Africa’s richest man and owner of Dangote Group, Alhaji Aliko Dangote has said that ongoing $17 billion Gas pipeline, fertiliser, petrochemicals and refineries project at the Lekki Free Trade Zone (LFTZ), Lagos, would provide unhindered availability of petrol
in the country.
He pointed out
the the Gas pipeline when completed would also generate power for the country.
Dangote, who
took the Vice President, Prof Yemi Osinbajo SAN, and a host of dignitaries
round the facility, added that the Gas pipeline would increase revenues to
government, increase demand for domestic crude Petroleum of petrochemicals and
foreign exchange from exports.
He asserted
that the Gas pipeline site is the largest industrial site in the world and
there is an extremely good relationship with the community.
“This Gas
pipeline sight is eight times the size of Victoria Island. It was designed to
process a large variety of crudes, including all the African crudes, a range of
Middle Eastern crudes and US crudes. The refinery has flexibility to convert
kerosene to jet/diesel,” he added
Dangote noted
that his business policy is not solely for profit making but to make Nigerians
happy, saying “I am a proud Nigerian. I do not own even a 9inch block outside
Nigeria. When I travel, I stay in a hotel”.
He stated that
for instance, “Dangote cement, if we take it to Ghana, we will make N500 on
each bag, but we didn’t do that.
We (Dangote
Group) are attacking the economy with a policy of no more import, which will
create jobs. We are suffering today because we have not diversify the economy
of Nigeria.”
Expressing
satisfaction over the ongoing Gas pipeline, Vice President Osinbajo, said the
project will supply three billion cubic feet of gas daily and had the potential
of solving the problem of electricity shortage which had plagued the nation for
decades.
According to
him, the investment as a whole was an incredible industrial project being the
largest and the most ambitious in Africa and possibly the entire world.
Addressing
journalists after a two-hour presentation on the entire project, Osinbajo
described the Gas pipeline as a major asset for the country, if it can be done.
“For me, that
is the most important project that could be done in this country. It will be a
major boost for industrial development,” he stated.
Osinbajo
explained that the sub-sea installation, estimated at N500 billion, would go
all the way from Bonny in Rivers State through Ogedegbe, Olokola to Lekki and
Escravos Lagos pipeline and then West Africa Gas Pipeline
Talking about
securing the refinery, Osinbajo said the pipeline the was installed under the
sea. “It is a subsea project. It is fortified and goes into the sea.
It is not what
anybody can go there and vandalise with the way it is designed. It is designed
to prevent vandalisation.
It is designed
very deep into the sea,” the vice president maintained. Osinbajo opined that at
the completion of the Gas pipeline, it is meant to refine 650,000 barrels per
day.
He said, “By
all projection, it is the largest in the world. It has a petro-chemical plant.
It also has fertilizer plant, which is projected to be the largest in the
world. “The refinery will take off in the first quarter of 2019. I think the
sub-sea gas pipeline,
which is very
important project, is meant to take off in 2018. “The gas pipeline project
there. It is an incredible industrial undertaking. It is possibly the largest
and the most ambitious on the continent today.
It is truly
inspiring” Dignitaries that accompanied Osinbajo to the refinery site are the
Minister of Solid Minerals, Dr. Kayode Fayemi; Minister of Works, Power &
Housing, Mr. Babatunde Fashola (SAN); Minister of Industry, Trade &
Investment, Mr. Okechukwu Enelamah; Minister of Finance, Mrs. Kemi Adeosun and
former Ekiti State Governor, Otunba Adeniyi Adebayo among others.
(NAIJALOADED)
(NAIJALOADED)
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