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Dangote, Grenada’s PM discuss potential Caribbean trade deal

Aliko Dangote, the Chairman and CEO of the Dangote Refinery, recently held discussions with Grenada’s Prime Minister, Dickson Mitchell, to explore a potential trade agreement aimed at bolstering trade ties between Nigeria and Grenada, as well as the wider Caribbean region.

Their meeting took place on Thursday at the Dangote Refinery’s $20 billion petrochemical plant in Lagos, where the Prime Minister undertook a tour of the refinery, fertilizer plant, and other facilities, as reported by Nairametrics.

Dangote highlighted Mitchell’s dual role as both the Prime Minister of Grenada and Chairman of the Caribbean States, underscoring the importance of this collaboration for regional trade.

He emphasized that their talks revolved around establishing a deal that would facilitate the import of crude oil from the Caribbean and enable the sale of petroleum products to the region.

This arrangement aims to enhance mutual benefits and strengthen economic ties between Nigeria and Caribbean nations.

Dangote informed the press that "The prime minister is not only the prime minister of Grenada. He is also the chairman of the Caribbean States. We are looking at also cement. We are looking at maybe to buy some crude from them. Also, we are looking to sell some of our petroleum products to them. You know, we export everywhere."

In his remarks, Prime Minister Dickson Mitchell lauded the Dangote Refinery project, describing it as a significant accomplishment not only for Nigeria but for Africa as a whole.

He praised the refinery’s advanced technology, automation, and the skills of its workforce, particularly noting the impressive sight of young engineers working in the laboratory at the 650,000-barrel-per-day facility.

“This is an amazing achievement and accomplishment. This is a tribute to what a great vision Mr. Dangote has, not just for his country, but also for Africa. It’s been a wonderful experience. The skill, depth, sophistication and automation. It’s also amazing seeing many young Nigerians particularly in the lab,” he added.

With a processing capacity of 650,000 barrels of oil per day, the Dangote Refinery is poised to become the largest refinery in both Africa and Europe once fully operational, expected to achieve this milestone within the year or next.

The project aims to significantly reduce Nigeria’s reliance on imported petroleum products, promoting greater self-sufficiency in the country’s energy sector.

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