Aliko Dangote Expands Business Empire, Finalizes Refinery Deal with Angolan Government

 Buoyed by the global impact of his 650,000 barrels per day refinery and petrochemical plant, Africa’s richest man and President of Dangote Group, Aliko Dangote has held talks with Angolan President João Lourenço to wrap up a deal for the construction of a new refinery in the Southern African country, THISDAY has learnt.

Located at the Lekki Free Trade Zone in Lagos State, the Dangote Refinery and Petrochemical Plant, the world’s largest single-train refinery, has become a game changer in Africa since it started operations.

With the increasing reliance on the refinery by the Nigerian National Petroleum Company Limited (NNPCL) and oil traders from Nigeria and other West African countries, the facility is gradually bringing to an end decades-long fuel imports from Europe to Africa estimated at about $17 billion a year.

With the heightened competition from the Dangote refinery, European refineries that are already at risk of closure due to dwindling refining margins, are facing increasing pressure as a result of the loss of the West African markets.


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•Moves to invest in cement factories, oil blocks acquisition in Angola 

•Lourenço invites Dangote to invest in agriculture, others



Buoyed by the global impact of his 650,000 barrels per day refinery and petrochemical plant, Africa’s richest man and President of Dangote Group, Aliko Dangote has held talks with Angolan President João Lourenço to wrap up a deal for the construction of a new refinery in the Southern African country, THISDAY has learnt.

Located at the Lekki Free Trade Zone in Lagos State, the Dangote Refinery and Petrochemical Plant, the world’s largest single-train refinery, has become a game changer in Africa since it started operations.

With the increasing reliance on the refinery by the Nigerian National Petroleum Company Limited (NNPCL) and oil traders from Nigeria and other West African countries, the facility is gradually bringing to an end decades-long fuel imports from Europe to Africa estimated at about $17 billion a year.

With the heightened competition from the Dangote refinery, European refineries that are already at risk of closure due to dwindling refining margins, are facing increasing pressure as a result of the loss of the West African markets.

Apparently excited by the success of the Nigerian refinery, which has positioned Nigeria as a refining hub, THISDAY gathered that Dangote last week led a strong delegation of his company’s executives and business partners to meet with the Angolan President João Lourenço in the country’s capital, Luanda, to conclude a deal on his involvement in a new refinery project.

Dangote, it was learnt, visited the Angolan leader in Luanda last Tuesday to discuss investments.


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 cement factories, oil blocks acquisition in AngolaBuoyed by the global impact of his 650,000 barrels per day refinery and petrochemical plant, Africa’s richest man and President of Dangote Group, Aliko Dangote has held talks with Angolan President João Lourenço to wrap up a deal for the construction of a new refinery in the Southern African country.Located at the Lekki Free Trade Zone in Lagos State, the Dangote Refinery and Petrochemical Plant, the world’s largest single-train refinery, has become a game changer in Africa since it started operations. The increasing reliance on the refinery by the Nigerian National Petroleum Company Limited (NNPCL) and oil traders from Nigeria and other West African countries, the facility is gradually bringing to an end decades-long fuel imports from Europe to Africa estimated at about $17 billion a year.

With the heightened competition from the Dangote refinery, European refineries that are already at risk of closure due to dwindling refining margins, are facing increasing pressure as a result of the loss of the West African markets.Both parties were excited by the success of the Nigerian refinery, which has positioned Nigeria as a refining hub, newsmen gathered that Dangote last week led a strong delegation of his company’s executives and business partners to meet with the Angolan President João Lourenço in the country’s capital, Luanda, to conclude a deal on his involvement in a new refinery project.

Dangote, it was learnt, visited the Angolan leader in Luanda last Tuesday to discuss investments in cement factories, and refinery projects. 

President Lourenço and Dangote also held talks on the latter’s interest in the establishment of cement factories and acquisition of offshore and onshore oil blocks, the Angolan leader also urged him to invest in agriculture.

Angola had called on interested companies and individuals to invest in its 200,000 barrels per day Lobito Refinery after it launched the public tendering process last August.

During the visit, the billionaire businessman also opened a subsidiary of Dangote Industries in Angola to consolidate his investment drive in multiple sectors.

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