LARGEST SINGLE POJECT IN THE WORLD SET TO IMPACT NIGERIA POSITIVELY

The federal government of Nigeria has insisted that the ongoing single project undertaken by the Nigerian billion is set to improve the standard of living and well being of the general populace when completed. The richest man in African and his group of companies has flagged off this project since 2014 but has not been able to put his grip on the execution of the project until now.

Dangote Industries used its balance sheet to borrow the money and there is an interest element that will have to be paying because we took the money since 2014. So the interest since 2014 to date is an alarming $173 million.

This is coming as Vice-President Yemi Osinbajo has described the refinery, fertilizer, petrochemical and gas pipeline project being executed by Dangote Group at a cost of $17 billion, as the largest single project in the world.

Speaking on Saturday during an inspection tour of the ongoing project by Osinbajo in the Lagos Free Trade Zone at the Ibeju-Lekki area of Lagos, Dangote said the company sourced the $100 million used in acquiring the land from the Lagos State Government and raised another $300 million capital to start the project without any assistance.

Speaking on Saturday during an inspection tour of the ongoing project by Osinbajo in the Lagos Free Trade Zone at the Ibeju-Lekki area of Lagos, Dangote said the company sourced the $100 million used in acquiring the land from the Lagos State Government and raised another $300 million capital to start the project without any assistance.

The chairman of the group further stress his need for the continuous growth and establishment of his company to further serve Nigeria. He disclosed that he is strictly for the growth and development of Nigeria and never take part in putting his money where it will not be impactful to the Nigerian populace.

while describing himself he insisted he is a proud Nigerian with no house or even a single block outside Nigeria. “Yes, I have money but I don’t have properties or even a house outside Nigeria. Wherever I go, I stay in an hotel. This means that every amount of money we make here, we throw it back into the country. That is why we are doing all these,” Dangote said.