L-R: Femi Otedola, chairman of First HoldCo, Aliko Dangote, founder of Dangote Group, and Devakumar Edwin, Dangote Group's vice-president
Femi Otedola, the chairman of Geregu Power and First HoldCo, has commended Aliko Dangote, the founder of Dangote Group, for his investments in Nigeria.
Dangote has investments in the oil and gas sector, cement industry and sugar business.
In a statement via X on Sunday, Otedola said Dangote, who he described as a brother and Africa’s pride, is making legacy investments that will define generations.
“Aliko’s relentless commitment to investing in Nigeria and Africa will outlive him as these are legacy investments that will define generations,” he said.
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“Soon, Nigerians will own part of this refinery, a powerful reminder that this vision is not just for Dangote, but for all Nigerians and Africans.”
Otedola also commented on Dangote Petroleum Refinery’s plan to expand production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd.
“This makes it the largest refinery ever built in the world,” he said.
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“The announcement also included increased polypropylene output from 900,000 to 2.4 million metric tonnes annually and new capacities in linear alkylbenzene and base oils.”
The billionaire also appreciated President Bola Tinubu for his continued encouragement “as the private sector drives forward the Renewed Hope mandate to build a stronger, self-reliant Nigeria”.
Earlier, Dangote said the 1.4 million barrels per day capacity will be achieved within three years.
Dangote said the expansion plan reflects the refinery’s belief in Africa, confidence in Nigeria, in the leadership of Tinubu, in Africa, and “in our capacity to shape our own energy future”.
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