Tag: PPP

  • FG will provide basic infrastructure for Nigerians – Osinbajo

    FG will provide basic infrastructure for Nigerians – Osinbajo

    Vice President Yemi Osinbajo said on Friday the Federal Government planned to use Public- Private- Partnership (PPP) to provide basic infrastructure to the people.

    He stated this at the launch of the PPP Disclosure Web Portal sponsored by World Bank and the Infrastructure Concession Regulatory Commission (ICRC).

    Osinbajo, who was represented by the Minister of State, Power, Works and Housing, Suleiman Hassan, emphasised the role of the private sector in the provision of basic infrastructure for Nigerians.

    The PPP Disclosure Web Portal encourages proactive disclosure of contract agreement between government and its contractors on PPP projects.

    The portal will make available to citizens and relevant stakeholders, information such as project title, type, government agency responsible, name of private concessionaire, contract sum and regular progress report on projects.

    The vice president said the provision of quality infrastructure remained a huge stumbling block to the country’s economic growth, hence the need to seek private sector intervention.

    NAN

  • Fed Govt to develop eastern ports through PPP

    Fed Govt to develop eastern ports through PPP

    Vice President Yemi Osinbajo yesterday reiterated the Federal Government’s commitment to the revitalisation of the moribund seaport in the Eastern region.

    He stated this after inspecting exhibition stands mounted by the Nigeria-American Chamber of Commerce, Kaduna State in partnership with the Economic Affairs Section of the United States (U.S.) Embassy in Abuja.

    He was reacting to the moribund status of Calabar, Port Harcourt and Warri Ports, even as major imports into the country through Tin Can and Apapa were destined for the East.

    According to the Vice President, the country needs more seaports but their development will be driven by the private sector.

     “We simply need to develop more ports. But for us, it has to be private sector-led. A lot of these initiatives have been private sector led.

    “I have been talking to several of the business communities in those areas.

    getic our manufacturing community is; it is just a wide range of products that we have seen here today.

    “And one of the things that strike you is that there is so much going on that you don’t know about.

    “This is my second visit. I was here last year and there is tremendous improvement already.

    “We have just seen someone who has a drying technology out there, which could really help with a lot of post-harvest loses and all that and there are people who are doing all manner of creative things.’’

    Osinbajo said the exhibition indicated that diversification of the economy, especially the agro-allied value chain “has already taken root so much and we are seeing tremendous progress’’.

    On how the Executive Orders would aid trade facilitation in the country, he stated: “One of the very important things is the whole business of pre-investment approvals.’’

  • Ex-Georgian PM: PPP, tax reform hold key to economic reform

    Ex-Georgian PM: PPP, tax reform hold key to economic reform

    Former Georgia Prime Minister Nika Gilauri has urged Nigeria to step up Public Private Partnerships (PPP), Tax to Gross Domestic Product (GDP) income and the anti-graft war to reform its economy.

    Gilauri said Nigeria had to overshadow her competitors and use “out of the box ideas” to help the reform the President Muhammadu Buhari administration has started.

    He spoke in Lagos yesterday at the ongoing 2017 Annual General Conference of the Nigerian Bar Association (NBA) with the theme ‘African business: Penetrating through institution building.”

    Using his country as a model, Gilauri said Georgia, previously ranked 112th worst place in the world to do business, climbed to the eighth best after reforms.

    He noted that finding the right formula in measuring performance is pivotal to the economic growth of many countries, such as Nigeria.

    On PPP, Gilauri said: “Depending on the right formula, if PPPs are done properly, it can bring about amazing results.

    “In Georgia, we did a huge and successful healthcare reform based on PPP, in a small country like Georgia, it was an amazing feat.

    “It is hard to get Foreign Direct Investment (FDI) in oil rich countries like Nigeria because of the perception of foreign investors who feel that such countries are wealthy.

    “For Georgia, we were able to lure investors by saying we were poor and in dire need of funding. Investments were one of the driving forces for the reform in Georgia.”

    The former Prime Minister noted that Nigeria’s tax to GDP income rate of one to six percent was “significantly low.”

    He said: “Nigeria needs to increase tax revenues to GDP by simplifying the tax process; this is something that I believe the Nigerian economy can improve because there are a lot of investments to be made in the country.”

    Gilauri said if his country which had gained notoriety for corruption was able to become one of the least corrupt in the world, Nigeria could achieve the same feat.

    “In 2004, we were the fifth most corrupt country in the world, in 2010 Georgia became the eighth least corrupt country in the world; there is nothing like innate or cultural corruption.

    “This transformation happened in five to six years, it was an amazing transformation and we have seen the measures the government of Nigeria is taking to fight corruption,” he said.

    The former Prime Minister noted that Georgia’s corruption fight was based on three pillars; outsourcing and privatisation, simplification and attracting new people by giving good salaries.

    “We tried outsourcing to get rid of possible corrupt practices, at a stage we even outsourced tax audits.

    “Government policies have to be simplified and you have to attract new people as well as give good salaries.

    “You cannot expect a civil servant to behave properly if he is not paid properly, so we introduced a performance based bonus system into the Georgian civil service,” he said.

     

  • Greener Lagos: Ambode hails PPP, solicits more support

    Greener Lagos: Ambode hails PPP, solicits more support

    The Lagos State Governor, Mr. Akinwunmi Ambode, has attributed the success recorded in the greener Lagos initiative to the active involvement of the private sector. He is delighted at the number of sites already developed and maintained by private companies and individuals across various locations in the state.

    Ambode, who spoke during the second Stakeholders Forum on Greening at Alausa, Ikeja, recalled that the Public-Private Partnership, which started about 15 years ago, has reduced the expenditure of the government on the greener Lagos initiative.

    He noted that about 120 sites have so far been developed and maintained through private sector participation out of the over 350 sites in all the local governments and local council development areas in the state. He was represented at the forum by the Commissioner for the Environment, Dr. Babatunde Adejare.

    According to the governor, the Lagos State Parks and Gardens Agency (LASPARK) is presently opening up more areas and sites in all the 57 LGAs and LCDAs in the state for adoption by interested corporate bodies or individuals for the continuation of the Lagos Greening Initiative.

    Ambode said the belief of his administration is that in the foreseeable future, the maintenance of all the gardens and parks across the state would have been taken up by “the Green Investors” and the state government will only regulate and monitor their activities.

    He maintained that although the cost of establishing world class recreational parks and gardens with state-of-the-art features and facilities are quite enormous, his administration will not rest on its oars in investing in the sustainability of the environment.

    While highlighting some giant strides of the state government in the greening initiative, Ambode said: “the ongoing upgrading of Alausa Park in front of Lagos State House of Assembly to a world- class standard with the provision of improved infrastructure and garden lights will serve as a major source of attraction to the citizenry.

    “Also in the last two years, we have commenced the landscaping and beautification of seven setbacks along Alfred Rewane Road, Ikoyi, the Gbagada-Oshodi median and the LASUTH perimeter fence setback, Oba Akinjobi Way, Ikeja.  All these had attained over 60 per cent completion status among several others,” the governor stated.

    He used the occasion to make a renewed call to private investors for their continuous support towards upgrading the beautification of more sites and be part of the story of a transformed Lagos, stressing that such collaboration would further increase Return-On-Investment for business owners and also boost their business reputation.

    The governor added: “Our approach to infrastructural development in this state is all inclusive. As we build bridges, we beautify the environment; as we construct more roads we adorn them with trees; as we open up new towns, we landscape all the degraded areas; this is our attitude to moving Lagos towards becoming a sure destination of choice for tourism and investment.’’

    Earlier, Adejare, represented at the event by the Special Adviser to Ambode on the Environment, Mr. Babatunde Hunpe,  said that the forum will go a long way in improving the working relationship between the state government and Private Sector “Partners”, especially on how to support government and plan expansion of the greening culture.

    “Convergence such as this is intended to create an avenue to review together all contending issues in all the policies relating to the environment with a view to making suggestions for improvement. Also, we can jointly facilitate shared inquiry into how to encourage adoption of green infrastructure through technology advancement at the state level” Adejare stated.

    He appreciated the continued partnership of investors with the ministry, saying that their support over the years has earned the state several awards locally and internationally.

    He informed the participants at the forum that awards would be presented to some committed partners who have been exemplary in supporting the state government since inception of the greening programme.

    The highlight of the events was the unveiling of the draft copy of Lagos Greening Policy and presentation of Green Ambassador Award to Zenith bank, GTBank, Ecobank, UBA, Fidelity Bank and SevenUp Bottling PLC for their sustained effort towards a cleaner and greener Lagos.

  • Jubilee housing scheme: PPP to the rescue

    •Brains & Hammers bankrolls project

    Determined to continue with its housing initiative, but faced with scarce financial resources, the Lagos State Government has embraced the public-private partnership (PPP) alternative to bring the scheme to fruition.

    To this end, the state government, earlier in the week, finalised agreement with a development firm, Messers Brains & Hammers Limited, for the development of the 618 housing units at the Jubilee Estate in Iganmu. The project is designed to drive urban redevelopment in the area which will engender increased property values in the surrounding environment, thereby re-positioning the current site to one  highly sought after.

    Going by the cosmopolitan nature of Iganmu, the Jubille Housing Estate is estimated to create 3,590 direct jobs and about 7,000 indirect jobs in the area. Iganmu is dominated predominantly by the informal sector operators such as artisans, labourers, traders and food vendors.

    The estate, upon completion, will house 96 units of two-bedroom flats; 414 units of three-bedroom flats and 108 units of four-bedroom terrace houses. In addition to adequate parking facilities and excellent infrastructure, the development will include a well-equipped club house with a swimming pool, recreational areas and landscaping.

    Following the signing of the Memorandum of Understanding (MoU), the development of the estate will begin next month, with a projected duration of 60 months from the receipt of all required approvals and permits.

    The Commissioner for Housing, Mr. Gbolahan Lawal, at the signing of the  MoU with Messrs Brains and Hammers Limited in his Alausa office, Ikeja, explained that the initiative, which was mooted by the administration of Governor Akinwunmi Ambode as part of activities to celebrate the 50th anniversary of the creation of the state, will stand as a symbol of the celebration for many decades to come.

    Lawal disclosed that the housing deficit in the state stands at over three million. Therefore, he further explained, in order to bridge this gap, about 200,000 housing units must be delivered annually in the next five years. This requirement, he emphasised, cannot be delivered alone by the government; hence the need to inject private capital into housing delivery. To achieve this purpose, the state government has made land available to prospective private developers who have exhibited technical and financial capabilities for the delivery of affordable housing units.

    “The Jubilee Estate project is a PPP between the Lagos State Government, represented by the Ministry of Housing and IBILE Holdings Limited on one hand and Brains & Hammers, one of the foremost housing developers in the country on the other hand. The state stands to derive significant internally generated revenue through the taxes that will accrue from the sale of housing units and will also benefit from Land Use Charge and other statutory payments for property,” Lawal explained.

    The Chief Operating Officer of Brains & Hammers, Mr. Ibrahim Wushishi, explained that while the firm will be leveraging on the latest construction technology to deliver the project, he nonetheless expects challenges. “The potential challenges with the site are two-fold. Firstly, the terrain is challenging for construction but over the years Brains and Hammers has developed the skill and competence required to provide quality construction regardless of terrain. We are leveraging on the best available technology in the form of vibro-flotation which will be used to stabilise the soil and prepare it to take large structures safely and securely. The second challenge we envision is being able to keep up with demand for the housing units. Due to the strategic location, we have been inundated with demand. As we are only able to build a total of 618 housing units currently, we are saddled with the limited supply and very heavy demand,” he explained, adding that the firm will be working with Lafarge Africa, who are recognised as the largest producers of building materials globally, including working with some of the proprietary technology in the form of specialised and customised concrete

    He revealed that the estate will be serviced by a stand-alone sewage treatment system that will have the required capacity and functionality to meet the needs of the estate in an environmentally-friendly manner, without recourse to other facilities in the area. Similarly, there is a plan to provide an integrated power system for the estate. This encompasses dedicated electricity supply from the local power provider and on-site power generation which will be augmented by a solar-powered solution. Wushishi said this will ensure value for money for residents and ensure carbon emissions are kept to a minimum in line with the new order of climate change.

    While Lawal signed for the state government, Messrs Adebola Sheidu, chairman of Brains and Hammers and Abubakar Sheidu, company secretary, witnessed for the company.

  • APC sweeps Benue LGC seats

    APC sweeps Benue LGC seats

    The Benue State Independent Electoral Commission (BSIEC) announced on Sunday that the All Progressive Congress (APC), had won all the 23 local government chairmanship seats in the elections held on Saturday.

    It also announced that the party won all the councillorship positions, with some of the candidates returned unopposed.

    BSIEC chairman John Tsuwa who declared the results in Makurdi, however, declined to release details of votes scored by the candidates.

    “The figures are not ready. I will not entertain questions because this is not a press conference,,” he told curious newsmen.

    Tsuwa said that eight political parties participated in the exercise and listed them to include Accord Party, APC, PDP, SDP, ACB, PPP, LP and NNPP.

    He thanked security agencies for ensuring a smooth conduct of the elections, and expressed happiness that no case of violence or snatching of ballot box was reported throughout the exercise.

  • PPP inevitable for economic growth, says Osinbajo

    PPP inevitable for economic growth, says Osinbajo

    •’Making Nigeria economy work won’t be easy task’

    Acting President Yemi Osinbajo said yesterday that partnership between public and private sectors is very important to grow the economy.
    He spoke at the Third Presidential Quarterly Business Forum at the old Banquet Hall of the State House, Abuja.
    Stressing that the government cannot provide all the services to Nigerians, he said the government is providing all the enabling environment and will not compete with the private sector in the provision of services.
    He said: “The real challenge is how to efficiently and faithfully implement these great ideas. I think for effective delivery, this partnership with the private sector is undoubtedly the way to go.
    “So, our approach in this respect and other sectors, the delivery unit will invite and work with private sector players in our delivery clusters to deliver on quality and value in all these various sectors. This we will do in all the identified sectors.
    “We will make ourselves accessible to you as much as possible.”
    He, however, warned that trying to get the economy to work will not be an easy task.
    According to him, it will take time and commitment to achieve.
    Minister of Budget and National Planning Udoma Udo Udoma noted that the newly launched Economy Recovery Growth Plan (ERGP) is to get Nigeria out of recession and put it on the path of growth.
    According to him, a lot of measures are already moving Nigeria in the right direction, even though there is still more to be done.
    Urging the gathering to be forthcoming on the constraints they are facing in their various sectors, he said Nigeria wants to leverage the power of the private sector.
    He said the government would leave no stone unturned to change Nigeria from a consuming to a producing nation.
    “We are here to focus on converting the plan into actions. Each action to be supported by clearly assigned responsibilities,” he said.
    Many special task forces in various parts of the plan, he said, were already on ground to ensure success of the plan.
    At the forum, Minister of Information Lai Mohammed made presentation on the Strategy Framework for Developing the Creative Industry.
    The strategy, he said, is to see how the sector can boost its contributions to the Gross Domestic Product (GDP) and grow over one million jobs.
    Minister of Communications Adebayo Shittu spoke on the ICT. Minister of Trade and Investment Okechukwu Enelamah made presentation on the Smart Digital Economy project.
    Some of the participants during the interactive session noted that the government was spending so much money to travel abroad looking for foreign investment but doing nothing to revive and protect the country’s dying industries.
    Others pleaded to the government to provide enabling environment for businesses to thrive.

  • Will PPP solve water crisis?

    Will PPP solve water crisis?

    Nigeria faces a huge challenge sustaining its water resource, projected to reduce from 2,506 cubic metres yearly from 1995 to 1,175 cubic metres in 2025, if not well managed. States, such as Lagos, are, however, taking the bull by the horns to provide potable water through public-private partnership (PPP). But, at what cost is this to the masses? Assistant Editor MUYIWA LUCAS asks.

    In 1981, the late Afro beat king, Fela Anikulapo-Kuti, released one of his greatest hits: Original  Suffer Head. In the album, Fela tried to capture the people’s sufferings in their struggle to get four essentials of life – water, food housing and light.

    Thirty-six years after this album, Nigerians’ struggle for these necessities has become more intense, with the hope of gettingthese essentials fading.

    More elusive in this search is safe drinking water. Indeed, water is a vital resource that constitutes a strategic issue. It attracts the attention of the entire international community who now facilitates access to and management of safe drinking water. The importance of water is further accentuated with its inclusion in the eight Millennium Development Goals (MDGs) set by the United Nations Development Programme (UNDP).

    Nigeria is endowed with water sources spread across various locations from the coastal region to the arid zone, yet harnessing the huge water and sanitation for the populace remains the lowest in the world.

    According to stakeholders in the water industry, more than 66 million Nigerians do not have access to potable water. This is despite the fact that the three levels of government – federal, state and local are entrusted with the responsibility for water supply. The Federal Government is in charge of water resources management; state governments have the primary responsibility for urban water supply, ditto local governments while communities are responsible for rural water supply.

    At present, Nigeria is not on track in hitting the MDG for water and sanitation. Initially, the country had envisioned that by 2015, 74 per cent of the population would have been supplied with safe water – a target it never met. With the slow pace of progress, the target may not even be met in the next 20 years.

    Experts agree that efforts are needed if the situation is to improve. This is why the United Nations Children Education Fund (UNICEF) has supported rural water supply, sanitation and hygiene in communities and schools across the country since 2002. UNICEF’s interventions have been financed by the United Kingdom’s Department for International Development (DFID) and the European Commission. A total of 6,960 new safe water sources (boreholes-dug – wells and protected springs) and over 19,100 household latrines have been constructed. Over 400 schools have been provided with latrines with separate provision for boys and girls and hand washing facilities.

    But these interventions seem to be a drop in the ocean. Few months ago, the state was hit by acute water shortage. This is notwithstanding the presence of diverse water bodies that surround the state.

    The Lagos State Commissioner for the Environment, Dr. Babatunde Adejare, said the presence of these water bodies does not  stop the state from experiencing what every other cosmopolitan city contends particularly the aspect of access to safe water.

    This, he said, was the reason the state government had been investing heavily in the water sector. He said the Lagos water project, which is anchored on a 15-year expansion programme is not limited to the urban areas alone as it is the desire of the state government to ensure that every part of the state has unrestricted access to potable water supply. The project entails the rehabilitation and expansion of water supply facilities, transmission and distribution systems, improved administrative infrastructure and institutional support.

    The first phase of the project, being coordinated by the Lagos State Water Corporation (LSWC), involves the construction of 15 mini- micro water works that have can produce 30 million gallons daily across various parts of the state to improve accessibility. However, the long-term plan is to resuscitate the Adiyan and Iju water works, which can produce 230 million gallons daily, if fully operational.

    Adejare explained that the other part of the long-term plan is to encourage private sector participation in the water sector. This explains why it is investing heavily in the sector to make it attractive to private investors who will subsequently device creative strategies that will make the sector lucrative for investment.

    He explained that globally, funding of government programmes and projects can no longer be sustained by the government alone, hence the Public-Private Partnership (PPP) initiative. It is a contractual relationship between the private and public sectors. It is a collaboration geared towards ensuring communal, state or national socio-economic development that is comprehensive and self-sustaining. It is an arrangement with direction and defined roles and responsibilities of all the actors in the plan. It is also a financial module designed to attract private investors to engage in infrastructural projects with short and long term benefits to the people.

    However, the PPP issue has drawn the ire of the public who are of the opinion that by so doing government  increases the burden on the people. They are livid that the government is abdicating its responsibility of water provision to the citizenry.

    Besides, they frowned at the recent decision to regulate haphazard bore hole drilling as well as certify borehole construction and regulate the practice.

    To the citizens, it is absurd that if they have to provide water for themselves. Why then should the government levy or tax them for doing so? they asked. Yet, to the government, the decision is to regulate and standardise the operation of drillers in the sector; it is mainly aimed at ensuring that best practice is strictly followed for health factors.

    Adejare has since been clarifying this, explaining that the government has not introduced charges for water consumption from boreholes, neither has it criminalised the sinking of boreholes.

    The sinking of boreholes and  water charges and the environment Protection and Management Law, he said, recently signed by  Governor Akinwunmi Ambode would not hinder the people’s access to good and potable water.

    He explained that for commercial users of borehole, some measure of control and charges were applicable as water is a resource that must be protected. At the moment, he said,  the state charges about five kobo per litre of water. He defined commercial use of borehole as the consumption of minimum of 50 drums daily, adding that no individual or household could use 50 drums of water daily, except for commercial purpose. Therefore, he said, only commercial users, such as soft drink manufacturers, and water production plant owners would be asked to pay.

    The requirement for permit, he argued, should not be misconstrued for indiscriminate charges, adding that registration of boreholes was necessary for the government to have an inventory of sources and quality of water used by the people in the state and track sources of pollution of the underground water.

    “The essence of obtaining permit is not pecuniary but to create and enhance a database of boreholes, ascertain quality of water being consumed by Lagosians and track the sources of underground water pollution. Water is a resource that ought to be protected and this is why the government recognises the need to minimise the pollution of the underground water by controlling indiscriminate sinking of boreholes,” he said.

    According to him, no government would allow uncontrolled pollution of the underground water through indiscriminate sinking of boreholes as they are windows into the aquifer. “By controlling the sinking of boreholes, we would have done a lot to curtail the outbreak of water borne diseases,” he stressed.

    He said further that the law on water charges was not new as it had been in existence since 2004, to control indiscriminate sinking of boreholes.

    In adopting this strategy, the government is not abdicating its reoles, but essentially releasing scarce resources for other important projects to create a win-win situation for the government and the private enterprise. The major advantage of the involvement of the private sector in governance is the efficiency it brings to project management.

    The issue of wastes, delayed delivery and abandonment associated with public projects is highly minimised. This is as a result of the optimisation of the returns on huge investment of the private sector.

    In Africa, PPP model in water supply can be traced to 1959 with the implementation of the Cote d’Ivoire urban water Affermage – a successful operation that continues to provide water to over seven million people.

    In Ghana, the private sector is  involved in urban and small-town water provision as the government strives to improve access to water supply services for its citizens in line with sustainable development goals.

    Between 2001 and 2013, in Niger Republic, the PPP model has improved access to potable water supply.

    In Nigeria, many state governments have opted for the PPP model in water supply.

    Across the globe, many countries are also rooting for the PPP model in water supply.

    For instance, in the United States, United Kigdom (UK), Brazil, Philippines, Haiti, China, Germany, Mexico, Australia, Morocco, Romania, among others, the PPP model is in vogue.

    When considered that yearly population growth rate in Europe is only about 0.22 per cent compared to three per cent of Sub-Saharan Africa, it is quite imperative that African states urgently seek alternative means of funding infrastructure development in the water sector.

  • PPP model for $20b Ogidigben gas industrial project, says Ag VP

    A$20 billion gas industrial park is to be set up in Niger Delta through a Public-Private Partnership model, Acting President Yemi Osinbajo said yesterday.

    This is a positive effect of the renewed interactive engagements of the Federal Government with oil-producing communities in the Niger Delta region,

    Osinbajo spoke during a meeting with international developers and investors of the project at the Presidential Villa, Abuja, according to a statement by his spokesman Mr. Laolu Akande.

    The statement added that the project tagged the Gas Revolution Industrial Park, GRIP, Ogidigben, (Delta State) envisaged to be a regional hub for all gas-based industries, will cover 2700 hectares with fertilizer, methanol, petrochemicals, & aluminium plants located in the park that has already been designated as a Tax Free Zone by the Federal Government.

    The statement said: “The building of an industrial gas hub in Ogidigben, Delta State was one of the feedbacks that was received during the visit to the state.

    “As a follow-up on the Niger Delta trips, Acting President Osinbajo, alongside the Honorable Minister of State for Petroleum Resources; Dr. Ibe Kachikwu, the Nigeria National Petroleum Corporation Group Managing Director; Dr. Maikanti Baru and other top government and NNPC officials met today with a group of international investors and developers put together under a consortium by Dubai-based firm, AGMC.

    “The consortium is made up of Fortune 500 companies like the GSE&C of South Korea, the China Development Bank, Power China and several others global operators from Asia and the United Arab Emirates in the Middle-East.

  • PPP key to tackling power deficit, says Dangote

    PPP key to tackling power deficit, says Dangote

    Foremost industrialist and President, Dangote Group, Aliko Dangote yesterday told the 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.

    Dangote, who also spoke about his efforts at contributing to lightening up Africa starting from Nigeria was one of the panelists at a discussion on closing the power gap in Africa organized by the CNBC, a renowned Satellite Business Television Channel.

    The businessman man also advised African governments to imbibe policy consistency and avoid summersault which he said often times scuttle the business plan of investors and discourages others from investing in the sector.

    Dangote who is investing heavily in power with his $12 billion refinery and petrochemical project said part of his project in Lagos is laying of sub-sea gas pipeline from Niger Delta to Lagos to provide 3 billion cubic feet of gas that can generate 12, 000 mw of electricity.

    Other panelists at the discussion include, Mr. AkinwunmiAdesina, President of African Development Bank, Deputy President of South Africa, Cyril Ramaphosa and Special Representative of the United Nation, Rachel Kyte.

    Dangote said government must galvanized 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 signed a $5 billion collaborative agreement with Blackstone to generate power and that while the private sector is investing, the role of government would be to provide the operational framework and conducive environment for the investment 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.