<\/p>\n
Nigerian business tycoon, Aliko Dangote, has criticised African governments for failing to push for the establishment of an oil refinery for the continent over the past decades.<\/p>\n
According to the industrialist and chairman of the Dangote Refinery, the lack of political will and interests is a bane in Africa\u2019s quest to establish its oil refinery.<\/p>\n
He argued that some of these selfish interests stem from beneficiaries of fuel imports into the continent, which has blocked the ability to refine oil products.<\/p>\n
Speaking in an interview with CNN\u2019s Eleni Giokos, Dangote said, \u201cThere are so many issues. I can\u2019t count them, but there are so many. It\u2019s not only money, political will, and also people who are benefiting from this whole stuff of importing petroleum products into Africa are actually discouraging those governments from building a refinery.\u201d<\/p>\n
Africa\u2019s richest man further highlighted the difficulty in obtaining substantial funding from local and foreign banks for initiatives like building a refinery.<\/p>\n
\u201c\u2026And they won\u2019t get the loans anyway because they don\u2019t have very strong banks. The international banks will not support anything like this. We\u2019re talking about industrializing the continent, creating a more connected Africa,\u201d he stressed.<\/p>\n
Dangote continued, \u201cBut we have to make sure we focus and say, look, we are the only ones that can deliver. We Africans are the only people that can develop Africa. If we\u2019re waiting for foreigners or foreign investors to come and develop Africa, it will never happen.\u201d<\/p>\n
Aliko Dangote, who recently commenced production at his $19 billion Dangote Refinery, mentioned some of the challenges he was currently facing to ensure the business stands.<\/p>\n
\u201cIf I knew what I was going to go through, I wouldn\u2019t have tried,\u201d he admitted.<\/p>\n
He mentioned that with the knowledge he has now, he would be more tactical to ensure the business\u2019 success.<\/p>\n
On the other hand, Dangote also shared that many individuals including friends and associates doubted his ability to undertake such a project.<\/p>\n
\u201cI feel very proud as an African doing this. Nobody ever expected us to pull this through. A lot of people had given up. But we\u2019ve been able to deliver,\u201d he expressed.<\/p>\n
Dangote, however, said he remains optimistic that his investment in the refinery will yield positive results in the future, particularly in petrochemicals and upstream sectors.<\/p>\n
\u201cWe Africans are the only people that can develop Africa,\u201d Dangote noted.<\/p>\n
\n\u201cIf I knew what I was going to go through I wouldn\u2019t have done it\u201d Africa\u2019s richest man Aliko Dangote tells me how building a refinery in\u00a0#Lagos<\/a>\u00a0was a Herculean task! He did it, it\u2019s up and running and transforming\u00a0#Nigeria<\/a>.<\/p>\n
Full interview this weekend on\u00a0#CNN<\/a>\u2026\u00a0pic.twitter.com\/OxUwdmVXeE<\/a>\u2014 Eleni Giokos \u0395\u03bb\u03ad\u03bd\u03b7 \u0393\u03b9\u03ce\u03ba\u03bf\u03c5 (@EleniGiokos)\u00a0May 31, 2024<\/a><\/p>\n<\/blockquote>\n
NOQ\/EK<\/p>\n
Source:\u00a0<\/strong>www.ghanaweb.com<\/p>\n
<\/p><\/div>\n