Dangote Petrochemical Complex Lekki: Another Feather to His Investments

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Dangote Petrochemical Complex

Before talking about Dangote Petrochemical Complex Lekki, who is Aliko Dangote?

Alhaji Aliko Dangote is reckoned by Forbes as Africa’s richest man. Of course he is. With investment in cement, salt, sugar, spaghetti and then Oil and Gas.

Dangote petrochemicals is believed to be the apex of the business mogul’s investment.

Here are few highlighted points about Aliko Dangote as captured in Forbes:

• Aliko Dangote, Africa’s richest person, founded and chairs Dangote Cement, the continent’s largest cement producer.

• He owns 85% of publicly-traded Dangote Cement through a holding company.

• Dangote Cement produces 45.6 million metric tons annually and has operations in 10 countries across Africa.

• Dangote also owns stakes in publicly-traded salt and sugar manufacturing companies.

• Dangote Refinery has been under construction since 2016 and is expected to be one of the world’s largest oil refineries once complete.

Who are The Forbes?

According to Wikipidia “Forbes is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. Forbes also reports on related subjects such as technology, communications, science, politics, and law.”

“The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), of the America’s Wealthiest Celebrities, of the world’s top companies (the Forbes Global 2000), Forbes list of The World’s Most Powerful People, and The World’s Billionaires.”

This is where Aliko Dangote’s profile is captured.

Now let’s take a look at Dangote’s investment in Petrochemicals.

According to the company’s website

“The Dangote Petrochemical Complex consists of Dangote Oil Refinery and Petrochemical Plant. The Dangote Petroleum Refinery is located in the South-East of the Lekki Free Trade Zone (FTZ) in Ibeju-Lekki, Lagos, covering a land area of approximately 2,635 hectares (six times the size of Victoria Island).

The following projects are within the Lekki FTZ: Largest Single Train Petroleum Refinery in the World – 650,000 barrels-per-day (more than enough to meet Nigeria’s petrol needs and for export) Two of the World’s Largest Fertilizer Trains – 3 Million Tonnes per Annum”

Can you now see why I ranked this investment as the peak of Dangote’s investments, though he may spring a surprise in the area of technology which is believed to be one of Nigeria’s topmost imported goods?

We also published on this site about Nigerian Gas Master Plan

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