The President of the Dangote Group and founder of the Dangote Petroleum Refinery, Aliko Dangote, has announced that a significant ‘shakedown’ in the country will be revealed soon.
Dangote clarified that this initiative is not focused on price cuts, but rather on a comprehensive overhaul of the downstream sector. He made these comments during an interview with reporters following President Bola Tinubu’s recent visit to the $20 billion refinery in Lekki, Lagos.
When asked about the ‘big thing’ he has planned for Nigerians with the refinery, Dangote responded, “Now that the President has visited and he has given us additional energy, we will inform you, you will hear from us soon, and that will be one of the major shakedowns in the entire country. It is not the reduction of price; it will be the total overhaul of the downstream.”
Dangote, who kept details under wraps, emphasized that the company is set to embark on a “massive trajectory” with the refinery.
“I told the President that he had not seen anything yet; we are going on a massive trajectory, much more than what you have seen here. If you come back in the next five years, the refinery will be on the back burner,” he stated.
The businessman also reiterated that the refinery will be listed on the stock exchange market, starting with the fertilizer company this year.
He acknowledged the positive effects of President Tinubu’s economic policies, stating that recent reforms have created a more favorable environment for industrial growth and long-term investment.
