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Business News of Thursday, 20 February 2020

Source: www.mynigeria.com

Dangote's refinery is the 8th wonder in the world- Femi Otedola

Otedola visits Dangote refinery Otedola visits Dangote refinery

Nigeria's billionaire Femi Otedola has described the yet-to-be-completed refinery of his friend and fellow billionaire Aliko Dangote as the 8th wonder in the world.

Otedola made this declaration in a tweet he shared online where both men were pictured smiling together.

The oil refinery, which is still under construction, is currently valued at $12 billion.

It would be the single largest in the world upon completion, with the capacity to meet Nigeria’s fuel consumption.

The fertilizer plant is estimated to have a capacity of 2.8 million tonnes of urea annually.

"Visited the @AlikoDangote 8th wonder in the world - second-largest fertilizer plant (ready for commissioning) and the biggest oil refinery (75% completed, with the petrochemical unit 60% completed). I’m still in AWE having not been in Lagos for 5 months," Otedola tweeted.



Devakumar Edwin, Dangote Group’s executive officer, said in August 2019 that the completion of the refinery would be delayed until the end of 2020.

This is later than the 2020 projected completion date that was earlier announced.