Aliko Dangote, Chairman and CEO of Dangote Refinery, meets with Grenada’s Prime Minister Dickson Mitchell to explore a potential trade agreement aimed at strengthening relations with Grenada and the Caribbean. The meeting occurs at the $20 billion petrochemical plant in Lagos, where Mitchell tours the refinery and fertilizer facilities.
He emphasizes that Mitchell serves not only as Grenada’s Prime Minister but also as Chairman of the Caribbean States. Their discussions center on a deal that could involve importing crude oil from the Caribbean and exporting refined petroleum products to the region. “We are considering buying crude from them and selling our petroleum products. We have a broad export network,” Dangote shares with reporters.
Prime Minister Mitchell praises the refinery as a major achievement for Nigeria and Africa, highlighting the advanced technology and skills of the young engineers at the facility. “This is an impressive accomplishment and a testament to Mr. Dangote’s vision for his country and for Africa,” he remarks.
Key Information
Dangote invested $20 billion in the refinery, which can process 650,000 barrels of oil daily. It has become the largest refinery in Africa and Europe, significantly reducing Nigeria’s dependence on imported petroleum products. Despite being Africa’s most populous nation and a leading oil producer, Nigeria relies heavily on fuel imports due to inadequate refining capacity—a gap that the refinery aims to address.
