President/Chief Executive of Dangote Group , Aliko Dangote has said the conglomerate is focusing on generating foreign exchange earnings over the next five years when all its projects are completed.
The business tycoon said this in a Pre-Convocation lecture of the Ahmadu Bello University, Zaria, at the weekend, adding that the Group will be the country’s largest forex earners after the Nigerian National Petroleum Corporation (NNPC).
Dangote listed the 650, 000 barrels per day refinery and a separate 1.2 petrochemical complex that will be completed in 2018 as one of the projects that will generate at least $6bn foreign exchange for the nation.
“In total, we are investing over $19 billion across our various businesses as we consolidate in some, grow others and venture into new fields and enterprises,” he said.
Dangote Group, he said, is furthering a new ground by investing in two 554Km, three billion square cubic feet (scf) gas offshore pipeline project.
The project which is the first indigenous owned undersea gas pipeline that will supply gas to industries and power plants, would be run from Bonny through the various gas fields and would generate 12,000MW of power.
According to him, some other investments, according to him, include a $5bn joint venture agreement with the Black Rhino Group to develop energy infrastructure in Africa.