– Africa’s richest man, Aliko Dangote has unveiled plans by his company to generate a whopping 12,000 megawatts of electricity by 2018


– Dangote said the power project would be gas-based and that his company would lay its gas pipelines across the floor of the sea


Africa’s richest man, Aliko Dangote, has unveiled plans to end poor power supply in Nigeria by 2018 Nigerian business tycoon, Aliko Dangote has concluded plans to generate 12,000 megawatts of electricity by 2018 to boost the current power supply that has hovered between 2,000 and 5,000 in the last 15 months, Leadership reports. Dangote confirmed the ambitious plans on Monday, August 29, noting that the gas project is company is planning would have gas pipelines on the floor of the sea.


“Our gas project would have our gas pipelines on the seabed. The output should be able to provide about 12,000MW of power. We see a lot of transformation when we are done with most of our projects by 2018,”


Dangote told a conference in Lagos on Monday. Leadership reports that Dangote also reiterated the words of business professor Pat Utomi that the fall in crude oil price is a blessing in disguise which the nation must take advantage of to explore other sectors of the economy.


“This is the right moment to pursue the diversification of the economy, which we have been talking about. I know that once oil gets back to $80 per barrel, we will go back to the same misbehaviour. “But I think this is the right time for that. Government must come up with the right policy, because if we don’t do it now, we may not do it. But low prices do not mean doom. In 1998-1999, the price of oil was $9. What we need to do is just to block the leakages and pursue diversification.


“There are some areas where we are facing serious challenges and there are some where we are not. It depends on your business model. If your business model is to import 100 per cent, definitely, you will be facing challenges, because the inflow of foreign exchange is not where it used to be a year and a half ago,”


he said. Meanwhile, the price of cement all over the country has gone up by 44% with a bag selling for N2,300, thereby triggering a ripple effect in the open market. In order to meet up with their production costs, operators under the Cement Manufacturers Association of Nigeria (CMAN), of which Dangote is one, have raised prices of brands by N600 per bag in factories, including additional N100 cost for haulage. This has increased retail prices from N1,600 to N2,300 depending on location. In some areas, prices have shot up to N21,350 or higher.


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Nothing new

He meant 2028

I wanted to smile until I saw 2018, But wait its another promise....... Smh

I wanted to smile until I saw 2018, But wait its another promise....... Smh

We might wake up one day and find out the air we breathe is now manufactured by Dangote and the name Nigeria will be changed to United State of Dangote.. Lol

Dangote is surely a great entrepreneur. He believes in a better Nigeria by way of investing even though we all know it's about the profit. Ride on Dan!

FID(Final Investment Decision) comes by 2018, it is achievable by 2024.

Commendable

Nice move. Dangote should be consulted to help fix our system.