Dangote Visits Jonathan After Signing Refinery Loan Deal - Politics

President Goodluck Jonathan
pledged Wednesday in Abuja that his
administration will keep on
implementing policies and measures
that will continuously improve the
operating environment for
entrepreneurs and investors in the
Nigerian economy.
Speaking at an audience with the
President of the Dangote Group and
leading Nigerian investors and
bankers, President Jonathan said that
his administration was fully
committed to progressively removing
all major impediments to greater
investment in Nigeria such as
inadequate infrastructure and
unsteady power supply.
The President applauded plans by
the Dangote Group to build Africa’s
largest refinery, petro-chemicals and
fertilizer manufacturing complex in
Nigeria and thanked the consortium
of banks who are providing a $3.3
billion credit facility for the project.
President Jonathan also expressed
the Federal Government’s
appreciation of the great support
being given by Nigeria’s private
sector to the implementation of his
administration’s agenda for national
transformation.
Noting that the Dangote Group’s
massive investment in refining,
petrochemicals and fertilizer
production will contribute
significantly to the attainment of
government’s priority objective of job
creation, the President thanked him
and the Chief Executives of the
Nigerian banks that are helping to
finance the project for being
patriotic and having the confidence
to invest in their own country.
“We are pleased that you are now
investing in refining, petro-chemicals
and fertilizer production. It is the
downstream sector of oil and gas
that can really create many jobs.
Your interest and investment in that
area will help in the area of job
creation which we have been
emphasizing. You are also helping us
to move away from being a mere
producer of raw materials by adding
value to our natural resources,” he
told Alhaji Dangote and members of
his delegation.
Alhaji Dangote who led the team
from his company, the
Manufacturers Association of Nigeria
and Nigeria’s leading banks had
earlier told the President that they
were at the Presidential Villa to thank
him for his administration’s policies
which have greatly encouraged
further investments in Nigeria.
“Your policies have helped us greatly.
Without them, we will not be where
we are today,” the President of the
Dangote Group told President
Jonathan.
He said that the refining, petro-
chemicals and fertilizer complex
planned by his Group will make
Nigeria a net exporter of petroleum
products including diesel and
aviation fuel, as well as poly-
propylene and fertilizer.
Alhaji Dangote who came on the visit
to the President after the signing of
the loan agreements for the complex
was accompanied by Chief Executives
of participating banks including First
Bank of Nigeria, UBA, Stanbic-IBTC,
Zenith Bank, Access Bank, Ecobank,
Fidelity Bank, Guaranty Trust Bank
and Rand Merchant Bank.
Alhaji Dangote hailed the signing of
the financial support agreement as a
milestone in the industrialization of
Nigeria. “It shows that there’s great
confidence in the Nigerian economy
and quite a lot of appetite for
investment in our country,” he said.
Others on his delegation included
Chief Kola Jamodu, Mr. Femi Otedola,
Mr. Jim Ovia and management
executives of the Dangote Group.