Dangote still on track to investing $16 billion in Nigeria and Africa in the next 4 years

“The only new investment we are looking at is upstream – to look for gas to secure our future businesses,” Dangote said. “We want to step in and make gas available, and this will translate into more stable power in the country.”

Dangote Industries finalized a US$3.3 billion financing deal with 12 local and international banks to help fund construction of a US$9 billion petroleum oil refinery and petrochemical and fertilizer complex in Nigeria, Standard Chartered Plc, the global coordinator of the deal, said September 4.

Dangote Cement shares have gained 56 percent this year, valuing the company at 3.4 trillion naira (US$21.5 billion). Dangote Sugar shares are up 93 percent in 2013.

Source: Bloomberg

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