ADVERTISEMENT
The Sun Nigeria
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
The Sun Nigeria
No Result
View All Result
ADVERTISEMENT
Home National

Dangote plans to generate 12,000MW of electricity by 2018

8th March 2016
in National
0
Dangote plans to generate 12,000MW of electricity by 2018
5
SHARES
103
VIEWS
Share on FacebookShare on Twitter

President of Dangote Industries, Alhaji Aliko Dangote, has stated that his company would be able to generate about 12,000 megawatts of electricity for the country in the next two years.

He also said that his business estate would start selling foreign exchange to the Central Bank of Nigeria by 2020.

Dangote spoke in Lagos on Monday at the Nigerian Economic Summit organised by Economist Events, an arm of The Economist of London.

He said, “We are looking at a situation that by 2020, we will be the one selling FX to the CBN. 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.

“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.

“We have 15 countries in the ECOWAS community that are duty-free. The export market is big and profitable if you have the capacity. Players in the manufacturing (sector) should be encouraged to export if they have the capacity. We must also meet local consumption.”

Dangote said the fall in crude oil price was not a curse and that the nation must use the opportunity to explore the potential in other sectors of the economy.

He said, “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 misbehaviour.

“But I think this is the right time for that. Government must come up with the right policy, because if we don’t do it now, we may not do it. But low prices do not mean doom. In 1998-1999, the price of oil was $9. What we need to do is just to block the leakages and pursue diversification.”

“There are some areas where we are facing serious challenges and there are some where we are not. It depends on your business model. If your business model is to import 100 per cent, definitely, you will be
facing challenges, because the inflow of foreign exchange is not where it used to be a year and a half ago,” he added

Philip Nwosu

Philip Nwosu

Related Posts

Nigeria gets largest share of IDA’s $93bn for resilient, robust economy
National

Solar Cells, game changer for nation’s alternative power sources – Buhari

8th August 2022
Recruitment: ECOWAS sets up ad hoc committee to investigate allegations of malpractice against Nigerian candidates
National

Recruitment: ECOWAS sets up ad hoc committee to investigate allegations of malpractice against Nigerian candidates

8th August 2022
Buhari’s Rep dumps APC
National

Buhari’s Rep dumps APC

8th August 2022
Next Post
Today’s cover

Today's cover

Ese Oruru: Police to dismiss indicted officers

Ese Oruru’s pregnancy: I did it –Yunusa

Zuma Woos Buhari as Africa’s Biggest Rivals Try to Make Up

Non-SIM registration contributes to Boko Haram casualty – Buhari

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Highlights

Death of rage and outrage

Buhari’s Rep dumps APC

Knocks on FG over Keyamo’s position on security, ASUU

INEC urged to allow Nigerians in Diaspora vote

West African students honour Ugwuanyi

Jaiz Bank posts N2.54bn Q2 profit

Trending

Nigeria gets largest share of IDA’s $93bn for resilient, robust economy
National

Solar Cells, game changer for nation’s alternative power sources – Buhari

8th August 2022
0

President Muhammadu Buhari, in the course of the week, directed the National Agency for Science and Engineering...

Recruitment: ECOWAS sets up ad hoc committee to investigate allegations of malpractice against Nigerian candidates

Recruitment: ECOWAS sets up ad hoc committee to investigate allegations of malpractice against Nigerian candidates

8th August 2022
PDP members in Zuru Emirate dump party for APC

PDP members in Zuru Emirate dump party for APC

8th August 2022
Death of rage and outrage

Death of rage and outrage

8th August 2022
Buhari’s Rep dumps APC

Buhari’s Rep dumps APC

8th August 2022
ADVERTISEMENT

Follow us on social media:

Latest News

  • Solar Cells, game changer for nation’s alternative power sources – Buhari
  • Recruitment: ECOWAS sets up ad hoc committee to investigate allegations of malpractice against Nigerian candidates
  • PDP members in Zuru Emirate dump party for APC
  • Death of rage and outrage
  • Buhari’s Rep dumps APC
  • Knocks on FG over Keyamo’s position on security, ASUU
  • INEC urged to allow Nigerians in Diaspora vote
  • West African students honour Ugwuanyi
  • Jaiz Bank posts N2.54bn Q2 profit
  • Again, crack in IPOB
  • Lalong has reawakened zeal in APC as Tinubu’s campaign DG –Dati
  • Bandits infiltrate Katsina metropolis, kill 4, abduct others
  • ‘Pastor’ arrested with 3 drums of Mkpuru Mmiri in Akwa Ibom
  • Arase mourns ex-IGP Tafa Balogun, says he was quintessential leader
  • Military airstrikes kill bandits’ warlord, 27 others in Katsina
  • Police arrest wanted suspected cultist in Osun
  • NANS boils over sit-tight executives
  • WAEC releases May/June 2022 WASSCE results today
  • Police neutralise suspected robber, rescue abductee in Delta
  • Ebonyi threatens to arrest Ezza leaders over vandalism of airport

Categories

  • Abuja Metro
  • Anambra Watch
  • Arts
  • Broken Tongues
  • Business
  • Business Week
  • Cartoons
  • Citizen Joe
  • Columns
  • Cover
  • Culture
  • Duro Onabule
  • Editorial
  • Education Review
  • Effect
  • Elections
  • Entertainment
  • Events
  • Features
  • Femi Adesina
  • Food & Drinks
  • Frank Talk
  • Funke Egbemode
  • Gallery
  • Global Square by Kenneth Okonkwo
  • Health
  • Insights
  • Kalu Leadership Series
  • Kunle Solaja
  • Kunle Solaja
  • Letters
  • Lifeline
  • Lifestyle
  • Literary Review
  • Marketing Matters
  • Muiz Banire
  • National
  • News
  • Offside Musings
  • Opinion
  • oriental news
  • Politics
  • Press Release
  • PressClips
  • Public Sphere
  • Ralph Egbu
  • Shola Oshunkeye
  • Sideview
  • South-west Magazine
  • Sponsored Post
  • Sporting Sun
  • Sports
  • Sun Girl
  • Tea Time
  • The Flipside – Eric Osagie
  • The Sun Awards Live
  • The Sun TV
  • Thoughts & Talks
  • Time Out
  • Today's cover
  • Tola Adeniyi
  • Travel
  • Travel & Tourism
  • Trending
  • TSWeekend
  • Turf Game
  • Uncategorized
  • Updates
  • Views from Abroad
  • Voices
  • World
  • World News
  • About Us
  • Paper Ad Rate
  • Online Ad Rate
  • Change of Name
  • The Team
  • Contact Us
  • Privacy Policy

© 2019 The Sun Nigeria - Managed by Netsera.

No Result
View All Result
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun

© 2019 The Sun Nigeria - Managed by Netsera.