Chairman of Dangote Group, Alhaji Aliko Dangote has revealed that the group is driving 6 major projects which will provide foreign earnings and savings of $15.5 billion. The projects are expected to generate over 290 thousand jobs in the country.
Aliko Dangote disclosed this at a presentation to business leaders and CEOs at the Lagos Business School noted that the projects include
- Petrochemicals
- Fertilizers
- Subsea gas pipeline
- Local rice production
- Local sugar
- Cement capacity expansion
The @DangoteGroup is driving six major projects that will create about 290,000 jobs and provide FX earnings/savings of about $15.5bn – @AlikoDangote #DangotevisitsLBS #LBSonTour #DangoteRefinery
— Lagos Business School (@LBSNigeria) May 9, 2018
Dangote further revealed that the group has an investment pipeline of $23 billion that will help drive key infrastructural growth and improve economic activities.
While giving a breakdown of the $23 billion investments, he said, $11 billion will go to refinery, $3 billion to a gas pipeline project ( EWOGGS), $2.2 billion to fertilizer, $2 billion to power, $1.8 billion to upstream oil, $1.3 billion to cement projects, $1 billion to rice production, $1 billion to sugar backward integration.
According to Dangote, the EWOGGS pipeline project will significantly improve gas supply security for use by power plants, fertilizer production and other industrial factories as current national supply is put 1,000 mscfd.
When our refinery is ready, Nigeria will become the largest exporter of petrochemical, even larger than South Africa – @AlikoDangote #DangotevisitsLBS #LBSonTour #DangoteRefinery pic.twitter.com/YgsxOgU5r3
— Lagos Business School (@LBSNigeria) May 9, 2018
With a capacity of 3,000mscfd of gas and covering a distance 550 km from Bonny in the Niger Delta to the Lekki Free Trade Zone in Lagos, the EWOGGS pipeline project will supply Nigeria enough gas to generate 12,000 MW of power.
The project will complement existing gas supply system in Nigeria like the Escravos-Lagos Gas Pipeline System (ELPS), West African Gas Pipeline (WAGP) and stimulate investments by International Oil Companies (IOC) and other gas asset holders to develop their fields and reduce gas flaring.
All our companies doubled their income despite the recession and none of them is in debt – @AlikoDangote #DangotevisitsLBS #LBSonTour #DangoteRefinery pic.twitter.com/Sc7M64joPj
— Lagos Business School (@LBSNigeria) May 9, 2018
Dangote also revealed that the group is growing rapidly with revenue expected to grow by more than 7 times in the next 5 years from $4 billion to $30 billion.
The life of an entrepreneur is not about enjoyment but about making sacrifices. I go to the office like every other staff – @AlikoDangote #DangotevisitsLBS #LBSonTour #DangoteRefinery
— Lagos Business School (@LBSNigeria) May 9, 2018
@AlikoDangote says he is still interested in buying @Arsenal but that will come sometime in 2020 #DangotevisitsLBS#LBSonTour
— Lagos Business School (@LBSNigeria) May 9, 2018
