The Prime Minister of Grenada, Dickon Mitchell, has described the Dangote Petroleum Refinery and Petrochemicals as a significant investment in industrialisation and manufacturing needed by developing countries for their industrial growth.
He noted that, it is through this type of investment that Africa and the developing countries can reverse the cycle of exporting raw materials while importing finished products from developed countries.
This is as Dangote hinted at potential partnerships with the Caribbean community in the production of cement and fertilisers as well as petroleum products.
Mitchell, who is the chairman of the Caribbean Community (CARICOM or CC) – a political and economic union of 15 member states and five associated members throughout the Americas, The Caribbean and Atlantic Ocean, disclosed this yesterday during his tour of the Dangote Petroleum refinery and Petrochemicals complex in Ibeju Lekki, Lagos.
Mitchell expressed optimism for Nigeria’s future, especially, given the number of young Nigerians trained and working at both the refinery and fertiliser plants, saying “the $20 billion refinery, the largest private investment in Africa, stands out for its team of young professionals, predominantly aged between 26 and 28, most of whom hold advanced degrees and were educated in Nigeria.
“It has been a wonderful experience to witness the shared skills, depth of sophistication, and automation here. Seeing so many bright young Nigerians, particularly in the laboratories, is truly inspiring. I believe this bodes well for the future development of Nigeria,” he stressed. Mitchell stated that the Caribbean Community would be exploring partnership opportunities with the Dangote Group to enhance its economy.
On his part, Dangote described the visit as symbolic, noting that, “many Caribbean countries are beginning to discover crude oil and are exploring opportunities to build their own refineries. This would help them address the challenge of exporting crude while importing refined petroleum products at high costs.”
Dangote emphasised that the company is looking for partnerships in the Caribbean not only in petroleum products but also in cement and fertiliser production.
He mentioned ongoing discussions about importing crude from these countries while supplying them with refined products.
“There are numerous partnerships in place. He is not only the Prime Minister of Grenada but also the Chairman of the Caribbean Community (CARICOM). We are exploring collaboration in areas such as cement and petroleum, including the possibility of buying crude from them while selling some of our petroleum products to them. We already export to the U.S., Mexico, and other regions, so there is significant collaboration we are looking to develop between us and them,” he added.
