The banks are: Standard Chartered Nigeria, Guaranty Trust Bank, Fidelity Bank, Ecobank Nigeria, United Bank for Africa, Access Bank, Zenith Bank, Standard Bank of South Africa, Diamond Bank, First Bank Nigeria, First City Monument Bank, and FirstRand Bank.
Standard Chartered is the global co-ordinator, while Guaranty Trust Bank is the local co-ordinator.
According to a statement released by Dangote Group a few days ago, the factories they plan to build will create about 9500 direct and 25 000 indirect posts. These plants will cut the existing volumes of refined fuel that are imported by almost half which will end the importation of fertilizer in Nigeria.
The company further stated that the 2.8 million tonnes of urea that will be made at these factories will be directed into developing the Nigerian agriculture sector. Aliko Dangote said these factories would showcase Africa as maker of refined oil products and fertiliser.
“As a result, several African nations will be less reliant on importing fuel and fertilizer from foreign markets, reducing the negative impact of negotiating terms within increasingly turbulent international markets"
First to comment ooooo! This is really good, and with this I hope there will be more avenues for employment in nigeria. Getting the youths off the streets, this is good!
ReplyDeleteBut when we go for a loan of two or three mil to start something the bankers will look down their noses.
ReplyDeleteLet's kip hoping @least smtin 2 smile abt
ReplyDeleteSo commendable!! I wish such investment is done into the power sector too, so the issue of Electricity can be fixed. I really think capitalism is exactly what Nigeria needs to go forward.
ReplyDeleteU Can Call Me Names But Abeg 4 Once Try & Change Ur Avatar 4 Cryin' Out Loud... **Deuces**
DeleteWhat a whole country or government cannot do, an individual can. Thumbs up to u oga.
ReplyDeleteShould be a government project. Too much power in private hands.
ReplyDeleteDen y didn't d govt do it. They had a lot of time. Good work Dangote.
DeleteHis own entrepreneur is all about making money and not making positive change. Why oil now while the agricultural sectors you started with is still underdeveloped. Abeg, he should on focus on one at a time. Anyway, hope is venture into oil bizness will bring about positive development in the sectors especially drastic reduction of price. No story of selling crude to you @international price but local content.
DeleteCongrat, let me encourage him small.
Standard Chartered just had to be involved,nice!
ReplyDeleteNo one man should have this kinda monopoly.
But its gonna lead to job creation,wouldn't it?then its a welcomed development.
Spot on Mich,no one man should have this kind of monopoly.We are quick to applaud dangote,soon we will see how much of Nigeria he owns.the only good part is that jobs will be created,besides that,this man is on his way to owning more than half of this country's economy
DeleteNo one man should have this kind of monopoly? Did Dangote choose to monopolize anything or the other daft & blind "big men" in Nigeria would rather go & invest their monies in other countries? Dangote in my opinion is a great & visionary Nigerian man who makes his money majorly in Nigeria & recycles & reinvests his profit in Nigeria. That's no monopoly, that's foresight while a lot of counterparts are running to other countries. God Bless this man. Amen.
DeleteTHE BOSSS IS DOING ISH DAT SHOULD HAVE BEEN DONE AGES AGO INSTEAD OF FEEDING THE SUBSIDY CARTEL FAT, CARRY GO JOR #B1GM1
ReplyDeletethe powers that be! What are they saying! I know there's one God father somewhere. Holding the powers at bay, ensuring that they don't destroy this guy's work. All the best to dangote and his hidden Godfada controlling thinZ! Up Nigeria!
ReplyDeleteTHE BOSSS IS DOING ISH DAT SHOULD HAVE BEEN DONE AGES AGO INSTEAD OF FEEDING THE SUBSIDY CARTEL FAT, CARRY GO JOR #B1GM1
ReplyDeleteWhat a brilliant idea...@least someone is in his right senses...But I still think wif this involving Dangote,The market will be monopolized.Am sure yall know what Monopoly entails.
ReplyDeletefinally! this should have been done a long time ago. the fact the money is loaned by the banks means it's less likely there would be any corruption/money stealing as it is with government-loaned money
ReplyDeleteAll hail the king. More jobs to come.
ReplyDeleteThis man will just be getting richer.... It's good though
ReplyDeletefibroid and infertility??
God bless Dangote and give us the grace to think productive. To be rich Is to think productive.
ReplyDeleteWe see the light at the end of th tunnel, he didn't have to take this huge risk, but he did,.,.i hope everything goes as planned,.,#proudnigerian
ReplyDeleteNice idea Dangote,@ least ds will create job employments for jobless nigerian youths..u aint like olusegun agagu(former ondo state governor)who has a refinery in s/africa.and d cost of petrol is high in our country.God will make ur dream come tru Aliko.
ReplyDeleteLovely news.
ReplyDeleteA new dawn for our petroleum sector.
ReplyDeleteimagine how Nigeria would be if our politicians had this spirit of investing in the country.
~BONARIO~says so via NOKIA3310
Hmmmm
ReplyDeletewise man. only the rich reasons richly. but check a poorman, he battles with the petite..
ReplyDeleteLmao! I totally agree with you.
DeleteA nice development. I like how this man its investing in our nation thereby creating more jobs
ReplyDeleteA nice development. I like how this man its investing in our nation thereby creating more jobs
ReplyDeleteGreat Initiative, that's what I'm talking about! Dope!!
ReplyDeleteCongrat to him, hope this yield much development. We need more competitor asap. Oya Otedola take over.
ReplyDeleteLearn the secrets to burning fat and eating healthy
hmmmm business men sha
ReplyDeleteclick HERE for more gist
So $3.3 Billion can build a refinery,yet our useless govt cannot come up with this money to maintain and repair the ones we already have?
ReplyDeleteOde, stp exhibiting your ignorance on here. 3.3billion is a lot of money and it's not the duty of govt to own or repair refineries, if Jonathan did not remove subsidy do you think the banks will be ready to give loans. The only source of info you have is from lib so I don't blame you.
DeleteImagine what an individual has in mind for the betterment of his country while d president is busy giving his bloated wife head everyday...pls the likes of Dangote, Alakija, Adenuga and co shud come and take a political seat biko nu nu. Its obvious they have better plans for our country...me am tired of suffering oh! Linda post my comment or else u will be raped by spider in ur bathroom!!!!
ReplyDeleteMofe lowo bii Dangote *in olamide's voice*
ReplyDeletehe knows wats up. job creator. baba dangote. kwenu. by vivian/jacque
ReplyDeleteCongrats to him, I wish Nigeria had more him. But you do realize this monopoly of some sort?
ReplyDeleteGood thinking. Will it reduce the price of fuel?
ReplyDeleteGreat Mind,Great thinker...see the need,provide it...N make it(Money)
ReplyDeleteBcs he's reliable plus HUGE collateral
ReplyDelete~D great anonymous!
I luv dis man oo,and na dis kin sugar daddy I dey find
ReplyDeletei just love dis guy..smart business man....i will b greater than u someday..amen
ReplyDeleteI hope this doesn't take up to 40 yrs tu build.....but very impressed....
ReplyDeleteGod don bless ds man....God abeg bless me as well!!
ReplyDeleteNice one...GGMMB
ReplyDeleteAsin erhnn i luv dis man pieces see brain business nd everything
ReplyDeleteso be it...1st to comment
ReplyDeleteAnd where is the factory situated?
ReplyDeletegengen yeyenatu banks, if its a small business owner now they will boneface and ask you to go bring ur dead great grandfather's skeleton from d grave as collateral
ReplyDeleteI trust FCMB, they wl not be part of this, baba ijebu no dey take hin money play
lucky man, i'm sure he was not even asked for collateral, his name alone is enough collateral
HYBunny
Pls read before u comment, don't comment on hearsay. FCMB is part of it.
DeleteI still do not understand why the Aliko Dangote has to be the person to build the country's first petroleum refinery... its really sad! *sigh*
ReplyDeleteDangote for presidency 2015. Any objection??
ReplyDeleteLol,none whatsoever...I'll vote o
DeleteIf he try am he will become a pauper tomorrow and he knows it. Ask d Abiolas. Politics is superior to economics.No be gvt patronage dey help am? D guy is not smarter dan everyone but he seems to be luckier. He's smart though by being a supporter of every govt in power in order to protect his biz interests. Even if Osuofia becomes d President of Nigeria tomorrow, he go lick his ass. Lol
DeleteIs a very good initiative coming from this present administration. If is sole government affair, the project will go down the drain or even mismanagement will fold the refinery as it has with our present ones
ReplyDeleteGood one! It creats job opportunity
ReplyDeletenice one Mr Aliko Dangote, a visionary Businessman!!
ReplyDeleteGood one! It creates Job opportunity
ReplyDeleteNice one Mr Aliko Dangote, A visionary Businessman!!!
ReplyDeletenice one Mr Aliko Dangote, a visionary Businessman!!
ReplyDeletePlease go on nd develop agricultural sector nd ignore the health nd educational sector. We will all become farmers nd turn the cities back to rural areas. For the health sectors, those that re sick or need surgeries will start eating leaves on their farms, who knows that may make dem last a few more hours or days. All I see is Ghadarfi-Like empowerment.its Like Dangote will be owning Nigeria. God help us
ReplyDeleteGod bless this man, and may this project come 2 reality. A refinery? My dream workplace?! It must happen in Jesus Name, Amen!!!
ReplyDeleteMore good works to make the country better
ReplyDeleteAdd up Qidas XIII for your online music distributions and promos pin:25faf7bb
Goodluck!*cagey*
ReplyDeleteWow! Dats nice.
ReplyDeleteWatch Dangote become the richest man in the world.....soonest
ReplyDeleteThis is good. Congrats to Alhaji but the banks should not forget small and medium enterprises. The sme agric sector are forgotten by the banks, you only read on pages of newspaper that the banks are suporting agric but when you get there it is story. I am a victim and it is sad
ReplyDeleteI Just Dey Laugh O!!!!......... Una dey clap now, later una go understand say this na high level gimmick!!....... Naija, shine your eye and copy the Norwegian Model Instead!!! 2nd base Jare'
ReplyDeleteGOD bless dangote!Pls some1 should help me wit dis quest,if dangote build oil refinery who ll owns d oil refinery? Cos I don't want situation whereby hausa ll claim nig oil.can't federal gov get loan 4 it? let tink about future.dangote is a godly man but 90% of hausa's ar ready to take over every position & sit in nig.if dey av d chance dey ll turn d hole nig to 1 religion.
ReplyDeleteThis why many Nigerians will never understand how money works. Dangote worth 16b$ but that does not mean he has that money cash. mostly it is tired up in other investments all over the world. Bill Gates worth 70b$ but some times his company Microsoft borrows money for investments and purchases as well.
ReplyDeleteForgive Me If Am Not Enthusiastic Abt Dis Vry Development. Is Jst Dat It Has Got Monoploy Written All Over It & Dat's Da Last Thing We Need As A Nation Dat's Still On Da Verge Of Development...
ReplyDeleteThe loan Dangote took from Oceanic bank and intercontinental bank was one of the reasons those banks went under. hope these banks giving him loan now won't go under later.
ReplyDeletethats very good of him atleast it will reduce unemployment in the country. @ mr www.1on1network.com
ReplyDeleteup dangote. still mr 1on1network.com
ReplyDeleteI think the loan is just formality and the banks jostled to give him the loan, his net worth alone can build the refinery.
ReplyDeleteI have nothing against this. Creating 34,500 jobs and being the only source of refining the oil in nigeria if possible Africa. Lol what a rat race. Creating employment and becoming richer than gates and co. Well at all at all na im bad pass. Kudos and more money to your pocket. Alhaji
ReplyDeleteAnd dangote becomes the richest man in the world Nigerians pls shine your eyes its not about the employment of 9500 the future of nigerians are in the hands of just 5% of Nigerians you just have to accept what they say and they keep getting richer at yourown expense lets stand up d govt has the money why cant they do it and to these stupid banks soo many ideas out there u wont borrow them money lets see how dis investment goes mayb dey wud be survive d shock that would come with it
ReplyDeleteWow lemme comment as 51st pesin dis is nice and splendid!!!
ReplyDeleteMehn, this shouldn't be in any one man's hand. Dangote thrives in monopoly, and monopoly is nt a healthy economic principle for a nation.
ReplyDelete9ice one again from Dangote, atleast if our goverment is blind, always an opportunity for someone with sense to make money!
ReplyDeleteBig kudos to you oga dagote for ur great change in africal ,may almight allah be u.(amen) more emploment! up dagote!
ReplyDeleteTheses rich guys survive on loans,are they really rich? not as rich as people believe.His cement company loan,every thing loan.Why can' d government fix the refinery,lots of power for an individual,I hope he does't buy up Nigeria in future.
ReplyDeleteI am glad at this news. Aliko is an inspiration to millions of African youth. Going by his track record this will be another success story. It is instructive to note that Aliko will spend $3.3bn to fix the problem of not just petrol importation but also fertilizer importation in Nigeria, meanwhile the NNPC and Petroleum ministry spends almost the same amount regularly on turn around maintenance of our refineries with nothing to show for it. Some of this people should be made to face the wrath of the law, including the The President/Presidency because they are also culpable in all of this corruption.
ReplyDeleteThis are the kind of men I love meeting,pls someone should connect me with mega bros Dangote.
ReplyDeleteMake we all shine our eyes o, 9ja make una watch una back sumthing go soon happen!!
ReplyDeleteI sincerely like d idea, at least it wil provide job opportunities nd reduces unemployment. His worth $20b den y borrowing $3.3b from banks, I HOPE my money is nt involve, I no fit shout.
ReplyDeleteHmmm, now we see why d Government owned refineries must never work. And why we had to partially remove subsidy, economically for this to work though, the whole subsidy must be removed. #Occupy Nigeria 2.stay tuned
ReplyDeleteShout out to Dangote, God make u Bigger!
ReplyDeleteI said Shout out to Dangote, God make u Bigger!!
ReplyDeleteChief u too much
ReplyDeleteNigerians applauding monopoly, the same thing that got us into this mess. A group of people, Military or Civilian running and controlling 90 percent of Nigeria's resources.
ReplyDeleteWe perish for lack of knowledge...
Thank God!!! More importantly, PLEASE DO NOT BUILD YOUR REFINERY NEAR our oil city. We are so sick from it!!!!! Put one near the corridors of power so that they can have their share of asthma and leukemia.
ReplyDeleteWelcome development , at least this will cut down the rate of unemployment and encourage more rich nigerian to invest in the country.
ReplyDeleteChai! See how petroleum is going to be controlled by the northerners and the southerners are foolishly shouting resource control, d original bad guy is wisely plotting its control. Firstly they will kill the southern banks with this debt just as they did to oceanic and intercontinental then d islamic banks will thrive and by the time u know it oil is a northern property and automatically the economy of this country rests with the North. Nigerians wake, open ur eyes ppl,see what I see
ReplyDeleteDangote for President!!
ReplyDeleteYou must be an idiot to turn this into tribe it's people like you that are destroying Nigeria twisted idiot
ReplyDeleteIf it is not govt's duty to own and operate refineries, why are there four such in Nigeria? Why are the 13 largest oil companies in the world state owned, producing 75% of global output?
ReplyDeleteI pity Nigeria.....the FG has battled with refineries for years....they make the process seem impossible by continuous sarbotage , then they come back to buy the scrap or start their own.....Nitel, Nigeria airways etc....how does an individual get such approval? Not hating on the man but its just strange...I feel sorry for guys giving the man props on this forum, the bitter truth is most of you all will never get to his level because people like him have bought your futures indirectly...
ReplyDeleteCut down unemployment my $&@" . The largest contributors to Nigeria's GDP have employed the least. 25000 jobs out of 5million.
ReplyDeleteRubbish!! No rules no laws....how did this happen?
ReplyDeleteLet an unknown Nigerian come tomorrow with 3.3bn dollars for the same purpose, I can bet my life that he won't smell the approval...you all be commending people ruining our future..
ReplyDelete...the horns cannot be too heavy for the cow that must bear it.
ReplyDeleteMr Alike never give up.up
Remain blessed as u continue to think 4 the love of others.
Anon 12.29pm u are 1 of the biggest fools to ever exist, why insult some1 for his or her opinion. Now take ur insult back. Goat! In short u r an imbecile!
ReplyDeleteThumbs up to Mr Dangote, his proving that his not just rich on paper &in signature but very rich in the mind too...
ReplyDeleteHowever, lets give it a year or so to see if it would be realized, the true reasons and culprits behind this gesture, how it would begin to affect living standards and oil prices, and while it had to be an individual and not the government taking up this project.....lets just wait and see!#Godhelpus#
On a lighter note: if he really wanted to be philanthropic and bold, why did he have to borrow the funds? or isnt he the richest African man anymore? #justasking#
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