Africa’s richest man, Aliko Dangote, plans electric trucks for fuel distribution
Dangote said the next phase of the company’s plan is the adoption of electric trucks, beginning early next year.
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Dangote said the next phase of the company’s plan is the adoption of electric trucks, beginning early next year.
Dangote's refinery nears 700,000-barrel daily capacity with U.S. crude imports and RFCC unit upgrade at 85 percent efficiency.
Dangote's net worth jumped $414 million in a day as investors poured into cement and sugar stocks on the Nigerian Exchange.
Dangote Sugar expands into Ghana with a $162 million project to reduce imports, boost agro-industrial output, and support local supply under AfCFTA.
Aliko Dangote plans to build Nigeria’s largest seaport at the Olokola Free Trade Zone and resume work on a delayed 6-million-ton cement plant in Ogun.
Despite revenue gains, net profit fell 18.64% to N8.96 billion ($5.45 million) due to rising costs.
The move aligns with President Bola Tinubu’s push to make gas central to Nigeria’s low-carbon economy.
Nigeria's largest refinery aligns with new fuel policies amid ongoing imports.
The move comes as Dangote, 67, continues to expand his industrial empire, which includes cement, sugar, fertilizer, and a newly operational $20-billion oil refinery in Lagos.
Dangote, whose net worth stands at $15 billion, highlighted the pivotal role of recent restructuring efforts and strategic leadership appointments within the conglomerate.
The maiden consignment, comprising 45,000 metric tons of jet fuel, embarked on its journey to Rotterdam, Netherlands, aboard the vessel “Doric Breeze” from the Lekki Free Zone in Lagos on May 27.
With banks offering limited options, companies like Dangote Sugar are turning to the fixed-income market for alternative financing.
Dangote said Nigeria could halt premium motor spirit (PMS), or petrol, imports by next month thanks to the Dangote Oil Refinery.
The Dangote Petrochemical Complex, located on a peninsula on the outskirts of Lagos, represents a significant leap in industrial advancement.