Lagos — An oil refinery being built by Aliko Dangote would account for half of his conglomerate’s assets when it was finished in 2019, a senior executive told Reuters, underscoring the scale of the bet being made by Africa’s richest man on Nigerian oil and gas. Dangote built his fortune on cement, though his sprawling business empire also spans flour milling, agriculture and real estate. Now he is building the world’s largest single oil refinery and also expanding into fertiliser, aiming to tackle long-standing problems in Nigeria’s energy markets. Though Africa’s biggest crude oil producer, Nigeria imports almost all its petrol due to poor maintenance of its four state-owned refineries. Dangote hopes to meet the fuel needs of the entire country. Dangote group executive director Devakumar Edwin said the $10bn refinery should be completed by December 2019. "As of today, cement is the biggest part of the group. By 2020 the refinery will be the biggest by assets," he said at the site i...

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