Dangote aims to increase the supply of gas to Nigeria by building pipelines with the support of the Carlyle Group LP and Blackstone Group LP which are two of the largest private-equity firms in the world. The pipelines will increase the amount of gas available in Nigeria to 4 billion standard cubic feet per day from 1 billion. The Dangote group intends to invest between $2.2 billion to $2.5 billion in two sub-sea 550-kilometer (341-mile) pipelines running from the Niger delta region to Lagos (nigerianoilgas.com).
While Nigeria has gas reserves of about 180 trillion cubic feet (more than any other African country), most of what is produced gets flared or exported because of a lack of infrastructure to transport it to local companies and households.
Creating pipelines will increase electricity generation and will counter the country’s long-time problem of power cuts according to Dangote. Dangote further disclosed that the laying of the pipelines is expected to begin before the end of the year, adding that the first pipeline should be ready by the middle of 2017 (petroleumindustryreview.com).
The Nigerian National Petroleum Corporation (NNPC) has announced that its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), recorded ₦234.63 billion revenue from the sale of white products in the month of March 2021 representing a 24.7% increase from the ₦188.15billion sales recorded in the previous month of February 2021.…
Dangote has continued to attract huge forex into the country through his pan- African operations as the half year result for Dangote Cement indicates an increase in revenue from Pan-African operations by 139.9 per cent, growing to N807.1 billion as against N336.4 billion, reported in the corresponding period of 2023.…
Dangote Cement Plc has sustained its position as a leading contributor to Nigeria’s economy with a tax charge of N173.93 billion for the financial year ended 31st December 2021. According to the cement group’s audited results released on the portal of the Nigerian Exchange Ltd (NGX), the tax charge represents…
KUPOLOKUN INDUSTRY WATCH: Dangote Increases Nigerian Gas Supply http://t.co/7RB8cAOgmX