{"id":8601,"date":"2016-09-26T16:36:47","date_gmt":"2016-09-26T15:36:47","guid":{"rendered":"http:\/\/nationalwire.com.ng\/?p=8601"},"modified":"2016-09-26T16:36:47","modified_gmt":"2016-09-26T15:36:47","slug":"dangote-17bn-dollars-refinery-to-create-300000-jobs-official","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/dangote-17bn-dollars-refinery-to-create-300000-jobs-official\/","title":{"rendered":"Dangote 17bn dollars refinery to create 300,000 jobs \u2014 Official"},"content":{"rendered":"
\"Aliko<\/a>
Aliko Dangote, President Dangote Group<\/figcaption><\/figure>\n

Dangote 17bn dollars refinery to create 300,000 jobs \u2014 Official<\/strong>
\n<\/strong>
\nThe Dangote Industries Limited 17 billion-dollar refinery project will create over 300,000 direct and indirect jobs by the first quarter of 2019, the Chief Operating Officer, Mr Olakunle Alake, has said. Alake made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos on Monday, adding that the refinery, petrochemicals and fertiliser plants were in one location.<\/p>\n

He said the project would be the single largest stream in the world. \u201cThe refinery and fertiliser projects will create job opportunities for the communities and Nigerians when it becomes operational. \u201cThe refinery will have a refining capacity of about 650,000 barrels of crude a day,\u2019\u2019 he said.<\/p>\n

Alake said the project would force down the price of Premium Motor Spirit (petrol) in the country and save money spent on importation. He said that projects such as these would optimise government revenue and wean Nigeria from relying solely on oil.<\/p>\n

According to him, the best way to diversify Nigeria\u2019s economy is through agriculture and the fertiliser plant is in line with that goal. The chief operating officer said that the 98 per cent \u00a0of basic engineering on the fertiliser plant had been executed,\u00a0 while the construction had progressed by 30 per cent.<\/p>\n

\u201c By the time we finish our gas pipeline it will be able to generate about 12,000mw which can be exported to other African countries. \u201cWe will have the capacity to store four billion litres of products and load 2,680 trucks per day.<\/p>\n

\u201cThe project will aid the country with about 7.5 billion dollars forex savings on importation. \u201cIt will also generate five billion dollars forex earnings from savings and another 5.5 billion dollars export earnings,\u2019\u2019 he said.<\/p>\n

Alake gave assurance that there would be markets for the refined products, saying that only three countries in Africa had effective and functional refineries, while others imported. Alake said the projects would help the country save five billion dollars on oil importation when it became operational in 2019.<\/p>\n

\u201cBy the time we complete this project, there will be opportunity to take on agriculture and say bye to poverty because there will be jobs; no sector has more job potential than agriculture.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u201cThough the project is an ambitious one but when completed it will give Nigeria a new economic direction in its quest for economic diversification.\u2019\u2019<\/p>\n

He said excess products would be exported to give Nigeria the much needed foreign exchange.<\/p>\n

\u201cThat is when diversification starts,\u2019\u2019 he said. Alake said, however, that access to foreign exchange posed serious challenges to the projects.<\/p>\n

\u201cWe aim to complete the projects within the time frame to assist in easing the forex problem.<\/p>\n

\u201cWe appeal to the Federal Government to support these private initiatives by providing funding for the projects.<\/p>\n

\u201cHowever, government through the Bank of Industry schemes has given us a credit facility of N50 billion to develop the fertiliser plant.<\/p>\n

\u201cWe have also gotten another N75 billion approval for the refinery, which we have not yet accessed,\u2019\u2019 Alake said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dangote 17bn dollars refinery to create 300,000 jobs \u2014 Official The Dangote Industries Limited 17 billion-dollar refinery project will create over 300,000 direct and indirect jobs by the first quarter of 2019, the Chief Operating Officer, Mr Olakunle Alake, has said. Alake made the disclosure in an interview with the News Agency of Nigeria (NAN) …<\/p>\n","protected":false},"author":11,"featured_media":8207,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[],"coauthors":[2392,2393],"class_list":["post-8601","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news"],"yoast_head":"\nDangote 17bn dollars refinery to create 300,000 jobs \u2014 Official - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/dangote-17bn-dollars-refinery-to-create-300000-jobs-official\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote 17bn dollars refinery to create 300,000 jobs \u2014 Official - National Wire\" \/>\n<meta property=\"og:description\" content=\"Dangote 17bn dollars refinery to create 300,000 jobs \u2014 Official The Dangote Industries Limited 17 billion-dollar refinery project will create over 300,000 direct and indirect jobs by the first quarter of 2019, the Chief Operating Officer, Mr Olakunle Alake, has said. 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