Dangote Explores Caribbean Partnerships in Cement and Petroleum
By Patience Ikpeme
Aliko Dangote has hinted at potential partnerships with the Caribbean community in cement, fertiliser, and petroleum products.
He made the remarks during a tour of the Dangote Petroleum Refinery and Petrochemicals complex in Lagos by Grenada’s Prime Minister, Dickon Mitchell.
Dangote noted that many Caribbean nations, now discovering crude oil, aim to reduce the cost of importing refined products by building local refineries. “Their dream is to set up refineries to cater to their people, perhaps not of this size, but to reduce dependence on expensive imports,” he said.
He revealed that discussions are ongoing about importing crude from Caribbean countries while supplying them with refined products. “We are looking at partnerships in cement, petroleum, and fertiliser,” Dangote added.
Prime Minister Mitchell praised the refinery, calling it a landmark investment that could inspire industrial growth in Africa and the Caribbean. He emphasized the importance of reversing the trend of exporting raw materials while importing finished products, stressing the need for partnerships and industrialisation to grow the wealth of developing nations.
The $20 billion Dangote refinery, the largest private investment in Africa, has the capacity to process 650,000 barrels per day (bpd), meeting Nigeria’s domestic fuel demand and providing surplus for export. Mitchell commended the refinery’s automation and the involvement of young Nigerian professionals, expressing optimism about Nigeria’s future.
The Caribbean Community (CARICOM), chaired by Mitchell, will explore synergies with Dangote Group to strengthen the region’s economy through these potential partnerships.
