The Dangote Petroleum Refinery, Africas largest and owned by the continents richest man, Aliko Dangote, has sealed a partnership with Japans Mitsui Chemicals to jointly produce petrochemicals in Nigeria, marking a fresh push to diversify Africas largest industrial complex.
The memorandum of understanding MOU, signed at the Tokyo International Conference on African Development, will enable the partners to produce resins and fertilizers using feedstock from Dangotes 20-billion, 650,000-barrel-per-day refinery in Lagos. Mitsui, which operates resin and PET ventures across Asia, will contribute technology transfer and expertise.
Strategic pivot into higher-value products