$17bn Gas pipeline in Lagos will provide unhindered petrol- Dangote

ko dangotAfrica’s richest man and owner of Dangote Group, Alhaji Aliko Dangote has said that ongoing $17 billion Gas pipeline, fertiliser, petrochemicals and refineries project at the Lekki Free Trade Zone (LFTZ), Lagos, would provide unhindered availability of petrol in the country. He pointed out the the Gas pipeline when completed would also generate power for the country.

 Dangote, who took the Vice President, Prof Yemi Osinbajo SAN, and a host of dignitaries round the facility, added that the Gas pipeline would increase revenues to government, increase demand for domestic crude Petroleum of petrochemicals and foreign exchange from exports.

 He asserted that the Gas pipeline site is the largest industrial site in the world and there is an extremely good relationship with the community. “This Gas pipeline sight is eight times the size of Victoria Island.

 It was designed to process a large variety of crudes, including all the African crudes, a range of Middle Eastern crudes and US crudes.

 The refinery has flexibility to convert kerosene to jet/diesel,” he added. Dangote noted that his business policy is not solely for profit making but to make Nigerians happy, saying “I am a proud Nigerian. I do not own even a 9inch block outside Nigeria. When I travel, I stay in a hotel”. He stated that for instance,  “Dangote cement, if we take it to Ghana, we will make N500 on each bag, but we didn’t do that. We (Dangote Group) are attacking the economy with a policy of no more import, which will create jobs.

 We are suffering today because we have not diversify the economy of Nigeria.” Expressing satisfaction over the ongoing Gas pipeline, Vice President Osinbajo, said the project will supply three billion cubic feet of gas daily and had the potential of solving the problem of electricity shortage which had plagued the nation for decades. 

According to him, the investment as a whole was an incredible industrial project being the largest and the most ambitious in Africa and possibly the entire world. Addressing journalists after a two-hour presentation on the entire project, Osinbajo described the Gas pipeline as a major asset for the country, if it can be done. “For me, that is the most important project that could be done in this country. It will be a major boost for industrial development,” he stated. Osinbajo explained that the sub-sea installation, estimated at N500 billion, would go all the way from Bonny in Rivers State through Ogedegbe, Olokola to Lekki and Escravos Lagos pipeline and then West Africa Gas Pipeline.

 Talking about securing the refinery, Osinbajo said the pipeline the was installed under the sea. “It is a subsea project. It is fortified and goes into the sea. It is not what anybody can go there and vandalise with the way it is designed. It is designed to prevent vandalisation. 

It is designed very deep into the sea,” the vice president maintained. Osinbajo opined that at the completion of the Gas pipeline,  it is meant to refine 650,000 barrels per day. He said, “By all projection, it is the largest in the world.

 It has a petro-chemical plant. It also has fertilizer plant, which is projected to be the largest in the world. “The refinery will take off in the first quarter of 2019. I think the sub-sea gas pipeline, which is very important project, is meant to take off in 2018. “The gas pipeline project there. It is an incredible industrial undertaking.

 It is possibly the largest and the most ambitious on the continent today. It is truly inspiring” Dignitaries that accompanied Osinbajo to the refinery site are the Minister of Solid Minerals, Dr. Kayode Fayemi; Minister of Works, Power & Housing, Mr. Babatunde Fashola (SAN); Minister of Industry, Trade & Investment, Mr. Okechukwu Enelamah; Minister of Finance, Mrs. Kemi Adeosun and former Ekiti State Governor, Otunba Adeniyi Adebayo among others.

Why me, why did I come into government now? – Buhari

– President Muhammadu Buhari says he wonders why he came to power at this economic -challenging period

– The president said with God’s help, the country will experience better days

-The president addressed Nigerians in London on the state of the economy
President Muhammadu Buhari has wondered why he came into government at this period of economic challenges but expressed optimism in the success of the administration with God’s help.

The Punch reports that the president said this on Friday, February 5 when he was addressing the members of the Nigerian community in the United Kingdom in London.

President Buhari said he always wondered why oil, which used to sell for over $140 per barrel, would reduce to $30 per barrel during his time as president and why he wasn’t in charge when the country was financially buoyant. He said he however continue to pray to God to be merciful to the over 170 million Nigerians.

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“With the problems we have in this government, I sometimes wonder. At least, this time around, I asked for it, I prayed for it, I went round the country and I asked for it. But the first time under the military, I allowed the military to take decision.

“But I say why me? Why is it that it is when they have spent all the money, when they made the country insecure that I returned?
“Why didn’t I come when the treasury was full? Oil price was over $140 per barrel and when I came, it slipped down to $30. Why me?
“I keep on praying to God to pity Nigeria and its over 170 million people who are exposed to climate change, illiteracy and poverty.”

The president applauded the United States and Britain for preventing the previous administration from rigging the election. He recalled that Samdo Dasuki, the national security adviser had urged the service chiefs to tell the Independent National Electoral Commission (INEC) that they could not guarantee safety during the polls.

He said Professor Attahiru Jega, the chairman of INEC had guarantee 60 percent free and fair election at a point when the country had only managed 45 per cent.

“Then we insisted that election must be done according to the constitution.

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“At this point again, I must hasten to thank the United States for sending the Secretary of State, Kerry, to go and read the riot act to the previous government and speak to Prof. Jega, the Chairman of INEC and speak to us as opposition that the US would not tolerate any election outside the Nigerian constitution.

“They maintained the pressure from that date until after the election and the formation of the new government.

“I think Nigerians honestly should thank the US for this. The same thing with Britain, they used all their experience and their powers to make sure that the Federal Government did not rig the last election.
“We thank God, we thank these super powers and we thank technology. Why we thank technology is because of the permanent voter cards and the card readers.”
Meanwhile, t he president has handed over power to Yemi Osinbajo, the vice president while he is on a short vacation, a move that has generated reactions from Nigerians.
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