Dangote Declares Rest After Delivering $20 Billion Refinery In Lagos

Billionaire businessman and President of Dangote Industries Limited, Alhaji Aliko Dangote, has announced that he is currently taking a break following the successful completion of his refinery project.

The refinery, which has a capacity of 650,000 barrels and is part of a petrochemicals initiative valued at over $20 billion, is set to transform the oil and gas sector both in Africa and globally. It is already exporting refined products to various countries across Africa and the Middle East.

In a recent discussion, Dangote reflected on the significant challenges he encountered during the construction of the refinery, which he characterized as the greatest risk he has ever undertaken, describing the experience as extremely difficult.

During the groundbreaking ceremony for the new 43-storey First Bank Head Office at Eko Atlantic City in Lagos, he expressed his satisfaction with the completion of the refinery project. He also praised his friend and associate, Mr. Femi Otedola, Chairman of FirstHoldCo, for his bold decision to erect a 43-storey building as the new headquarters for FirstBank, Nigeria’s oldest bank.

Dangote noted that Eko Atlantic is emerging as a new hub for Lagos, and with FirstBank establishing its presence there, he anticipates that more financial institutions will follow suit.

Dangote, however, stated that Otedola had also invited him to come to Eko Atlantic, adding, “Maybe soon, not now I’m resting right now. Having delivered the refinery, I need some rest, but I’ll come; I’ll be here very soon. So I want to congratulate you (Otedola) and the entire board and management of First Bank for taking this bold move of building a massive edifice in the new City of Lagos.”

The groundbreaking ceremony is graced by the presence of Vice-President Kashim Shettima, along with the Governors of Lagos, Ogun, and Ondo—Babajide Sanwo-Olu, Dapo Abiodun, and Lucky Aiyedatiwa, respectively.

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In addition, notable attendees include the Deputy Governor of Lagos State, Dr. Femi Hamza; former Senate President, Dr. Bukola Saraki; and former Governor of Delta State, James Ibori, among others.

Prominent billionaires and CEOs present at the event include Dr. Deji Adeleke, CEO of Pacific Holdings; Senator Daisy Danjuma, CEO of Sapetro; Ambassador Gilbert Chagoury; and Alhaji Mustapha Indimi, among others.