Business & Finance

List: Aliko Dangote Invests $20bn Into 6 Areas of Nigeria’s Economy

Aliko Dangote, Africa’s richest man

The executive director, Dangote Group, Devakumar Edwin, has stated that the conglomerate is investing $20bn into six areas of Nigeria’s economy. The areas are:

gas pipeline infrastructure,
power generation,
sugar refinery
petroleum refinery

“With the huge gas we are bringing to the shore, we will improve power generation. When we start manufacturing most of these things locally, the problem of unemployment will be solved. This will also curb the social problem and crimes. We are also going through a lot of pains. But we don’t want to look at the negative side, but the positive,” he said.

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He disclosed that the Dangote fertiliser plant will be operational next year, and that the petrochemical plant and refinery, is expected to meet local consumption of petroleum and chemical products in the country.

He noted that the gas pipeline is capable of handling two to three billion standard cubic feet of gas per day.

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