When it comes to huge investments, only this can makes things happen. He has shown to have magic fingers when it comes to investing.No fewer than 12 local and international banks have loaned Africa's richest man and foremost industrialist Aliko Dangote $3.3 billion to build Nigeria’s biggest petroleum refinery and petrochemical/fertilizer plants.
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.
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.
Source:Lindaikeji
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