Dangote sees Petroleum, natural resources as a platform to deepen intra-African Trade
by HARRISON EDEH, Abuja
February 23, 2018 | 12:59 am| | | Start Conversation
Worried by low profile of intra-African Trade, the Chairman of Dangote Group,Aliko Dangote said African countries could leverage on growing demands on consumption of Petroleum Resources to deepen intra-African Trade.
He also said a vast natural resource the continent is blessed with is also a platform to deepen intra-Africa trade in the continent, as well as growing the economy.
According to statistics, intra-African Trade is currently put at $1.3 billion, which some analysts say is still abysmally low given the level of global companies, situated and doing different kind of business operations in the continent.
Represented by Babajide Soyebi, the Technical Consultant of Dangote Group, at the on-going Nigeria International Petroleum Summit, on Wednesday in Abuja, he said, “Nigeria must improve its refining assets, due largely to its strategic location in Africa and must position rightly for exports of Petroleum products”
”Our refining technology must take into consideration clean and renewable energy as well as grow with global technology. Indeed, Africa must be prepared for the next industrial revolutions, he pointed out.
He also remarked that transforming the strategic gulf of Guinea into a Global hub for Petroleum Trade is very important and Nigeria must play that leading role in that regard.”
Speaking on how Africa could explore trade advantages, he said “Africa must develop the continent using its vast natural resources and huge potentials. It must begin to consume what it produces and improve its intra-African trade.
“Africa must build electricity capacity to empower growth and development; connect with modern transportation system to facilitate continental movement of goods. We must improve refining margins through technological integration and add more value through Petro-chmical industries month others. “He adds further.
Dangote is currently building a 650 000 barrels per day capacity refinery in Lagos, which is expected to contribute immensely to 51.3 million litres per day growing consumption of Premium Motor Spirit.
HARRISON EDEH, Abuja
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