Friday, 6 September 2013

NIGERIA: Dangote Signs MultiBillion Dollar Deal With Banks To Build Africa's Largest Oil Refinery In Nigeria

JUST WONDERING: Is there really going to be a change with this development or is it just another monopolistic device aimed at enriching a few? Read....

Africa's wealthiest man, Aliko Dangote, has signed a multi-billion dollar deal with banks to finance the building of an oil refinery in Nigeria.

He told BBC in an interview that the refinery would be the largest in Africa, turning Nigeria into a petroleum exporter.

Nigeria is Africa's biggest oil producer but lacks refining capacity and has to import most of its fuel.

The West African state is often hit by fuel shortages, and conflict over control of its oil wealth.

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