Dangote Subsea Pipeline’ll Help Nigeria – Osinbajo

Vice President Yemi Osinbajo during a visit to the Dangote ongoing $17 billion Gas pipeline, fertiliser, petrochemicals and refineries project at the Lekki Free Trade Zone (LFTZ), yesterday, said the ongoing sub-sea gas pipeline project by the Dangote Group will supply three billion cubic feet of gas daily and has the potential of solving the problem of electricity shortage which had plagued the nation for decades.

Osinbajo said the investment is the largest and the most ambitious in Africa and possibly the entire world. He also stated that the gas pipeline project is meant to supply 3 billion cubic of gas daily to Lagos and its axis. It will largely address power outage. That is huge when compared with our current requirement, it is about 2 billion cubic of gas daily.

“If it can be done, it is a major asset for Nigeria. It will boost our gas supply tremendously. 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

He 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.

Osinbajo said the pipeline is secure and installed under the sea. He said it is not what anybody can go and vandalise with the way it is designed. Noting that the project would boost power supply tremendously, he said on completion it would be a major strategic asset for Nigeria.

“The pipeline is meant to refine 650,000 barrels per day. 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 a very important project is meant to take off in 2018″

In his remarks, President of the Dangote Group, Aliko Dangote, said the decision to site the projects in Lagos was due to the investment friendly climate in the state.