Tag: Aliko Dangote

“Int’l oil traders plotting to cripple refineries in W/Africa” – ÆŠangote

Aminu Imam
ÆŠangote on oil traders

President/Chief Executive of ÆŠangote Industries Limited, Aliko ÆŠangote, has said international traders are deliberately frustrating the establishment of new refineries and the efficient operation of existing ones in Africa, to protect their own interests. ÆŠangote made these remarks as a keynote speaker at the ‘West African Refined Fuel Conference’ in Abuja, organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and S&P Global Commodity Insights. According to ÆŠangote, international traders maintain the offshore Lomé floating market, where over one million tonnes of petroleum products are stored in vessels…

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Kaduna: Ɗangote Foundation distributes rice to 35,000 families 

Aminu Imam
ÆŠangote Foundation

The Aliko ÆŠangote Foundation has distributed 35,000 bags of rice, each weighing 10 kilogrammes, to the 23 local government areas of Kaduna State. The initiative is part of the foundation’s annual National Food Intervention Project, which aims to support over one million disadvantaged Nigerians across the country. Kaduna State governor, Senator Uba Sani, commended Aliko ÆŠangote and his Foundation for their commitment to fighting hunger and poverty in Nigeria, noting that each local government will get 1,522 bags, adding that the foundation’s interventions have been well-targeted and impactful. “The Aliko…

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?angote’s wealth doubles to $28bn, as refinery begins production – Report

Aminu Imam
Dangote diesel

Africa’s richest man, Aliko ?angote, has seen his wealth more than double to $27.8 billion following the long-awaited opening of his Nigerian oil refinery, according to the Bloomberg Billionaires Index. The ?angote Refinery in Lagos is the biggest single-train oil refinery in the world and one of the most complex, capable of processing most global crude types. It has the potential to transform Nigeria’s economy by making the country self-reliant for fuel. The 67-year-old Nigerian industrialist now leads one of Africa’s most ambitious private enterprises: a refinery poised to transform…

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Flood Disaster: ?angote donates N2bn to Maiduguri victims

Aminu Imam

…Urges Corporate Nigeria to support Borno The Chief Executive Officer of ?angote Industries, Aliko ?angote has announced the donation of N2 billion to assist those affected by the recent devastating flood in Maiduguri, the Borno State capital. ?angote explained that while the Presidential Committee on Flood and Disaster, which he chairs, has committed N1 billion, the ?angote Foundation will donate an additional 1 billion naira. “We have a Presidential Committee on Flood and Disaster which I chair. They have already committed about 1 billion, and the Aliko Dangote Foundation will…

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High sulphur contents: “Oil & Gas  Regulators undermining, instead of safeguarding the market” – ?angote

Aminu Imam
Dangote NMDPRA

President of ?angote Group of Industries, Aliko ?angote, has advised regulators of Petroleum Refinery & Petrochemical products to safeguard the market rather than undermining it. ?angote, who disclosed this during the weekend,stated that dubious certifications accompany the importation of high-sulphur diesel into Nigeria, causing both health risks and financial losses for Nigerians. Aliko, Africa’s richest man was reacting to the statement credited to the Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), Engr. Farouk Ahmed, who had alleged that ?angote Refinery and other modular refineries such as…

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“Why I don’t own houses outside Nigeria” – ?angote

Aminu Imam
Aliko Dangote

Africa’s richest man, Alhaji Aliko ?angote, has explained that his passion for an industrialized Nigeria is the sole reason he doesn’t have houses outside Nigeria. Speaking during a media parley at the ?angote Petroleum Refinery, Ibeju-Lekki area of Lagos State, ?angote revealed that he once had a London house, which he sold in 1996. He added that the reason he doesn’t have a London or America house is solely because he wanted to focus on industrialization in Nigeria,as well as using his companies to provide a job opportunity for the…

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?angote faults CBN’s 30% interest rate

Aminu Imam
?angote faults

Chairman and Chief Executive of the ?angote Group, Aliko ?angote, has criticised the latest increment of interest rate to almost 30 percent by the Central Bank of Nigeria (CBN). While addressing the audience during the opening session of a three-day summit organised by the Manufacturers Association of Nigeria (MAN) at the State House, Abuja, yesterday, ?angote said businesses could not cope with the current rate. Recall that in May, following a two-day meeting, CBN’s Monetary Policy Committee (MPC) agreed to increase the Monetary Policy Rate (MPR) for the third straight…

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??angote raises concern over workings of Africa Continental Free Trade Area agreement

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??angote AfCFTA

President and Chief Executive of ??angote Industries Limited, and Africa’s richest man, Aliko ??angote, has expressed concern over workings of the Africa Continental Free Trade Area agreement, (AfCFTA), which Nigeria is a signatory. While speaking on Intra-Africa trade issues, during an interview on a CNN programme: Connecting Africa, ?angote argued that Nigeria is not against the AfCFTA, pointing out that the regional economic block needs to function properly before a continent-wide agreement can prosper.??The business mogul shared an experience, saying:  ?“I am going to Egypt tomorrow; but I need a visa. They…

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“Our refinery has slashed diesel price by over 60% in Nigeria” – ?angote

Aminu Imam
?angote on diesel

Aliko ?angote, Africa’s richest individual, announced that the supply of diesel from his Dangote Refinery has caused a roughly 60% decrease in the commodity’s price in the local market. ?angote made this statement on Wednesday, during his speech at the Afro-Caribbean Trade & Investment Forum in Nassau, The Bahamas. The business mogul stated that before the ?angote Refinery began operations, diesel was sold at around N1,700. However, the refinery reduced the price to about N1,000, marking a drop of approximately 60%. He also noted that despite the exchange rate rising…

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‘Naira’s devaluation from N460 to N1,400 was the biggest mess created for 2023 – ?angote

Aminu Imam
Dangote

Chairman of ?angote Industries Limited, Aliko ?angote, has declared that the Naira devaluation had a significant negative impact on the company in the year 2023. ?angote, who addressed attendees on Tuesday at the yearly general assembly of ?angote Sugar Refinery Plc., conveyed that the company is diligently working towards delivering dividends this year. He stated that numerous companies, particularly those in the food and beverages sector, have also been impacted and may face challenges in distributing dividends. “We are doing whatever it takes to make sure that at the end…

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