The chairman of the Dangote Group, Aliko Dangote, has declared that from October, Nigeria will no longer import polypropylene, a versatile product used in manufacturing.....KINDLY READ THE FULL STORY HERE▶
The development comes as the 650,000 bpd-capacity refinery nears total operational capacity.
Dangote Refinery to dip into the polypropylene market
The oil refinery is poised to enter Nigeria’s polypropylene market, estimated at $267.7 million.
The refinery aims to stop Nigeria’s dependence on imported polypropylene, a key material for packaging, textile, and automotive manufacturing industries.
The Nigerian Tribune reports that Dangote said Nigeria will no longer import polypropylene from October, stressing the country previously imported about a quarter of a million tons.
Polypropylene is a versatile plastic widely used in packaging, textiles, automotive parts, and medical equipment. Nigerian manufacturers import it in enormous quantities.
Nigeria’s polypropylene import jumps in 2024
Data from TradeMap shows that Nigeria’s annual polypropylene imports are estimated at $267.7, peaking at $407 million in 2022.
Other data from the National Bureau of Statistics shows that Nigeria imported about N99.6 billion in polypropylene in the first quarter of 2024, making it the country’s 12th most imported product.
The Nigerian billionaire stressed that the refinery will meet Nigeria’s demand for polypropylene and ease local production and manufacturers’ struggle with forex and extended shipping times.
“Industries will no longer need to stock up for months due to import delays,” Dangote said.
The many uses of polypropylene
He also stressed that his company is a significant consumer of polypropylene, especially in Dangote Packaging.
Reports say Nigeria imports polypropylene from Saudi Arabia, South Africa, South Korea, China, and Vietnam, which accounts for 90% of the country’s demand in Q1 2024.
Many industries favour the product due to its flexibility, durability, and cost-effectiveness.
It is also used in flexible and rigid forms for different applications, including food packaging, caps, closures, and containers for condiments and detergents.
Dangote begins another project
Legit earlier reported that Dangote Cement Plc had announced plans to set up a multi-million naira skills acquisition development centre in Lokoja, Kogi State, to enhance empowerment and economic development.
President of the Dangote Group, Aliko Dangote, and the Kogi Statement conceived the project.
A statement from the Dangote Cement Corporate Communications Department and the Plant Director at the Dangote Cement, Obajana, Azad Nawabuddin, said the project will be completed in the coming months.
