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Dangote tasks Nigeria to transit to knowledge-based economy

Kano, March 3, 2024:  Alhaji Aliko Dangote,  Africa’s richest man and Chief Executive Officer of Dangote Group,  has tasked Nigeria to move from resource-based economy to knowledge-based economic system.

Dangote made the recommendation in a pre-convocation lecture delivered as part of activities lined up for the 38th convocation of the Bayero University, Kano (BUK).

“Given the tremendous benefits that knowledge economy offers, it is vital that Nigeria makes the transition to knowledge-based economy.

“Countries like South Korea, India, China, and the Asian tigers at one time or the other took the decision to institutionalise knowledge economy and are today reaping the benefits.

“Ismail Radwan and Giulia Pellegrini in a World Bank publication, stated that harnessing knowledge for development is not a new concept as it has always been central to development and can mean the difference between poverty and wealth.

“They argued that knowledge economy is not just about establishing high-tech industries and creating an innovative and entrepreneurial culture.

“Simply adopting existing technologies widely available in developed countries can dramatically boost productivity and economic growth,” he said.

He was represented by the Group Executive Director of the Dangote conglomerate, Mansur Ahmed.

Dangote quoted the World Bank as stating that for Nigeria to make the transition to knowledge economy, it must pay attention to the business environment, education and skills, innovation systems and information communication infrastructure.

He said Nigeria needed a conducive business environment that provided incentive for the efficient use of existing knowledge.

“There are many government research institutions and the existing knowledge gathered over the years can be put into use by firms.

“Agricultural research institutes have produced new varieties of seeds, legumes and others that are being cultivated in small quantities

in their demonstration farms.

” This is where the government should come in with incentives for firms that would make use of these new varieties.”

Government may decide to embark on phasing out of older low yielding specie of crops and provide incentives for those willing to plant the new ones in terms of subsidies, free fertiliser, and technical help from agriculture extension officers.

“Government through its agencies can help in insisting that firms and businesses apply existing knowledge in their operations.

” Nigerian government demonstrated this capacity in the auction and licencing of GSM operators. That singular move brought rapid changes to the communications sector and created millions of direct and indirect jobs.

“It also resulted in the transfer of existing technologies to Nigeria as the winners of the bids brought requisite skills and technologies to build their networks.

“Nigerian youths that are passionate about new technologies should be encouraged and supported to exploit their natural talents by expanding entrepreneurship facilities and hubs.

“There should be reforms in our educational system with more emphasis on skill development than paper qualification.

” Innovators, founders of businesses and creators should be invited to speak,” Dangote said.

Dignitaries who attended the pre-convocation lecture included the Deputy President of the Senate, Barau Jibrin and the Vice Chancellor of the University, Prof. Sagir Abbas.

More than 11,000 graduating students will receive degrees, while two distinguished personalities – the President of African Development Bank, Dr. Akinwunmi Adesina, and Sen Barau Jibrin, will be awarded honorary doctorate degrees at the Convocation on Saturday.

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Dangote Refinery registers distributors

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Lagos, Jan. 20, 2024: The management of Dangote Petroleum Refinery has commenced registration of distributors for its products, a statement by the outfit said on Friday in Lagos.

According to the statement, members of three prominent associations that constitute 75 per cent of the total market in Nigeria have been registered.

The associations are Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Independent Petroleum Marketers Association of Nigeria (IPMAN), and Major Oil Marketers Association of Nigeria (MOMAN).

The company is also considering other marketers that have signified interest in the lifting and distribution of its petroleum products in the country, the statement said.

It quoted the Executive Secretary, DAPPMAN, Mr Olufemi Adewole, as saying that the association had commenced discussions with Dangote Petroleum Refinery regarding the lifting and distribution of refined petroleum products.

DAPPMAN, it said, had discussed with Dangote last year during a meeting between its Chairman, Dame Winifred Akpani, 2nd Vice Chairman, Alhaji Mahmud Tukur and the President of Dangote Group, Aliko Dangote.

“The meeting was to explore areas of collaboration between the refinery and DAPPMAN members whose nationwide presence will be critical in distributing products from the refinery to the consumers,” it said.

It added that the refining of petroleum products from Dangote Refinery would accelerate Nigeria’s economic development and provide DAPPMAN members with seamless access to refined petroleum products.

In the same vein, National Vice President of IPMAN, Alhaji Hammed Fasola, said the association had declared its intention to lift and distribute petroleum products from Dangote Refinery.

“We have already established a business relationship with Dangote Refinery. We believe that the relationship is going to be a win-win one.

“Our association owns 80 per cent of the retail outlets in the country and we have all it takes to ensure smooth distribution of petroleum products from Dangote Refinery across the country,” the statement quoted Fasola as saying.

On his part, the Executive Secretary of MOMAN, Clement Isong, confirmed that members had registered with Dangote Petroleum Refinery to become marketers of its products.

“I confirm that my members have registered with them. We were waiting for the production to start and now it has started; we shall soon start discussing the terms,” Isong was quoted as saying.

The statement said that the refinery was designed for 100 per cent Nigerian crude, with the flexibility to process other crudes.

It said that the refinery could load 2,900 trucks a day at its truck-loading gantries.

Aliko-Dangote

Dangote unhappy over EFCC’s embarrassment over Forex

For a week, operatives of the Economic and Financial Crimes Commission (EFCC) laid seize on headquarters of Dangote Industries Limited despite the unalloyed cooperation with the anti-corruption agency.

The company which in a statement said it had complied with the requirements of EFCC concerning foreign exchange allocations by the Central Bank of Nigeria (CBN), said the operatives inundated its headquarters, an action it considers as embarrassing.

While pledging it was ready to assist the Commission in its investigations, the indigenous conglomerate in a statement disclosed that it received a letter from the EFCC on December 6, 2023, requesting details of all the foreign exchange allocated to it by the Central Bank of Nigeria from 2014 to the present.

Describing the request from EFCC as not being peculiar to Dangote Group, the Company management said, “We understand similar letters were sent to 51 other Groups of companies requesting for same information spanning the same period.”

Dangote Group explained that it responded to the EFCC to acknowledge receipt of the letter whilst seeking clarification on the subsidiaries or companies within the Group that they required information on. It also requested additional time to compile and properly present the extensive documentation spanning ten years.

EFCC visits Dangote Group headquarters, probes forex allocations

“However, the EFCC did not provide the clarification sought and did not honour the request for an extension, and insisted on receiving the complete set of documents within the limited timeframe.

The management of Dangote Group stated that “despite this constraint, we assured the EFCC of our commitment to providing the information and pledged to share documents in batches as we complete the compilation.”

According to Dangote Group, “On 4 January 2024, our team delivered the first batch of documents to the EFCC. However, officers of the EFCC did not accept the documents, insisting on visiting our offices to collect the same set of documents directly.

“Whilst our representatives were still at the EFCC’s office to deliver the documents, a team of their officers proceeded to visit our offices to demand the same documents in a manner that appeared designed to cause us unwarranted embarrassment.

Worthy of note is the fact that the officials did not take any documents or files from our Head office during their visit as these were already in their office.

“We must emphasize that, to our knowledge, no accusations of wrongdoing have been made against any company within our Group. At present, we are only responding to a request for information to assist the EFCC with their ongoing investigation.”

Stating its resolve to continue to play its key role in stimulating the domestic economy, Dangote Group declared, “as a law-abiding and ethical corporate citizen, we remain committed to providing the EFCC with all necessary information and cooperation.

We have already delivered the first batch of documents and are actively working to compile and submit the remaining documents, in good time, to aid their investigation.

“Our Group is a key contributor to the national GDP, the largest employer in the private sector, one of the largest groups listed on the Nigerian Exchange, and one of the highest taxpayers in the country.

We remain steadfast in our belief in Nigeria’s commitment to the rule of law and its dedication to fostering an environment conducive to investment and value creation for both local and foreign investors.”

The Company then called for the understanding and patience of all stakeholders and promised to inform them of any further developments.

Daily Trust reports that the EFCC has widened its investigations into the foreign exchange transactions during the tenure of former governor of the Central Bank of Nigeria, CBN, Godwin Emefiele.

The investigation, Daily Trust learnt, also included other top companies which got forex at the official rate from the CBN.  All the companies including BUA Group and Flour Mills have all denied any wrongdoings in their communication to the anti-graft agency

For a week, operatives of the Economic and Financial Crimes Commission (EFCC) laid seize on headquarters of Dangote Industries Limited despite the unalloyed cooperation with the anti-corruption agency.

The company which in a statement said it had complied with the requirements of EFCC concerning foreign exchange allocations by the Central Bank of Nigeria (CBN), said the operatives inundated its headquarters, an action it considers as embarrassing.

While pledging it was ready to assist the Commission in its investigations, the indigenous conglomerate in a statement disclosed that it received a letter from the EFCC on December 6, 2023, requesting details of all the foreign exchange allocated to it by the Central Bank of Nigeria from 2014 to the present.

Describing the request from EFCC as not being peculiar to Dangote Group, the Company management said, “We understand similar letters were sent to 51 other Groups of companies requesting for same information spanning the same period.”

Dangote Group explained that it responded to the EFCC to acknowledge receipt of the letter whilst seeking clarification on the subsidiaries or companies within the Group that they required information on. It also requested additional time to compile and properly present the extensive documentation spanning ten years.

EFCC visits Dangote Group headquarters, probes forex allocations

“However, the EFCC did not provide the clarification sought and did not honour the request for an extension, and insisted on receiving the complete set of documents within the limited timeframe.

The management of Dangote Group stated that “despite this constraint, we assured the EFCC of our commitment to providing the information and pledged to share documents in batches as we complete the compilation.”

According to Dangote Group, “On 4 January 2024, our team delivered the first batch of documents to the EFCC. However, officers of the EFCC did not accept the documents, insisting on visiting our offices to collect the same set of documents directly.

“Whilst our representatives were still at the EFCC’s office to deliver the documents, a team of their officers proceeded to visit our offices to demand the same documents in a manner that appeared designed to cause us unwarranted embarrassment.

Worthy of note is the fact that the officials did not take any documents or files from our Head office during their visit as these were already in their office.

“We must emphasize that, to our knowledge, no accusations of wrongdoing have been made against any company within our Group. At present, we are only responding to a request for information to assist the EFCC with their ongoing investigation.”

Stating its resolve to continue to play its key role in stimulating the domestic economy, Dangote Group declared, “as a law-abiding and ethical corporate citizen, we remain committed to providing the EFCC with all necessary information and cooperation.

We have already delivered the first batch of documents and are actively working to compile and submit the remaining documents, in good time, to aid their investigation.

“Our Group is a key contributor to the national GDP, the largest employer in the private sector, one of the largest groups listed on the Nigerian Exchange, and one of the highest taxpayers in the country.

We remain steadfast in our belief in Nigeria’s commitment to the rule of law and its dedication to fostering an environment conducive to investment and value creation for both local and foreign investors.”

The Company then called for the understanding and patience of all stakeholders and promised to inform them of any further developments.

Daily Trust reports that the EFCC has widened its investigations into the foreign exchange transactions during the tenure of former governor of the Central Bank of Nigeria, CBN, Godwin Emefiele.

The investigation, Daily Trust learnt, also included other top companies which got forex at the official rate from the CBN.  All the companies including BUA Group and Flour Mills have all denied any wrongdoings in their communication to the anti-graft agency

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Dangote refinery confirms receiving crude oil to start production

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The Dangote refinery has confirmed it received its first shipment of 1 million barrels of crude oil, marking a major milestone for the facility and bringing it closer to full operation.

This initial cargo, sourced from Shell International Trading and Shipping Co (STASCO), signifies a significant step forward for the refinery, which aims to transform Nigeria into a net exporter of fuels.

“The STASCO cargo arrived on a chartered vessel and was discharged into the refinery’s crude oil tanks,” Reuters reported, quoting an unnamed spokesperson for Dangote Group.

The refinery, which is Africa’s largest, has been under construction for several years and has faced numerous delays. However, with the arrival of the first cargo of crude oil, the project appears to be finally on track to begin production.

The arrival of the Agbami crude, sourced from a deep-water field operated by Chevron, paves the way for the initial run of the refinery, expected to produce diesel, aviation fuel, and Liquefied Petroleum Gas (LPG). Production of Premium Motor Spirit will follow at a later stage.

“This is a major milestone for us,” said Aliko Dangote, president and CEO of Dangote Group, in a statement.

“We are excited to finally be receiving crude oil and starting the process of refining it into products that will benefit Nigerians across the country.”

Once fully operational, the refinery is expected to significantly reduce Nigeria’s reliance on imported fuels, saving the country billions of dollars each year.

The project has been hailed as a major boost for the Nigerian economy and is expected to create thousands of jobs. It is also seen as a major step forward for Africa’s energy sector.

A total of 6 million barrels of crude will be provided in the coming weeks, with NNPC delivering four cargoes and ExxonMobil supplying the final one. This collaboration is crucial for the refinery’s initial run and subsequent ramp-up to full capacity.

Nigeria’s reliance on fuel imports has long been a source of frustration, despite its status as Africa’s biggest oil producer. The country spent a staggering $23.3 billion on petroleum product imports last year alone, highlighting the urgent need for domestic refining capacity, Reuters reported.

The Dangote refinery, with its 650,000 barrel-per-day capacity, promises to address this issue and unlock a new era of fuel self-sufficiency for Nigeria.

The $19 billion project, funded by Africa’s richest man Aliko Dangote, represents one of the largest single investments in Nigeria’s history and is expected to significantly impact the country’s economy.

“Our focus over the coming months is to ramp up the refinery to its full capacity,” stated Dangote, expressing his confidence in the project’s success.

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Dangote Cement reacts to allegation of profiteering

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Following the flurry of allegations that Dangote Cement was profiteering and extorting Nigerian consumers, the management of the company has formally denied the allegations.

Nigerians have taken to the social media lampooning the company of selling its products at exorbitant prices in the country where it sourced all its raw materials and selling at affordable prices in neighbouring countries.

The Dangote Cement Plc on Monday clarified that the price of a bag of cement from its factories across Nigeria (as at 28th August 2023) is N4,010 in Okpella and N4,640 in Ibese, Obajana, and Gboko.

Including transportation cost and the location of delivery, the management explained that prices could range between N5,000 to N5,300 per bag.

Dangote Cement Plc made the clarification in a statement on Monday.

The company said the clarification was made in view of recent misinformation that the Company sells cement in Nigeria at significantly higher prices relative to other countries, particularly the Republic of Benin, and other neighbouring countries.

Dangote Cement’s Group Managing Director, Mr Arvind Pathak, advised that it is important to distinguish Dangote Cement’s ex-factory prices from prices at which retailers sell cement in the market.

” Our checks in Cotonou, the commercial capital of the Republic of Benin, indicate that cement sells between CFA 3,495 and CFA 4,500, which at the current exchange rate of CFA 1: NGN 1.43 is between N4,997 to N6,435 per bag as against the malicious falsehood of N1,500 per bag circulating on social media,” the statement said.

Pathak said that Dangote Cement Plc is focused on delivering quality cement at the best price possible, despite the current inflationary environment.

“We continue to innovate ways to deliver quality products to millions of our customers across Africa, while providing top-notch customer services.

“At Dangote Cement we are committed to building an inclusive and sustainable business for all stakeholders across the value chain,” the Group Managing Director explained.

DANGOTE-GROUP

Dangote, Niger state partner on investment opportunities

Minna, July 24, 2023: The Dangote Industries Limited (DIL) and the Niger State Government are strengthening ties towards exploring fresh investment opportunities in the State.

Mr Mansur Ahmed, Dangote Group’s Executive Director, Government and Strategic Relations, stated during Dangote Special Day at the 20th Niger State National Trade Fair in Minna.

H said that Niger State was central to the company’s overall investment plan in the agricultural sub-sector.

He said the Dangote rice mill earlier planned for Wushishi was being moved to Badeggi where there is enough water supply conducive for rice farming and business.

He also announced the company’s preparedness to partner with the state government in the educational sector.

Ahmed said that given the land size, fertile topography and friendly business atmosphere, DIL was passionate about adding value to activities of the Chamber and businesses in the state.

Gov. Mohammed Bago expressed delight for DIL investment in the agricultural and educational sectors, adding that the new government would created an enabling environment for businesses to thrive in the state.

Bago, who was represented by the Permanent Secretary, Public Service Department of the state’s Head of Service, Mr Abubakar Sadiq, urged the Dangote Group to leverage on the renewed business opportunities in the state.

He said the new administration would build a viable economy driven by private sector participants.

“The state will leverage on Agro industrial value chains to provide critical infrastructure for the development of high-quality products for local consumption and export.”

He commended Niger Chamber of Commerce, Industries, Mines and Agriculture (NCCIMA) for the annual event to promote trade, investment, and entrepreneurship.

Speaking, the President NCCIMA, Dr Bisi Adeniyi, commended the company for sponsoring the on-going Trade Fair themed “Public-Private Partnership: A Panacea for Nigerian Economic Growth.”

Bisi urged DIL and other investors to key into the International Trade Fair being planned by NCCIMA to move research in tertiary institutions in the state forward.

The participating companies under DIL include Dangote cement, Dangote sugar, Dangote salt and seasonings and Dangote Fertiliser,

Bisi noted that the State recognizes the private sector as a partner and engine for economic growth.

Eulogizing the Dangote Group for its business acumen, former President of the Chamber Mr. Umar Ahmed Bakai described the Dangote Group as a worthy partner.

He added that the relationship he pioneered was bearing fruits for the people of the State and Nigeria as a whole.

Dangote wants North to invest more in agriculture

Dangote, others bag Afreximbank’s awards

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Abuja, June 20, 2023: Aliko Dangote, Chairman and Chief Executive Officer of Dangote Group has won the Afreximbank Founder of the Year Award at the Pan-African Business and Development Awards.

A statement issued by Brandcomms Agency in Abuja on Tuesday said the inaugural award ceremony was held in Accra, Ghana at the 30th Anniversary of Afreximbank.

The statement said the awards was hosted by Afreximbank in association with the Business Council for Africa (BCA) and organised in collaboration with IC Publications and Brand Communications.

It said Dangote bagged the award in recognition of his extraordinary achievements in building one of Africa’s leading industrial groups with a truly pan-African footprint.

“This comes on the back of the recent official opening of his 19 billion dollar petrochemicals plant and Africa’s largest refinery, which received substantial support from Afreximbank.”

The statement said Ethiopian Airlines, which distributed critical medical equipment and vaccines across the continent during COVID-19 pandemic, won the Pan-African Business of the Year Award.

“Ethiopian Airlines, a profitable and well-run airline that rose to the challenge of COVID-19, working alongside Afreximbank and the Africa Centre for Disease Control to distribute critical medical equipment and vaccines across the continent.”

It said Zimbabwean, Strive Masiyiwa and Togolese, Koffi Gervais Djondo, received Special Recognition awards for their outstanding contribution to the transformation of African business and industry.

“Masiyiwa is the founder of Liquid Intelligent Technologies, which has the

the largest network of fibre optic cables on the continent, Cassava Technologies, and Econet, the largest telecoms and mobile payment operator in Zimbabwe.

“Djondo helped found Ecobank, the leading African group in terms of footprint, as well as regional airline Asky.”

It said MTN and Elsewedy Electrical were recognised for their pan-African achievements while National Bank of Egypt, First Bank of Nigeria, and Coris Bank were recognised for their contribution towards trade finance.

According to the statement, MTN was recognised for transforming the African telecoms sector and ElSewedy for its role in the African infrastructure sector.

“ElSewedy and Afreximbank have built a strong relationship that has seen its group become a true continental champion.

“ElSewedy is also part of a consortium of African banks and private sector companies that are building the multi-billion dollar Julius Nyerere Hydropower Project in Tanzania.”

The statement said eight recognition awards were given to some staff members of Afreximbank to acknowledge their long service at the bank.

It said among them included Prof. Benedict Oramah, President and Chairman of the Board, Afreximbank, who has been at the bank for over 29 years.

The statement quoted Oramah as saying, “tonight we are recognising so many

outstanding leaders.

“Having joined the Bank in 1994, I have been fortunate to have worked with so many of them, and to have seen them grow. We have supported them during this journey and they have helped make the bank what it is today.

“These are the mutual beneficial partnerships that will help transform the continent we so love.

He said at Afreximbank, contributing to Africa’s development was a lifetime vocation, as he knew it was the same for those that the bank had recognised.

Arnold Ekpe, Chair of the BCA and former Group CEO of Ecobank, said that most times  business leaders do not get the praise they deserve.

“Succeeding in business on the continent is not always easy, but it is rewarding, and more importantly it is possible to build strong, profitable businesses that are globally competitive. Our winners tonight have demonstrated this.”

The statement said the awards were designed to celebrate and recognise the excellence of outstanding organisations and individuals within the African business and finance sectors.

Dangote-Refinery

Decades after oil exploration, Nigeria gets first private Petroleum Refinery, Petrochemicals

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Mohammed Momoh

Abuja, May 22, 2023

The first privately owned 650,000 barrels per day refinery and petrochemical plant since 1956 when Nigeria started commercialising oil and gas, has been commissioned in Lekki Free Zone of Lagos.

The inauguration of the Dangote Petroleum Refinery and Petrochemicals, a significant mile stone in the oil and gas industry was attended by five African Presidents of Senegal, Ghana, Togo, Chad, Nigeria.

The occasion on Monday, May 22, 2023 had been long awaited as the last hope of Nigerians who have suffered untold hardship in accessing and using petroleum products in a country which is world sixth highest producer of oil.

The journey leading to the realisation of today’s dream started in 2013 when Africa’s richest businessman, Aliko Dangote, conceived the project estimated to cost $9 billion.

Ups and downs, innovations and expansion drove the cost of the project to a staggering $18.5 billion and with uncertainty enveloping the completion date..

The President of Dangote Group, Mr Aliko Dangote, had on May 29, 2022, assured that production would start before the end of 2022 and that the facility would help Nigeria to tackle the lingering issue of petroleum products’ importation and scarcity as well as expose Nigeria’s midstream and downstream sectors to the international markets.

Dangote, at the 2022 Nigerian Content Midstream and Downstream Oil and Gas Summit in Lagos, described the refinery as an investment that would transform the economies of countries in sub-Saharan Africa.

“It makes me feel terrible to see a country as big and resourceful as Nigeria with high population, importing all its petroleum products, so, we decided it is time to tackle this challenge.

“It is not government’s responsibility alone to address the challenge of petroleum products’ importation in Nigeria. No, we have to collaborate with the government to tackle the issue of petroleum importation.’’

Dangote emphasised the need for the country to shift attention from crude oil export and diversify the economy.

“We should not as a country,  be comfortable with generating revenue from crude oil export alone, because tomorrow, people may not need crude oil.

“If we do not move from crude oil to something else, we will have issues as a country. This is one of the things that I took upon myself to help address,” he said.

The refinery will be able to supply all the gasoline, diesel and aviation fuel used in the West African country and a third of its output will still be available for export, Dangote said.

Also, Mr Devakumar Edwin, the Group Executive Director of Dangote Industires, confirmed the $18.5 billion cost of the firm when completed and that the petrochemical project houses the world’s biggest ammonia plant, which had started producing fertiliser.

He said the state-owned Nigeria National Petroleum Company (NNPC), a facilitator of exploration and exploitation of oil and gas, has acquired 20 percent stake in the refinery that is worth $2.7 billion.

The Managing Director of NNPC, Mr Mele Kyari, in July 2022 confirmed that the corporation had paid an initial amount of $1 billion for the ordinary shares it acquired in the refinery

Kyari said the investment in the refinery will guarantee energy security for Nigeria.

With Dangote Refinery in place, coupled with planned completion of the rehabilitation of the moribund Port Harcourt, Warri and Kaduna refineries by the end of 2023, Nigeria would become a hub of petroleum products in Africa.

He explained that the rehabilitation of the state-owned refineries in Kaduna, Warri and Port Harcourt was ongoing, saying: “We have been trying to fix our refineries. We have awarded the contracts.’’

 “We as a national oil company, has the responsibility to ensure energy security for this country and the meaning of this is that you must secure the supply sources.

“That means that with the NNPC’s refineries in place and Dangote Refineries operating along with other initiatives that we are making, we are going to have a massive hub of petroleum production in West Africa.

“This will change the flow of product supply in the whole globe and scarcity will be history in Nigeria,” he assured.

Restive Nigerians cannot wait to see production kick off in the Dangote plant which they believe would halt the suffering of the nation, especially motorists, households and the aviation sector as well as the ease it will bring to available foreign exchange.

Aviation minister Hadi Sirika on August 2, 2022 assured Nigerians that the Dangote refinery and other state owned refineries under rehabilitation will help end the scarcity of petrol and aviation fuel.

“By the grace of God, perhaps once the Dangote refinery is on line or if the government fixes its refinery — which is now ongoing — we will begin to refine this product and sell it.”

Minister of State for Petroleum, Mr Timipre Sylva, also confirmed the Turnaround Maintenance (TAM) of the state refineries to ensure local refining of petroleum products, in addition to the acquisition of stakes in the Dangote refinery.

A statement by Mr Horatius Egua, Senior Adviser, Media & Communications, to the Minister on August 3, 2022, said: “Nigerians have grappled with fuel scarcity for long. Let me once again appeal to Nigerians to be patient with government in finding lasting solutions to the crisis.

“Let us as Nigerians stand shoulder to shoulder in our shared quest for a greater country.”

A human rights activist, Mr Adeleye Osunde, sees the new order in the petroleum industry as a relief but warned that the local production should not translate to additional burden to consumers.

“The locally produced petroleum products should be within the reach of every Nigerians. The sale of crude to these refineries should not be denominated in dollars, because the crude oil is taken from Nigerian soil and Nigerians should reap the benefits,’’ he said.

Mr Yusuf Ahmed, a commercial motorist, doubts if the scarcity of petrol will be over even with the coming to stream of Dangote refinery and other refineries.

“I fear that Nigeria will come up with other excuses to deny is citizens of the comfort of their God given natural resources.’’

Aside the problem of importation and shortage of foreign exchange needed to pay for import, he said that the activities of unions and operators in the petroleum chain should be checked.

Many of the unions, especially transporters of petroleum products, are a big pain in the process, and explained: “They go on strike at will and I hope that now that petrol sector has been deregulated and in private hands, these extraneous factors will be checked.’’

The petroleum distribution chain should be simplified and short, Mr Aliyu Ahmed, a logistic officer of the National Association of Petroleum Product Marketers, advised.

“If this is not streamlined and made short, I fear that the supply bottlenecks and scarcity will persist,’’ he warned.

However, Information and Culture minister Lai Mohammed had also described the refinery as a game changer in Nigeria’s energy challenge once it comes on stream.

The minister who led a team of journalists on inspection tour of the refinery said the facility will engender huge value addition that would contribute to the increase in Gross Domestic Product (GDP)

“It will conserve foreign exchange by putting an end to importation of petroleum products and huge sum paid for subsidy and in addition, create employment and generate foreign exchange through export of finished products.’’

There is no doubt that this venture will create more employment opportunities for Nigeria’s teeming population.

It has been herculean as many Nigerians and motorists have in many instance gone through harrowing experience of scarcity of petroleum products.

Thy virtually slept at fuel stations as persistent scarcity occurs in country that is world’s sixth largest oil producer.

Motorists, especially commercial drivers, spend the larger parts of their days in long and unending queues in few filling stations where petrol is dispensed while some rich people patronise black markets that have taken over roadsides in major cities.

Motorists who patronise black marketers pay at least 150 percent more than the pump price of N195 ($0.45 cent) per litre but unsure of the quality of the liquid served them by these roadside sellers.

Some motorists have reported their vehicles developing faults after using the adulterated petrol bought from these black market operators who have taken over the business from petrol stations.

Scarcity and high cost of aviation or jet fuel have spark increase in flight fares as well as truncating smooth aviation operations.

Many households have abandoned the use of kerosene for cooking and were back to wood fuel which environmentalists have condemned as a threat to ecosystem and depletion of forest resources.

Dr Ahmed Rilwan, an environmentalist, said: “When we think we are moving forward, we are actually moving backward. Trees felling has increased again and it is not good enough.’’

“Trees felling to produce wood fuel is a danger to the environment. I believe that with the Dangote refinery, kerosene will be back in homes.’’

The Nigerian National Petroleum Corporation (NNPC), yesterday, assured Nigerians that the importation of petroleum products into the country would soon be over.

Group Managing Director (GMD) of NNPC, Mallam Mele Kyari, said at the recently concluded public hearing on the Medium Term Expenditure Framework (MTEF) organised by the House Committee on Finance in Abuja.

He said once the Dangote refinery was is completed, the importation of petroleum products into the country would be over.

 “Once completed, the refinery will not be under any obligation to buy crude oil from Nigeria but any other country of its choice. So, it is important we invest there, so as to have stakes and a ready market for our crude oil,” he said

According to Kyari, the direct sale of crude oil to the refinery will reduce export and importation costs and generate employment for many people in the country.

The Chief Executive Officer of Major Oil Marketers Association of Nigeria (MOMAN), says the refinery will contribute significantly to the growth of the economy through its own production and also from ancillary industries.

Mr Clement Isong, expressed confidence in the refinery on Sunday in Lagos and expressed optimism that the facility will help reduce the cost of petrol, if the government deregulates the commodity.

” All Nigerians look forward to the future with hope and conviction that this refinery will contribute significantly to the growth of the economy through its own production and also from ancillary industries.

“The fertiliser plant will impact our agriculture, providing indirect opportunities for the West African sub-region.

“The high-quality petroleum products, which meet Afri 6 standards, are excellent for health and environmental protection,” he said.

Isong said that “more importantly, the size and location of the refinery will help manage price volatility, which is probably more important than the price itself.

” It will also help in optimising logistics costs.

 “l have no doubts that such a massive undertaking would have properly planned for efficiency in product evacuation and optimisation.

“Competition, free markets, and private sector participation lead on its own to market efficiencies. Other refineries in the country will have to compete, and this is good for the consumer as well as the economy.

“Compete in price, compete in product quality, compete in customer service delivery,” Isong added.

Data in a document obtained from the company showed that the Dangote Refinery could support the establishment of 26,716 fillings stations, create 100,000 direct and indirect jobs, and provide a $21bn market for Nigerian crude oil annually.

The Dangote Petroleum Refinery and Petrochemical Project, a subsidiary of Dangote Group will produce Euro-V quality gasoline and diesel, as well as jet fuel and polypropylene.

The facility was “designed to process a large variety of crudes including many of the African crudes, some of the Middle Eastern crudes and the US (United States) Light Tight Oil.

On the target market and petroleum sufficiency, it stated that the refinery could meet 100 per cent of the Nigerian requirement of all liquid products, including gasoline (petrol), diesel, kerosene and aviation jet, and would also have a surplus of each of these products for export.

The Dangote Group has released 19 facts about the Dangote Petroleum Refinery and Petrochemicals refinery that everyone should know.

In a bullet format released on May 22, 2023, Dangote Group state as follows:

1. It is located in Ibeju, Lagos, Covering a land area of approximately 2,635 hectares.

2. World’s Largest Single-Train 650,000 barrels per day Petroleum Refinery with 900 KTPA Polypropylene Plant.

3. The Refinery is powered by a 435 MW Power Plant.

4. At full capacity, it can meet 100% of the Nigerian requirement of all refined products and also have surplus for export.

5. Designed for 100% Nigerian Crude with flexibility to process other crudes.

6. Self-sufficient marine facility with ability for freight optimisation. Largest single order of 5 SPMs anywhere in the world.

7. Diesel & gasoline from the refinery will conform to Euro V specifications.

8. The refinery design complies with World Bank, US EPA, European emission norms and Department of Petroleum Resources (DPR) emission/effluent norms.

9. It incorporates state-of-the-art technology.

10. It is designed to process large variety of crudes including many of the African Crudes, some of the Middle Eastern Crudes and the US Light Tight Oil.

11. About 65 million cubic metres of sand dredged, costing approximately €300 million, using the world’s largest dredgers.

12. Over 1,200 units of various equipment were bought to enhance the local capacity for site works.

13. Dangote Group bought 332 cranes to build up equipment installation capacity.

14. Also built is the world’s largest granite quarry to supply coarse aggregate, stone column material, stone base, stone dust & material for break water (10 million tonnes per year production capacity).

15. In a bid to bring over dimensional cargoes close to the site directly, Dangote Group had to developed a port and constructed two quays with a load bearing capacity of 25 tonnes/sq metre.

16. Constructed two more quays in the port with a capacity to handle up to Panamax vessels to export, two quays to handle liquid cargoes.

17. The port will have 6 quays, including a roll-on/roll-off quay.

18. In the course of the civil works, 700 piles were drilled on some days, with total number of piles up to 250,000.

19. It has 177 tanks of 4.742 billion litres capacity

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Dangote Refinery succour to nation – NECA

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The Nigeria Employers” Consultative Association (NECA) said the planned inauguration of Dangote Refinery was a succour to a nation in dire need of industrial renaissance.

The Director-General,  Mr Adewale-Smatt Oyerinde, made this known in a statement on Thursday in Lagos.

“With the petroleum refinery and petrochemical plant as well as the fertilizer plant housed in Nigeria, it invariably implies that there would be no more importation of petroleum products.

“Rather, there will be export of finished products, availability of petroleum products, thus, putting an end to long queues and scarcity of petroleum products.

“A significant plus of this feat will be the attraction of foreign capital investments that the country desperately needs, “ he said.

The NECA boss said also, that the multiplier effect of its target 135,000 direct and indirect jobs for Nigerians and displacement of plastics imports in the fiscal space were a part of the economic springboard the refinery brought to the Nigerian economy.

He said, in addition, that it would lead to skills transfer and technology acquisition opportunities with beneficial impacts on the downstream sector.

“This refinery in a sum, is one edifice that will turbo-charge the engine of the Nigerian economy.

“It will also unstrap the strings holding the development of the economy and wade off external and domestic headwinds against efficacies of fiscal and monetary instruments, “ he said.

Oyerinde said also that the refinery, 100 per cent of Nigeria’s consumption of all liquid products and 60 per cent of the production capacity could meet the entire consumption needs of the country.

He said that the other 40 per cent would be exported, generating a huge amount of foreign exchange.

According to him, this in no small measure, will impact positively on the country’s balance of payment.

“We call on government and other stakeholders to pay more attention to creating an enabling environment for organised businesses to thrive so that we have more private sector investment to reengineer the nation’s economy, “ Oyerinde said.

Aliko-Dangote

Buhari salutes Dangote at 66

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President Muhammadu Buhari has saluted leading businessman and philanthropist, Aliko Dangote, as he marks his 66th birthday, wishing him a long, healthy life and a joyful year ahead.

The president, in a congratulatory message by his media aide, Malam Garba Shehu, on Monday in Abuja, commended Dangote for his numerous efforts towards nation’s progress.

“Hearty congratulations and best wishes to the illustrious businessman Aliko Dangote on his birthday.

”He has given new heights to Nigeria’s prestige and global reputation.

”May the Almighty give him the strength and wisdom to do even more for the nation,” he said.

Aliko Dangote, GCON  was born 10 April 1957, a Nigerian business magnate who is the founder, chairman, and CEO of the Dangote Group, the largest industrial conglomerate in West Africa.

 According to Bloomberg Billionaires Index, Dangote’s net worth is estimated at US$19.9 billion as of April 2023, making him the richest person in Africa and richest black person and 83rd in the world.

Dangote was born in Kano, Kano State into a wealthy Hausa Muslim family.

Dangote’s mother, Mariya Sanusi Dantata, was the daughter of businessman Sanusi Dantata and his father, Mohammed Dangote, was a business associate of Sanusi Dantata.

Dangote was educated at the Sheikh Ali Kumasi Madrasa, followed by Capital High School, Kano. In 1978, he graduated from the Government College, Birnin Kudu.

 He received a bachelor’s degree in business studies and administration from Al-Azhar University, Cairo.

The Dangote Group was established as a small trading firm in 1977, the same year Dangote relocated to Lagos to expand the company.

Dangote received a ₦500,000 loan from his uncle to begin trading in commodities including bagged cement as well as agricultural goods like rice and sugar.

In the 1990s, he approached the Central Bank of Nigeria with the idea that it would be cheaper for the bank to allow his transport company to manage their fleet of staff buses, a proposal that was also approved.

Today, the Dangote Group is one of the largest conglomerates in Africa, with international operations in Benin, Ghana, Zambia and Togo. The

Dangote Group has moved from being a trading company to be the largest industrial group in Nigeria, encompassing divisions like Dangote Sugar Refinery, Dangote Cement, and Dangote Flour and Dangote Refinery.

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