Nigeria to become Africa’s petrochemical hub with $2bn plant – Dangote
President of Dangote Group, Aliko Dangote says the company is set to be one of Africa’s largest petrochemical hubs when its $2bn becomes fully operational.
Dangote disclosed this in a statement signed by Media and Communication Personnel, Dangote Industries Limited, Francis Awowole-Browne, on Sunday.
He said the 900,000-metric-tons-per-annum capacity plant, built alongside the 650,000 barrels per day Dangote Petroleum Refinery, would boost Nigeria’s non-oil export earnings and ensure petroleum products’ sufficiency.
According to him, the plant would produce polypropylene strategically, to cater to the demands of the growing plastic processing downstream industries, not only in Africa but in other parts of the world.
He said the plant was expected to export much more than eight million tons of petroleum products annually after meeting domestic consumption, while about 900,000 tons of polypropylene is also expected from the petrochemical plant.
“There is a need to prioritise financing gas infrastructure, gas allocation to the domestic market, and adjustment of fiscal framework to make the supply of gas to domestic market attractive for oil companies,” he said.
