The president of the Group, Aliko Dangote made this known while addressing students of Executive MBA and Owner Manager Programme of the Lagos Business School in Lagos on the topic: “The Role of Business in Driving Sustainable Development in Africa-The Story of The Dangote Group.”
Dangote said that the company is investing a total of $20 billion on these six key projects: Refinery and Petrochemicals, Sub-Sea Gas pipeline, Fertilizer, local Rice production, local Sugar Production and Cement capacity expansion.
He explained that the refinery & petrochemical project with capacity to process 650, 000 bpd and which will gulp $11 billion will ensure fuel sufficiency for Nigeria, while the petrochemical plant will produce 1.3m mtpa polypropylene and polyethylene
He noted that: “The fertilizer project at a cost of $2 billion will contribute to national food security and sufficiency for Nigeria. It will produce 2.8 million Tons of Urea Per Year.”
“The EWOGGS pipeline project on which $3billion will be sunk and located near Bonny Island to Lekki Free Trade zone will unlock significant gas supply for industry and supply gas to generate 12,000 MW of power.
“The rice project, a fully integrated rice production and processing operation with capacity to produce 960,000 MT of milled rice per annum will meet 16 per cent of Nigeria’s rice needs. It has two rice mills of 240,000 MT / season, two crop seasons in a year.”
Dangote disclosed that the rice projects estimated to gulp $1 billion will cover 150,000 Ha across Adamawa, Edo, Jigawa, Kano, Kebbi, Kogi, Kwara, Nasarawa, Niger, Sokoto, Taraba and Zamfara states. 40 per cent of paddy to be provided by Dangote Rice Outgrower Scheme.