According to Dangote, other reasons for the absence of new refineries in Africa include a lack of loan facilities for investors, attributed to weak financial institutions among others. “There are other countries in Africa who have been trying to build refineries but have been unable to. There has not been a new refinery in Africa in the last 35 years.
'There are so many issues regarding this such as money, political will, and also people who are benefitting from this whole system of importing petroleum products into Africa are discouraging their governments from building a refinery. “Also, they won’t get loans anyway because they don’t have very strong banks. The international banks will not support anything like this,” Dangote said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Aliko Dangote urges strategic investments to boost Africa’s industrial growthAt the Africa CEO Forum in Kigali, Aliko Dangote urged for strategic investments in Africa to boost indigenous industries and reduce dependency on raw material exports, highlighting the success of the Dangote Refinery.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
Aliko Dangote Foundation to faith leaders: Tackle malnutrition, hunger nationwideAliko Dangote Foundation, ADF, has underscored the pivotal role of religious and traditional institutions in tackling the pressing issues of malnutrition and hunger within Nigeria.
Source: vanguardngrnews - 🏆 5. / 75 Read more »
Dangote urges more investments to propel Africa’s economic growthPresident, Dangote Industries Limited (DIL), Aliko Dangote, has called for increased investments in the African continent to foster its rapid growth and development.
Source: vanguardngrnews - 🏆 5. / 75 Read more »
Dangote reveals date for Refinery to commence fuel supply in NigeriaAliko Dangote, the Chairman of the Dangote Group, has said that all things being equal, Nigeria will not need to import Premium Motor Spirit, known as fuel, in June 2024.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
CSO tasks African leaders on Pan-African consciousnessA Civil Society Think Tank, 'The Pan African Dialogue Institute (TPADI) has called on African leaders to embrace Pan-African consciousness in their dealings to foster patriotism and stem the tide of corruption ravaging the continent.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Celebrating African Creativity: Google partners African Union to launch #DiscoverMyAfricaThe Latest news in Nigeria and world news. The Guardian Nigeria Newspaper brings you the latest headlines, opinions, political news, business reports and international news.
Source: GuardianNigeria - 🏆 1. / 94 Read more »