Aliko Dangote, Nigeria’s richest businessman.

Nigeria might get a new gas pipeline that will quadruple supply to homes in the capitol. Aliko Dangote who is considered the richest man in Africa plans to make this a reality by investing in the infrastructure. He might also be backed by either the Carlyle Group or Blackstone Group which are currently the two biggest private-equity firms in the world.

The pipeline should be 550 kilometers long, going from the Niger River region (the biggest oil and gas source in Nigeria) to the commercial region in Lagos increasing its available gas from 1 billion standard cubic feet per day to 4 billion. Dangote is prepared to invest somewhere between 2.2 and 2.5 billion dollars in the project. According to the Billionaires Index his net worth is around 15 billion dollars.

Nigeria has the biggest gas reserve in Africa, counted at 180 trillion cubic feet, but most of that gas goes to export because the country’s infrastructure can’t transport it to domestic users. The increase of gas usage could reduce energy waste and increase the generation of electricity to the country where 70 percent of power plants are fueled by gas.

If everything goes according to the plan the first pipes will be in the ground by the end of the year with the deadline of mid-2017.

A lot of international companies are interested in this project but so far the most serious candidates on the list are Blackstone and Carlyle, said Dangote in an interview. Both companies will sign an agreement with Dangote Industries to invest in sub-Saharan Africa. Blackstone plans to join investment with their African partner, Black Rhino from Johannesburg, and cash out somewhere around 5 billion dollars.

The economy of Nigeria is based on its oil export, which brings 90 percent of earnings and almost two thirds of annual revenue. Since the price of crude oil dropped by 40 percent in the last few months Nigeria felt a 20 percent drop in the countries shares and weakening of its own currency by 18 percent against the dollar.

Dangote’s plan also includes building an oil refinery that could process 650,000 barrels a day and bring Nigeria its own petroleum products in less than three years.

While he is working on improving the situation in his country and investing in the future Dangote’s other companies will work on increasing export. His plan is to create a serious international corporation that will be competitive on the stock market. His main trump will be his cement and fertilizer industries and when the time is right petrochemicals and refined fuels as well.