As part of the its $5 billion joint venture agreement with Black Rhino Group, a subsidiary of the Black Stone Group to develop power infrastructure in Africa, Dangote Group plans to establish power plants in Abuja and Kano.
Chairman of the group, Alhaji Aliko Dangote disclosed the plan on Friday at the 38th Convocation lecture of the Ahmadu Bello University, ABU, Zaria.
He said that the plan is intended to boost power generation in the country.
“We are also furthering a new ground by investing in two 554 Km, 3 billion square cubic meter feet of gas offshore pipeline project, the first indigenous owned undersea gas pipeline that will supply gas to industries and power plants and it would be run from Bonny through gas fields,’’ he said.
Dangote also revealed plans by his company to cultivate 260,000 hectares of sugarcane plantation as well as invest $1 billion in the cultivation of rice.
He said that Nigeria's socio- economic problems could best be tackled by strengthening small and medium entrepreneurship and eliminating the problems of power supply, lack of access to finance and a good regulatory environment.
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