Africa/Development

Africa's richest man plans to build refinery in Nigeria

Founder and Chief Executive of the Dangote Group Aliko Dangote gestures during an interview with Reuters in his office in Lagos, June 13, 2012.
 

* Aliko Dangote would invest up to $8 billion in refinery

* Would almost double Nigeria's refining capacity
* Nigeria relies on imports for 80 pct of fuel needs (Adds Dangote comments, details of planned refinery, background)
By Tim Cocks
LAGOS, April 16 (Reuters) - Africa's richest man, Aliko Dangote, plans to invest up to $8 billion to build a Nigerian oil refinery with a capacity of around 400,000 barrels a day by late 2016, the tycoon told Reuters on Tuesday, almost doubling Nigeria's refining capacity. Read more