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Nairaland Forum / Nairaland / General / Politics / Dangote To Generate 12,000 Megawatts For Nigeria (2426 Views)
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Dangote To Generate 12,000 Megawatts For Nigeria by ceometromedia: 8:48pm On Mar 07, 2016 |
The richest African alive and also president of Dangote group, Aliko Dangote has predicted that his business estate would start selling foreign exchange to the Central Bank of Nigeria by 2020. Speaking at The Nigeria Summit hosted by The Economist, Dangote stated that the problems facing the Nigerian economy should not be blamed on the dwindling price of oil, as the same oil traded for $9 per barrel in 1998. He also said that by 2018, his company should generate about 12,000 megawatts of electricity for Nigeria by 2018. He said: “We are looking at a situation that by 2020 we are the one selling FX to CBN. Our projects are mainly import substitution. We are working to be self-sufficient to grow about a million tonnes of rice over the next five years.” “Our gas project would have our gas pipelines on the sea bed. The output should be able to provide about 12,000MW power. We see a lot of transformation when we are done with most of our projects by 2018.” “We have 15 countries in the ECOWAS community that is duty-free. Export market is big and profitable if you have capacity. Players in the manufacturing should be encouraged to export if they have the capacity. We must also meet local consumption.” He also charged the government not to forsake the diversification of the economy even when the price of oil bounces back to normal. “Diversification of the economy should be given priority, if we do not do it now, maybe we never will. People sometimes underestimate the economy of Nigeria by simply looking at the FX situation.” “Lower oil prices does not spell doom. In 1998 oil price fell to $9. There are opportunities in every ‘crisis’ situation. Once oil gets back to $80, we forget about diversifying the economy. Now is the time to diversify the economy.” http://www.metronaija.com/2016/03/dangote-to-generate-12000-megawatts-for.html cc: lalasticlala 3 Likes 1 Share |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by chocolateme(f): 8:49pm On Mar 07, 2016 |
That would be nice. |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by Trut(m): 8:51pm On Mar 07, 2016 |
Story for the gods 4 Likes |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by stevecantrell: 8:55pm On Mar 07, 2016 |
kool but kindly leave politicians and their fronts out of this venture. |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by chriskosherbal(m): 8:56pm On Mar 07, 2016 |
What a welcome development. 1 Like |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by Xionez(m): 8:58pm On Mar 07, 2016 |
And we should take this serious after many proclaimations and the associating failures?! |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by lwisee: 8:59pm On Mar 07, 2016 |
Abeeegiiiiiii Na this kind person they bite us and at the same time blow us breeze. He is part of our problem .... 7 Likes |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by mrvitalis(m): 9:01pm On Mar 07, 2016 |
This man has shown how easy it is to be successful in Nigeria.... all his investment are the obvious and simple things anyone with money should do Ride on bro am coming 4 Likes |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by LadyExcellency: 9:03pm On Mar 07, 2016 |
Oil and Gas as always, why not gold, barrette and other minerals littered in every State of the Federation 1 Like |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by jmichlins(m): 9:16pm On Mar 07, 2016 |
God bless me and lift me up that i will be amazed by my success. 1 Like |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by alexory23(m): 9:16pm On Mar 07, 2016 |
Wake up day dreamer,PDP will not be in power by 2018, and you will have enough competetor 2018,cos Nigeria too will not be waiting for you,we are moving forward with or without you,.....what ve you realy being doing Mr richest man before now......"Beger His Country Men" 2 Likes |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by DonCortino: 9:34pm On Mar 07, 2016 |
lwisee:I always sing it but many see it as bad belle. This man is 30% responsible for our economic woes since from obj's regime. Gradually buying nigeria over. |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by Raddie(m): 9:35pm On Mar 07, 2016 |
In all fairness " I really don't want you anywhere near Nigerian politics." |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by Standing5(m): 9:39pm On Mar 07, 2016 |
Where is the apparatus to transmit the 12 GigaWatt? He should be ready to float his own country in order to build transmission lines and have people use his generated power. Funny enough, i just finished reading how india is getting solar power at less than N20 per KiloWatt-Hour. Nigeria is still trying to make the suffering customers mercy-pay or mercy-fund power plants and transmission lind projects. 2 Likes |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by omohayek: 10:07pm On Mar 07, 2016 |
Standing5: Well said! The problem right now isn't so much one of generation (although the pipeline vandalism isn't helping) as the poorly maintained national grid that all the gencos must work with. What magic is Dangote going to do to get around that? I saw the same article that you mentioned on CNN. If the Indians have managed to get solar power to be so affordable, then that seems to be the ideal solution for Nigeria as well. The key issue will be whether operators are allowed to operate their own mini-grids, so they can spread their fixed costs over many customers, or whether they will be forced to feed their power into the same national grid that can't even handle the current power generation. |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by fistonati(m): 10:11pm On Mar 07, 2016 |
Selling Nigeria to the Hausa's since independence |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by chinchum(m): 10:30pm On Mar 07, 2016 |
It seems this man is the one that will save the nation. I have argued that the top two requirements in this nation are 1. refineries that can meet all of the nations and even surpass the local need to meet export 2. Power supply that will stimulate SMEs growth and big industries. Funny enough, a single private hand has set his eyes on achieving that by 2018. I disagree with his claim that oil price was not the man reason for our forex woes, his argument is like saying he was stable earning 90,000 naira in 1998, and so should not be unstable in 2016 cos he earns 350,000naira . Dangote failed to account sharp increase in forex demand in the last 18 years, time value of money, increase in population, increase in middle class population . local demand of oil derivatives in 1998 vs 2016, refineries output in 1998 vs 2016. e.t.c 4 Likes 1 Share |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by omenka(m): 10:31pm On Mar 07, 2016 |
It is too risky allowing just one man to have such enormous stake in the economy of a nation. We need to be careful what we allow some of these big timers do. |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by 989900: 7:29am On Mar 08, 2016 |
Once oil gets back to $80, we forget about diversifying the economy. Now is the time to diversify the economy.” |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by omowolewa: 7:53am On Mar 08, 2016 |
Leave the word 'will' for politicians. |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by flowjoe: 8:06am On Mar 08, 2016 |
Trut: by 2018 his refineries should be up n running so he would need stable electricity supply that's why he's setting this up it's gonna affect u, me & the next man directly or indirectly it's possible bro Nigeria can be great & self sufficient again |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by phayvoursky(m): 8:11am On Mar 08, 2016 |
ITS A WELCOME IDEA BUT ONE THING IS CERTAIN. NO BUSINESSMAN DOES SUCH FOR THE LOVE OF COUNTRY. HE'LL HAVE A MEANS OF REAPING 200%. |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by middlebelter(m): 11:03pm On Mar 30, 2017 |
omohayek: My take on this matter is simple. Lets encourage him to give us the 12000MW now, when you bring the N20 Indian model, we also grab it. 60% of our economic crisis today can be attributed to poor power supply. We don't have to put Dangote supply on national grid that is not ready for it. Perhaps we can ring-fence Lagos-Ogun Industrial axis to take it. What that implies to me is that we can also ensure uninterrupted power supply if 50% of Dangote MW is discharged for industrial use just like Geometric has ring-fenced Aba. Egbin and national grid will take care of domestic users or combined. Now imagine if all businesses in Lagos- Ogun axis don't have to worry about power supply which is also affordable. Nigeria economy will be transformed within a year. Does that not call for excitement? DANGOTE RIDE ON JARE! |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by Horus(m): 11:21pm On Mar 30, 2017 |
https://www.youtube.com/watch?v=IKO1L2iGxAQ Nigeria to ramp up electricity generation to 12,000 megawatts |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by overhypedsteve(m): 11:23pm On Mar 30, 2017 |
well Dangote keep telling us that it is easy to succeed in Nigeria, if it is easy then why did he not ask the thousands of under paid labourers working in his factories to go out and become big CEO'S like him. to make it you need to work hard. if not then you may never taste success. 1 Like
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Re: Dangote To Generate 12,000 Megawatts For Nigeria by PapaBrowne(m): 11:34pm On Mar 30, 2017 |
lwisee: Can you break down to me point by point how Dangote is part of your problem? 1 Like |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by Guestlander: 12:23am On Mar 31, 2017 |
omenka: Hyundai of Korea started that way and was very instrumental in the development of South Korea. I don't think there's anything to worry about as long as the government is alive to it's responsibilities. |
Re: Dangote To Generate 12,000 Megawatts For Nigeria by ZombieTERROR: 12:41am On Mar 31, 2017 |
The problem is the word 'to' in the headline |
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