The ongoing sub-sea gas pipeline project by the Dangote Group which will supply three billion cubic feet of gas daily has the potential of solving the problem electricity in the country, says Vice President Yemi Osinbajo.
The Vice President spoke when he paid a visit to the on-going Dangote’s $17 billion Gas Pipeline, Fertilizer, petrochemicals and Refineries project at the Lekki Free Trade Zone.
Osinbajo also said the refinery, petrochemical, gas and fertilizer projects being undertaken by Aliko Dangote, Africa’s richest man would be a major strategic asset for Nigeria, adding that the project as a whole is an incredible industrial undertaken being the largest and the most ambitious in Africa.
“This is incredible if it can be done because it would be a major strategic asset for Nigeria, it would boost our power supply tremendously,” Osinbajo said.
Akinwunmi Ambode, Governor of Lagos, also added that the Dangote Group’s refinery projects will create 235,000 jobs upon completion.
“Apart from the 135,000 direct jobs that will be created from the projects, another 100,000 indirect jobs would be generated while income accruable to the federal government would be in the region of over $500million in three years,” he said.
“Firstly, there is a refinery project that is ongoing; second there is a petrochemical project that is also ongoing.
“There is pipeline transfer project that brings gas from Bonny down to Olokonla and down to Lekki and then the fourth one is the fertilizer project all in one location.
“The coming of the Vice President to inspect this project is instructive and a sign post that the Federal Government is in support of what is going on.
The refinery is expected to come on stream by the first quarter of 2019 and the gas project by 2018.
Present at the visit were Kemi Adeosun, Minister of Finance; Kayode Fayemi, Minister of Solid Minerals; Babatunde Fashola, Minister of Power, Works and Housing and Okechukwu Enelamah, Minister of Industry, Trade and Investment.