Power: Dangote To Invest $3bn In Energy Sector


Dr Abdul Muktar, the Chief Strategy Officer, Dangote Group, has disclosed the company’s intention to embark on $3 billion projects for a 540-kilometre pipeline from Niger Delta to the Lekki free trade zone in Lagos.
Muktar hinted this at the annual roundtable session of the Lagos Chamber of Commerce and Industry’s (LCCI) Power Sector Group.
He said the project, which would come on board by the first quarter of 2019 aims at transporting three billion cubic metres of gas per day.
He further said that to address the issue of pipeline vandalism, which is the major challenge faced by the energy sector, the pipelines would be offshore.
According to him, the relevance of gas power cannot be over emphasised, as lack of it can cascade into manufacturing issues and subsequent national economic concerns.
He also described the project as a game changer in the industry, advised that apart from the scarcity of forex in recent times, power has primarily been the major challenge faced by the manufacturing sector. “And the problem we also have in the power sector is the unavailability of gas.”
The Dangote strategy officer cited that only 25 percent of the 250 million cubic feet of gas needed to run the Dangote cement plant per day is available, “this has made the company resort to coal and is not too environmentally friendly.”
Guardian

Be the first to comment

Leave a Reply