Blackstone Group has strengthened its ties to Nigeria, the West African country where it could put big money to work.

The private equity giant announced Thursday that its Black Rhino unit had appointed Lamido Sanusi as chairman of its board of directors. Sanusi is emir of Nigeria's northern Kano state, a traditional leader who still wields considerable influence, and the former governor of the country's central bank.

The appointment comes after $310 billion Blackstone announced in August 2014 that it had partnered with Dangote Industries—led by Nigerian billionaire Aliko Dangote—to invest jointly up to $5 billion over the next five years in energy infrastructure projects across Sub-Saharan Africa, part of President Barack Obama's Power Africa initiative to match private capital with continental energy needs.

No projects for the joint venture have been announced, but Blackstone is considering an investment alongside Dangote to construct pipelines to bring gas from the country's energy-rich southern delta region to its business center, Lagos, according to a person familiar with the situation and comments previously made by Dangote. Dangote said he plans to invest up to $2.5 billion in the pipes, which would potentially quadruple the supply of gas to the country.

"Emir Sanusi has a comprehensive mastery of the interdependence of Africa with the global economy," Mimi Alemayehou, chair of Blackstone African Infrastructure and managing director at Black Rhino, said in a statement. "He has the courage and integrity necessary to give us the full, candid and impartial counsel that a long-term investor in Africa needs. We are gratified and, indeed, privileged to have a partner of such immense stature alongside us as we chart our course."

Black Rhino's only announced project so far is a $1.4 billion oil pipeline from sea ports in Djibouti to Ethiopia, a landlocked country that now relies on trucks to bring in fuel
http://www.cnbc.com/id/

I recall Dangote mentioning this pipeline project when he visited Ambode this week. Now we know where the bulk of the funding for the project is coming from.

It is also good that the Emir has agreed not to restrict himself to only palace role.

I was here incase this make front page

Always pray the sanusi prayer
Say father lord may u elevate me above ma enemies that they may bow before me. May u disgrace ma enemies out of office (dem knw dem sefs) may de run helter skelter and start forming sickness(cancer) lols may de watch me frm afar as u make me bigger lols amen o. Rankadade sarki sha zaman ka

zeestunner:
Always pray the sanusi prayer
Say father lord may u elevate me above ma enemies that they may bow before me. May u disgrace ma enemies out of office (dem knw dem sefs) may de run helter skelter and start forming sickness(cancer) lols may de watch me frm afar as u make me bigger lols amen o. Rankadade sarki sha zaman ka

BlackStone is hoping to edge the Chinnese out of Africa especially in direct investments in Energy and infrastructure.

Change!

PPAngel:
The concluded WEF held in Abuja in May, 2014 saw China unveil a $42bn investment over the next 10yrs in the African continent with Nigeria expected to gulp the highest share of over $30bn in direct infrastructural investment, energy sector and manufacturing.


With the emergence of the newly appointed Colonial Governor of the Royal Niger Company aka Nigeria, expect to see Buhari cancel outrightly all Chinnese direct investments in preference to western loans from the IMF, World Bank and Paris Club.

Off course, all the newly borrowed money will be diverted with nothing on ground to show for it but debt for the next 40years.

Change Change Change!

Your slavery is imminent!

They know the worth of those brains

freezone4real:
They know the worth of those brains

They know how to pick the men who will sell you into poverty