the filling stations aren’t operational,he stated. What we are building immediately is more than one hundred instances bigger than where we’re. That is the trajectory that we are seeing in the subsequent 10 years.

“We will take cost of diversifying the economy of Nigeria, most particularly working with the government as companions to make sure that we diversify the financial system and to spread prosperity to Nigerians. I think I must continue now to dedicate the rest of my life to making sure that the prosperity is spread all over,he mentioned.

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