OB3 Pipeline Completion Projected to Generate $2 Billion for Nigeria’s Economy
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Aliko Dangote, CEO of Dangote Group, has projected that the completion of the OB3 gas pipeline will bring $2 billion in investment to Nigeria's oil and gas sector.
Dangote spoke during the inauguration of the Presidential Economic Coordination Council (PECC) at the State House on Thursday, July 4.
Established by President Bola Tinubu, the council includes government officials, lawmakers, and private sector leaders like Dangote.
"Getting OB3 alone to work will have an additional $2 billion inward into the economy," Dangote said. "There are other industries that will also bring in a lot of money into the country."
The OB3 pipeline is a key part of Nigeria's gas infrastructure, connecting to the Ajaokuta-Kaduna-Kano (AKK) pipeline. The $2.8 billion project, begun under former President Muhammadu Buhari, is expected to be operational by August and transport 2.2 billion standard cubic feet of gas per day.
Dangote praised the creation of the PECC, saying it would improve collaboration between the public and private sectors.
"We are going to sit down and advise the government on the kinds of policies that the government will roll out," he said. "Our own from the private sector is now to actually do our own bit, which is to invest heavily and create jobs."
The PECC includes other prominent business leaders, such as Tony Elumelu, chairman of United Bank for Africa, and Abdul Samad Rabiu, founder of BUA Group.