A Review of the Nigerian Energy Industry

‘Nigeria can be fertiliser, petroleum products exporter by 2016’

Fuel pump17 September 2013, Lagos – Dangote Group has said Nigeria would become a net exporter of fertiliser and petroleum products in 2016, when the company’s recently signed loan agreement valued at $3.3 billion for the construction of a petroleum refinery, petrochemical and fertiliser plant in the country comes on stream.

The President, Dangote Group, Alhaji Aliko Dangote, explained that the refinery, when completed, would have the capacity to produce about 400,000 barrels per day and reduce Nigeria’s dependency on other countries for petroleum products.

Dangote, during its distributors’ award ceremony, added that the project would not only make the nation a net exporter of fertilisers and petroleum products, but also create direct and indirect jobs for thousands of Nigerians when completed in 2016.

He pointed out that the loan was made possible by a consortium of 12 banks both local and international to make the project a success, would go a long way to contribute to the development of the Nigerian economy and the sub-region at large.

“As an organisation, we have also recently embarked on a transformational change journey in line with our growth aspirations, one of which is to rank among the Fortune 100 companies in the world by 2017,” he said.

He said the organisation has also continued to garner global recognitions through its expansion into 14 other African countries and stressed that Dangote cement is currently the biggest listed company in Nigeria rated among the top 10 companies in Africa in terms of market capitalisation.

“These accomplishments are clear demonstrations of our resolve to be the number one in Africa and ultimately register our leadership on the global arena. The future is indeed bright for all our stakeholders,” he said.

Rewarding its loyal distributors with over N850 million, he credited the distributors for Dangote’s success story and said the ceremony was to specially appreciate distributors’ unrelenting efforts at ensuring that it remains the undisputed leader in the cement market in Nigeria despite the increasingly intense competition in the industry.

“We are here to explore ways of further cementing our existing cordial relationship in order to create more value for all stakeholders. In fact, our ultimate desire is to create a win-win situation for our stakeholders at all levels down the value chain,” he stressed.

In his words, “This is in line with the triple bottom line principle: people, planet and profits, which we have embraced here at the Dangote Group. As a matter of fact, any organization that aspires to be ahead of the competition these days, must explore ways of not only knowing the expectations of its customers, but also how to exceed them.”

He stated that the company was aware of the difficulties faced in transporting cement from its plants to various locations in the country, saying that, as part of efforts aimed at ameliorating this challenge, Dangote purchased 5,000 trucks last year to reduce delivery time.

“We have taken another bold step to acquire additional 1700 trucks. This is to show on our part, we promise that we will give you all the support that you need. We are indeed grateful for your contributions to the success of this business. However, we enjoin you not to rest on your oars, as there is still room for improvement,” he said.

He noted that the company has also embarked on various strategies that would ensure quick delivery from its various plants and depots to the distributors through direct delivery by its trucks and fast tracking of the payment process.

“However, we are still open to suggestions from you on how best you think we can help you achieve your dreams. This is why we are here tonight to hear from you the things we are doing right and the areas we should work on to further strengthen our bond with you, our valued distributors,” he said.

– Crusoe Osagie, This Day

In this article

Join the Conversation