The President, Dangote Group, Aliko Dangote yesterday told an audience at the World Economic Forum (WEF) holding in Davos Switzerland that a joint effort between government and private sector to tackle the power deficit remained a key element in boosting the economy of Africa, The Nation reports.
He said part of his $12 billion refinery and petrochemical project in Lagos involved the laying of sub-sea gas pipelines from Niger Delta to Lagos to provide 3 billion cubic feet of gas that can generate 12, 000 mw of electricity. Dangote said government must galvanize the private sector in the provision of stable power in Africa “and that at the end it would be a win-win situation because when power is available a lot of people will put to work and government revenue will also increase.”
According to him, his company also signed a $5 billion collaborative agreement with Blackstone to generate power and added that while the private sector is investing, the role of government would be to provide the operational framework and conducive environment for the investments to thrive. He stated that given the abundance of resources needed to generate power like gas and coal which he said the continent is blessed with, more had to be done to close the power deficit.
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