The ongoing construction of the multi-billion dollars Dangote Refinery at the Lekki Free Zone, LFZ, in Lagos will be completed in the first quarter of 2019, while the gas pipeline project would be completed by 2018. On completion, the Federal Government is expected to earn over N145 billion ($500 million) from Dangote investments in the state.
Other investments of Dangote in Lagos include the ongoing petrochemical project, gas pipeline project and the fertilizer project.
It is meant to refine 650,000 barrels per day. By all projection, it is the largest in the world. It has a petro-chemical plant. It also has fertilizer plant, which is projected to be the largest in the world. There is also a sub-sea gas pipeline project there.
It is an incredible industrial undertaking. It is possibly the largest and the most ambitious on the continent today. It is truly inspiring to see.
The gas pipeline will go all the way from Bonny through Ogedegbe, Olokola to Lekki here and Escravos, Lagos pipeline and then West Africa Gas Pipeline.
That is also meant to produce 3 billion cubic of gas daily. That is huge. If you consider our current requirement, it is about 2 billion cubic of gas daily or so. That is incredible. If it can be done, it is a major asset for Nigeria. It will boost our gas supply tremendously. It will be a major boost for industrial development.
Apart from the 135,000 direct jobs that the projects would create, another 100,000 indirect jobs would be generated.
The refinery, petrochemical, gas and fertilizer projects being undertaken by Dangote would significantly boost the economy of Lagos and Nigeria in general. The projects would have great multiplier effects on the nation’s economy.