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Dangote Plans To Generate 12,000MW Of Electricity By 2018

The President, Dangote Industries, Aliko Dangote, has said his company should be able to generate about 12,000 megawatts of electricity for the country by 2018.

He also said that his business estate would start selling foreign exchange to the Central Bank of Nigeria by 2020.

Dangote, who spoke in Lagos on Monday at the Nigerian Economic Summit organised by Economist Events, an arm of The Economist of London, said, “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.

“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.

“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.”

Dangote said the fall in crude oil price was not a curse and that the nation must use the opportunity to explore the potential in other sectors of the economy.

Source: Punch

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One Comment

  1. DANGOTE TO SUPPLY 12000 WATTS OF ELECTRICITY BY 2018.

    It sounds extra terrestrial when his nation can only supply 5000 watts. Nigeria deserves 100.000 watts of electricity to power the nation to development. Dangote have invested his billions in Nigeria and other African countries while his Nigerian corrupt counterparts invests their money in Europe, America and the Middle East. Dangote is a patriotic Nigerian with a heart of Gold.

    Reply

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