Let's Talk Afro-Geopolitics II: The Future of the Nigerian State

Will Nigeria Make it 2060 (Its 100 Anniversary of Independance)?

  • Yes

    Votes: 27 47.4%
  • No

    Votes: 30 52.6%

  • Total voters
    57

The Odum of Ala Igbo

Hail Biafra!
Joined
Jan 16, 2014
Messages
17,969
Reputation
2,950
Daps
52,735
Reppin
The Republic of Biafra
So Tinubu wants to destroy the last bastion of Nigerian identity, Lagos, for that septugenarian bloodsucker Buhari? He wants Igbos and Yorubas to be fighting on the streets of Surulere over that Katsina vampire? Wonders never cease!

 

Secure Da Bag

Veteran
Joined
Dec 20, 2017
Messages
42,446
Reputation
21,800
Daps
132,056
Africa's richest man makes a $17 billion bid for immortality

The cement plant and its two sister factories in Nigeria have long been the bedrock of Dangote’s fortune, Africa’s biggest. But Dangote’s future—and, as he likes to say, that of the entire continent’s economy—lies to the south on the Nigerian coast. About 40 miles east of Lagos, on more than 6,700 acres of former swampland bound by a lagoon and the Atlantic Ocean, contractors are putting the finishing touches on a fertilizer plant valued at $5 billion. Next to it, construction of a vast oil refinery—a $12 billion project—is under way.

If all goes according to plan, the complex will immortalize the 61-year-old Nigerian businessman as Africa’s most prominent industrialist, vaulting Dangote Industries’ annual revenue from $4 billion to about $30 billion, roughly 8 percent of Nigeria’s gross domestic product. Oil industry experts such as London-based CITAC have questioned the project’s timeline, citing logistical and financial challenges. But Dangote insists the refinery, which will be Africa’s largest, is on track. “By 2020 I will finally dispatch oil,” he says during a January interview at his Lagos home.

Despite controlling the world’s 10th-largest oil reserves, Nigeria has only four aging, inefficient state-owned refineries, leaving it almost wholly reliant on imports for its fuel needs. Dangote says his massive refinery could end that dependency and lift electricity generation in a nation plagued by blackouts: “It will change the entire economy of Nigeria.”
 
Top