Nigeria : Africa's Richest Man Will Fix Nigeria's Chronic Fuel Crisis

Clyde C Coger Jr

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In the Spirit of Sankofa,



Africa's Richest Man Will Fix Nigeria's Chronic Fuel Crisis


Dangote, who has made most of his money through his African cement business, is building a 650,000 barrel-per-day oil refinery and petrochemical plant in the commercial capital, Lagos, scheduled for completion by early 2018. The facility, with capacity to produce 55.2 million liters of gasoline daily, will produce other fuels as well as fertilizer and polymers, according to Devakumar Edwin, chief executive officer of the Dangote Group ...



Aliko Dangote
Photographer: Tom Saater/Bloomberg



http://www.bloomberg.com/news/articles/2016-01-14/dangote-set-to-meet-nigeria-s-fuel-needs-as-state-refineries-age


Cars jam a gasoline station waiting for fuel in Lagos, Nigeria.
Source: AFP via Getty Images



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Clyde C Coger Jr

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Kemetstry

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I find it hard to believe that a country with such oil reserves has a fuel shortage





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Clyde C Coger Jr

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Video: Ethiopian bamboo: The new green gold of Africa?

Ethiopian bamboo: The new green gold of Africa?03:38

upload_2016-4-9_14-31-27.jpeg

(CNN)Money really could grow on trees for a new industry in Ethiopia.

Two-thirds of the bamboo in Africa is situated in the upwardly-mobile state, and it is hoped that "green gold" can power growth.
"The farmer who has bamboo is rich, but he doesn't know it," says Adane Berhe, CEO Adal Industrial PLC, which is helping to build the new industry ...


http://www.cnn.com/2016/04/07/africa/ethiopia-bamboo-mpa/index.html


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Clyde C Coger Jr

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US seeks to recover $144 million in Nigeria oil industry bribery case

The Justice Department on Friday filed a civil complaint seeking to recover $144 million in assets obtained through paying bribes to a former Nigerian oil minister
The complaint said two Nigerian businessmen conspired with others to pay bribes to the minister, who steered lucrative oil contracts to companies owned by them

... Alison-Madueke was charged with money laundering in Nigeria, the country's financial crimes agency said in April. She previously denied to Reuters any wrongdoing when questioned about missing public funds and corruption allegations ...

http://www.cnbc.com/2017/07/14/us-seeks-to-recover-144-million-in-nigeria-oil-industry-bribery-case.html


Alison-Madueke


21 Hours Ago

Reuters


 
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Clyde C Coger Jr

going above and beyond
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...
US seeks to recover $144 million in Nigeria oil industry bribery case

The Justice Department on Friday filed a civil complaint seeking to recover $144 million in assets obtained through paying bribes to a former Nigerian oil minister
The complaint said two Nigerian businessmen conspired with others to pay bribes to the minister, who steered lucrative oil contracts to companies owned by them

... Alison-Madueke was charged with money laundering in Nigeria, the country's financial crimes agency said in April. She previously denied to Reuters any wrongdoing when questioned about missing public funds and corruption allegations ...

http://www.cnbc.com/2017/07/14/us-seeks-to-recover-144-million-in-nigeria-oil-industry-bribery-case.html


Alison-Madueke


21 Hours Ago

Reuters

...
US moves to seize $140 mn from Nigerian oil corruption


Washington (AFP) - US officials said Friday they plan to confiscate $144 million in corruption-tainted assets of Nigerian oil executives found in the United States including an $80 million yacht the "Galactica Star."

The yacht and a $50 million condominium overlooking New York's famed Central Park were among the riches tied to dirty contracts awarded by Nigeria's former oil minister between 2011 and 2015, the US Justice Department said statement ...

https://www.yahoo.com/news/us-moves-seize-140-mn-nigerian-oil-corruption-204200978.html







AFP Fri, Jul 14 1:42 PM PDT



 
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