Aliko Dangote, President of Dangote Industries said his company should be able to generate about 12,000 megawatts of electricity for the country by 2018.
Dangote said that his business estate would start selling foreign exchange to the Central Bank of Nigeria by 2020.
Dangote disclosed this on Monday at the Nigerian Economic Summit organised by Economist Events, an arm of The Economist of London.
According to him, “We are looking at a situation that by 2020, we will be the one selling FX to the 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.
He further said, “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.
He added, “We have 15 countries in the ECOWAS community that are duty-free. The export market is big and profitable if you have the capacity. Players in the manufacturing (sector) should be encouraged to export if they have the capacity. We must also meet local consumption.”