As Nigeria battles with unsteady power supply, Dangote’s 12000 megawatts plan seems to be overly appropriate.
Africa’s richest man, Aliko Dangote has declared his plans on Tuesday to generate about 12000 megawatts of electricity for Nigeria by 2018.
One major economic challenge that the nation has is the epileptic power supply. The nation’s electricity is the major setback most small and big enterprises face. It gets worse when the fuel price keeps going up. The trend coupled with inflation in the currency makes it difficult to power generators.
During the announcement of Dangote’s 12000 megawatts plan, he refused to see the dark side of the decline in oil price. Instead he chose to see potentials of the sad situation.
“This is the right moment to pursue the diversification of the economy, which we have been talking about. I know that once oil gets back to $80 per barrel, we will go back to the same misbehavior.”
He also urged the government to pursue policies that will encourage the diversification.
It is an unpardonable oversight to miss the planning of an alternative power generation source in any Nigerian business plan today. Being a big time manufacturer, Aliko Dangote understands the essence of a steady power supply.
“Our gas project would have our gas pipelines on the seabed. The output should be able to provide about 12,000MW of power. We see a lot of transformation when we are done with most of our projects by 2018.”
Dangote also shared his future plans of trading Foreign Exchange with the Nigerian federal government, say by the year 2020.
“We are looking at a situation that by 2020, we will be the one selling FX to the CBN.”
Going further on, the generous business mogul also has plans set in motion to help the nation out with the exorbitance of Nigerian staple, rice. Recent reports says that the staple grain has hiked up to N25,000 per bag.
Before now Dangote pledged a $1 billion investment in Nigerian rice production; making him the single largest investor in rice production in Africa. Our projects are mainly import substitution. We are working to be self-sufficient to grow about a million tonnes of rice over the next five years,” he said.