Completion of OB3 gasoline pipeline will entice $2 billion into Nigeria’s financial system — Aliko Dangote


The Chief Govt Officer (CEO) of Dangote Group, Aliko Dangote, has projected that the completion of the OB3 gasoline pipeline will entice an influx of $2 billion into Nigeria’s oil and gasoline sector.

He mentioned this in the course of the inauguration of the Presidential {Economic} Coordination Council (PECC) on the State Home in Abuja on Thursday.

In line with Dangote, the inauguration of the council is a constructive step, incorporating non-public sector involvement in authorities decision-making.

He additionally talked about that the federal government has began the implementation course of, significantly within the gasoline sector.

Dangote highlighted that the completion of the OB3 gasoline pipeline will convey $2 billion into the financial system.

“We’re going to sit down and advise the federal government on the sorts of insurance policies that authorities will roll out. Most of these items, we’ve them. They’re already being mentioned over and over.  It’s only a matter of implementation.

“I believe the selection of those that we’ve at this presidential {economic} council are ok to have the ability to advise authorities on methods to implement.

“Our personal from the non-public sector is now to really to do our personal beat which is to speculate closely and create job. Governments don’t actually nice job. What they do is to provide us the proper insurance policies, which I believe, we’ve all these insurance policies.

“You may see interventions in gasoline. Getting OB3 alone to work may have extra $2 billion inward into the financial system. There are different industries that may also herald some huge cash into the nation,” Dangote mentioned.

What you must know

The OB3 pipeline challenge serves as an important hyperlink to the Ajaokuta-Kaduna-Kano (AKK) gasoline pipeline, forming an important a part of Nigeria’s gasoline infrastructure.

The pipeline which began in 2020 by former president Muhammad Buhari is estimated at $2.8 billion.

In line with the GCEO of NNPC, Mele Kyari, the infrastructure will come into operation by August and it’ll facilitate 2.2 billion scf gasoline throughout Nigeria.

Kyari mentioned the challenge will revolutionize the gasoline trade, including that it’s going to meet the calls for of the nation.

Extra on Presidential {Economic} Council

President Bola Tinubu inaugurated the presidential {Economic} Coordination Council (PECC) on Thursday, July 4, 2024.

The crew contains the president, the 36 state governors, lawmakers in addition to members of the organized non-public sectors, amongst others.

On the a part of the organized non-public sector members embody: Alhaji Aliko Dangote; Mr. Tony Elumelu; Alhaji Abdul Samad Rabiu; Ms. Amina Maina,  Wale Tinubu, Mr. Segun Ajayi-Kadir; Dr. Funke Opeke; Dr. Doyin Salami; Mr. Patrick Okigbo; Mr. Kola Adesina; Mr. Segun Agbaje; Mr. Chidi Ajaere; Mr. Abdulkadir Aliu; and Mr. Rasheed Sarumi.

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