Africa's richest man Aliko Dangote plans to quadruple Nigeria's gas supply (Video)

Africa’s richest man Aliko Dangote plans to quadruple Nigeria’s gas supply
Africa’s richest man, Aliko Dangote, plans to quadruple the supply of gas in Nigeria.

Dangote has a net worth of $15 billion, according to the Bloomberg Billionaires Index. According to Forbes, Dangote’s net worth is $18.4 billion.

Aliko Dangote plans to invest about $2.5 billion to boost the supply of gas in Nigeria. Dangote plans to boost Nigeria’s gas supply, which currently stands at about 1 billion standard cubic feet per day, to 4 billion.

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According to Gavin Serkin, author of the book, “Frontier: Exploring the Top Ten Emerging Markets of Tomorrow”, Aliko Dangote is “trying to build up the supply of energy into the [Nigerian] economy so that Nigeria can actually diversify [away from oil].”

“What you are seeing from Dangote is this push to really expand energy production because that’s what he needs for his own investments, ” Serkin added.

“The potential for Nigeria is huge,” Serkin says. Nigeria is the number one pick for frontier markets investors, according to a survey performed for his book.

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Some of the factors in Nigeria’s favor, according to Serkin, are Nigeria’s young and huge population, as well as the projected growth of this population. According to the UN, the size of Nigeria’s population is projected to overtake that of the United States by 2050.

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