Dangote Refinery has revealed its plans to set up a terminal in the Caribbean, aiming to export petroleum products to countries across the North American region. This announcement was made by Aliko Dangote, the president and CEO of the Dangote Group, during Afreximbank\u2019s Trade and Investment Forum held on Wednesday in The Bahamas.<\/p>\n
The business mogul highlighted that the company can efficiently supply petroleum products to the North American region within 18 to 20 days. Dangote disclosed that a bilateral agreement with the region will be signed to facilitate the construction of the terminal for exporting its petroleum products.<\/p>\n
“I am aware that the cost of petroleum products in the Caribbean is very high. We produce them at a lower cost and can easily transport them here. By setting up a terminal, we will be able to meet their needs,” Dangote stated. “With a bilateral agreement in place, it will take a maximum of 18 to 20 days to bring in products, ensuring the availability of affordable oil and energy, which will spur economic growth in the region.”<\/p>\n
Additionally, Dangote mentioned that the $20 billion refinery conglomerate is not only focused on petroleum products but is also keen on investing in the region’s cement industry. He emphasized that Dangote’s cement production capacity, currently at nearly 52 million tons, is projected to rise to about 62 million tons by the end of next year.<\/p>\n
“We are not just looking at oil; our cement production capacity will soon reach 62 million tons. We can supply from Nigeria or other African countries. If the region has limestone, we can produce cement locally, freeing them from dependence on other suppliers. With the necessary ingredients, it would take a maximum of 28 months for them to achieve self-sufficiency, creating a win-win scenario for both parties,” he added.<\/p>\n
The Dangote refinery, with a refining capacity of 650,000 barrels, is poised to become the largest in Africa and Europe once it begins full operations next year. It is anticipated to be a “game changer” in the oil and gas sector, disrupting the $17 billion Africa-European market and reducing Africa\u2019s reliance on imported petroleum products from Europe.<\/p>\n
Moreover, Dangote indicated that the company is also targeting the Brazilian market and other North American countries to supply refined products from the refinery.<\/p>\n
“Our capacity exceeds Nigeria’s needs and will extend to West Africa, Central Africa, and Southern Africa,” Dangote mentioned in a panel discussion in Rwanda a few weeks ago.<\/p>\n","protected":false},"excerpt":{"rendered":"
Dangote Refinery has revealed its plans to set up a terminal in the Caribbean, aiming to export petroleum products to countries across the North American region. This announcement was made by Aliko Dangote, the president and CEO of the Dangote Group, during Afreximbank\u2019s Trade and Investment Forum held on Wednesday in The Bahamas. The business […]<\/p>\n","protected":false},"author":27,"featured_media":34728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-34727","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/34727","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=34727"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/34727\/revisions"}],"predecessor-version":[{"id":34731,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/34727\/revisions\/34731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/34728"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=34727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=34727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=34727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}