Aliko Dangote, one of Africa’s richest men has pledged to employ about 30,000 youths by the year 2019. This he said is to help the youths and ensure there are jobs for them to be able to live on.
Mr Olakunle Alake, the Cheif operating officer of Dangote industries limited said that by the first quarter of 2019, it would have employed many Nigerians. The refinery which is located in Lagos will be a starting point for many unemployed youths.
The refinery will have a refining capacity of about 650,000 barrels of crude oil a day. The local refinery of petrol will help to stabilize the economy as it will bring down the price of fuel and make it available at all times.
Petrochemicals and fertilizer plants are also part of the project, while 98 percent of basic engineering on fertilizer plant has been carried out, 30 percent of construction has been achieved.
According to Alake, the gas pipeline is expected to generate about 12,000 mw,which will serve the country and also be exported to other neighbouring countries. The project is said to enable the nation to store about four billion litres of products and load about 2680 trucks a day.
He added that by 2019, Nigeria will be able to save five billion dollars on oil as the project will generate revenue for country. The project is said to also aim at aiding the country with about 7.5billion dollars forex savings on importation and also generate five billion dollars forex earning and also 5.5 billion dollars export earnings.
This will be a great achievement to the country as only three countries in Africa have effective and functional refineries. Also, this project will create jobs on Agriculture and it will give room for massive employment.
An appeal has been sent to the federal government asking for them to support these private initiatives by providing funds for the project.
However, the government through the bank of industry schemes has given credit facility of about N50billion to develop the fertiliser plant. Also, another N75billion has been approved for the refinery, which is yet to be accessed.
Dangote is the highest employer of labour and is also said to be Africa’s richest man.
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