Browsing: Lekki Free Zone

Despite Nigeria being the second biggest oil-rich country in Africa after Libya with an estimated 37 billion barrels of proven oil reserves, the West African country has been depending on imported refined fuel products due to lack of domestic refining capacity.

Dangote Oil Refinery

However, the situation is set to be changed by the coming of Dangote Oil Refinery, a company owned by the Nigeria-based Dangote Group.

The Dangote refinery, a 650,000 barrels per day (bpd) integrated refinery and petrochemical project under construction in the Lekki Free Zone near Lagos, Nigeria, is expected to be the Africa’s biggest oil refinery and the world’s biggest single-train facility, upon completion.

Light and medium grades of crude

The project which is being developed with an estimated investment of $12bn will process a variety of light and medium grades of crude to produce Euro-V quality clean fuels including gasoline and diesel …

West Africa’ economic growth will continue being sluggish this year as the region’s 15 economies continue witnessing tepid growth unless things change.

Despite this projection, Nigeria, which is by far the largest economy in the region, has been investing in sectors that are attracting investors from across the continent and beyond.

As the world moves into work and live city models, Nigeria has not been left behind and it can only get better for Africa’s most populous nation. And with 196 million people living in the country going by 2018 estimates, accommodating these numbers means that the country has to be innovative in how it provides housing as well as create jobs.

According to the Centre for Affordable Housing Finance in Africa (CAHF), housing remains a perennial problem in Nigeria. With projections that the country’s population will surge to 263 million by 2038, providing housing for Nigerians needs an emergency …