Dangote Group is investing about $20 billion into gas pipeline infrastructure, power generation, petrochemical, fertilizer, sugar refinery and petroleum refinery to help combat national issues like unemployment,infrastructural deficit security, the Guardian reports.
The Group had earlier announced that it will spend one billion dollar for the construction of a six million metric tonnes per annum cement factory in Okpella, Edo State.
The Executive Director, Dangote Group, Devakumar Edwin, gavee the reassurance that in 2017 the refinery and petrochemical plant will be expected to meet the demands of all the consumers across the country.
He noted that gas inadequacy has being an Achilles hill for the company and since the pipelines will be capable of handling two to three billion standard cubic feet of gas per day, it could only get better.
“Today in our cement plants, we are importing N2 billion worth of Low pour fuel oil (LPFO) and N1 billion worth of diesel every month to support our operations due to lack of gas. It will be difficult for any industry spending so much on electricity generation to reduce the cost of production with inadequate gas.
“If gas is available, production will increase and the cost of production will reduce. So, this attempt is going to give a major boost in employment figure. Farmers are not being able produce very well because the fertilizers that are being imported, which is handled by the state governments, does not come on time and lack basic nutrients required for the country’s type of soil. So, people do not really get the right benefits. Soil and the nutrient required are not being analyzed before they are produced”, he added.
According to Edwin, when the project is completed it will open doors for other key sectors that will bring about socio-economical development.
“Then, we are going into petrochemicals. Almost everything you see comes in plastic and all are being imported. If we can make the materials available, the country can then again be self-sufficient in terms of petrochemicals. We are also looking at solar energy, renewable energy and green energy.
“With the huge gas we are bringing to the shore, we will improve power generation. When we start manufacturing most of these things locally, the problem of unemployment will be solved. This will also curb the social problem and crimes. We are also going through a lot of pains. But we don’t want to look at the negative side we are looking at the positive sides”, he said.
“I think the current situation will make everybody to focus on local production and on the long run, there will be sufficiency. Sufficiency can come in two phases, for instance, we can focus on agriculture and attain food sufficiency and we stop importation and focus on exporting.”
