Dangote meets Grenada’s prime minister, mulls petroleum products export to Caribbean nations

Aliko Dangote, president of the Dangote Industries Limited, has hinted at potential partnerships with the Caribbean community for the production of cement, fertilisers, as well as petroleum products.

Dangote spoke on Thursday when Dickon Mitchell, prime minister of Grenada, visited the Dangote Petroleum Refinery.

Mitchell is also 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 the Atlantic Ocean.

Speaking after the tour, Dangote described the visit as symbolic, noting that many Caribbean countries are starting to discover crude oil and also exploring opportunities to build their own refineries.

According to the business tycoon, the development would help the countries address the challenge of exporting crude while importing refined petroleum products at high costs.

“The visit shows that many countries are proud of what we have been able to achieve because a lot of countries have been unable to deliver their refineries. It shows their pride in seeing a Black person like them at the Caribbean, although I am from Nigeria, succeed,” Dangote said.

“For them, this is a dream, especially as many Caribbean countries are beginning to discover oil but still depend largely on exporting crude while importing petroleum products, which is costlier than in America. Their dream is to set up a refinery—perhaps not of this size—but one that would cater to their people.

“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.”

‘DANGOTE REFINERY, SIGNIFICANT INVESTMENT FOR INDUSTRIALISATION, MANUFACTURING’

On his part, Mitchell described the Dangote refinery as a significant investment in industrialisation and manufacturing needed by developing countries for their industrial growth.

He said through such investment, Africa and other developing countries can reverse the cycle of exporting raw materials while importing finished products from developed countries.

“This is an incredible achievement and a testament to Mr. Dangote’s vision, not just for his company, but for Nigeria and Africa as a whole,” he said.

The prime minister expressed optimism for Nigeria’s future given the number of young Nigerians trained and working at both the refinery and fertiliser plants.

Mitchell stated the Caribbean Community would be exploring partnership opportunities with the Dangote Group to enhance its economy.

“One of the reasons I am here is to pursue synergies and partnerships between the diaspora and Africa, particularly in areas such as the refinery, cement, and fertiliser,” he said.

The prime minister said there are great opportunities to develop partnerships between the Caribbean and Africa.