Aliko Dangote is arguably one of the richest men in the world. In an interview with top Nigerian media executives, the soft spoken man explains how five to ten Nigerians can make Nigeria’s economy great if encouraged to invest at home.
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“We are building a refinery and our refinery will make more money if there is subsidy. We have changed the size of the refinery three times because we are looking at the maximum we can do that has ever been done. We started with about 400,000, then we shifted to 500,000. Now, we took it to 650,000 barrels per day. That’s the biggest ever single line thresh of refinery. It’s a huge plant and it comes with a lot of challenges, but at the end of the day, it will save us a substantial amount of money. Presently, about 38% of our foreign exchange goes to petroleum products, so I think that will totally eliminate it and eliminate all the imports. We will also be able to export and we won’t do it all by ourselves. Other refineries will produce. Even if other refineries are not working, we’ll be able to satisfy 100% local demand and we’ll be able to export massively. Five to ten people can make Nigeria a great economy. We have to encourage Nigerians to invest at home,” he said.
“We are building a refinery and our refinery will make more money if there is subsidy. We have changed the size of the refinery three times because we are looking at the maximum we can do that has ever been done. We started with about 400,000, then we shifted to 500,000. Now, we took it to 650,000 barrels per day. That’s the biggest ever single line thresh of refinery. It’s a huge plant and it comes with a lot of challenges, but at the end of the day, it will save us a substantial amount of money. Presently, about 38% of our foreign exchange goes to petroleum products, so I think that will totally eliminate it and eliminate all the imports. We will also be able to export and we won’t do it all by ourselves. Other refineries will produce. Even if other refineries are not working, we’ll be able to satisfy 100% local demand and we’ll be able to export massively. Five to ten people can make Nigeria a great economy. We have to encourage Nigerians to invest at home,” he said.
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