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- Created inside the 1958 so you can a rich class of people in the city of Kano, Dangote always had ambition.
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Dangote says you to liquidity isn’t a problem, which the brand new refinery are good enough dollarized (which means his overseas people pay inside You.S. dollars) to withstand the newest Naira’s devaluation. The costs accumulated—to some extent as the Dangote remaining insisting to the putting some refinery big than simply originally prepared. An intercompany financing to possess ten billion out of their holding organization – and that owns his concrete, flour and you will sugar enterprises – aided fund the brand new refinery’s numerous years of prices overruns.
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