Dangote To Invest N500bn In Two Lagos Gas Pipeline Projects Africa’s richest man and owner of Dangote Group

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.

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