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Dangote Refinery to Reduce Africa’s Petroleum Importation by 36%, says APPO

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African Petroleum Producers Organisation (APPO) has said that the establishment of Dangote Oil Refinery will bring about a 36 per cent reduction in the importation of petroleum productions into the continent.

Besides, the organisation expressed a belief that the success of Dangote Refinery project could incentivise the rise of similar projects across Africa despite the current focus on energy transition.

The Secretary-General, African Petroleum Producers Organisation, Dr. Omar Farouk Ibrahim, said in an interview that Dangote Refinery shall be supplying over 12% of Africa’s products demand when it becomes operational.

Ibrahim stated, “To appreciate the impact that the Dangote refinery is going to have on African economies and especially on the supply of petroleum products, and to some extent the conservation of scarce foreign exchange, a look at some statistics on the continent’s petroleum products demand and supply is in order.

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“Currently, Africa’s daily petroleum demand is 4.3 million barrels per day (mbd). Of this volume, 57% is produced locally (on the continent) while 43% is imported. When Dangote is fully onstream, the percentage of Africa’s products import shall drop to 36%. This is even as the total volume of products demand rises to 5.4 mbd. You can therefore see the huge impact that Dangote refinery shall be making to overall products supply in Africa. Dangote shall be supplying over 12% of Africa’s products demand.

“That is huge savings for a continent that has scarce foreign exchange and little to export. We shall save from buying abroad and from shipping and insurance costs. Furthermore, the success of Dangote could incentivise the rise of similar projects, the noise about energy transition notwithstanding,” oil analyst noted.

Ibrahim also hailed Dangote’s decision to go ahead with the construction of crude oil refinery despite a campaign against fossil fuels, adding that the demand for fossil fuel is going to continue for several decades to come.

“We believe that Dangote made a very wise decision to proceed with the project, despite the campaign against fossil fuels. There will be demand for petroleum products for many decades to come. Indeed, we see petroleum products prices rising steadily in the next few years for at least two decades.

“This is because new refineries are not coming up in Europe and North America, where Africa imports 34% of its supplies, because their governments have embraced energy transition, some willingly, others due to pressure. So, some of the sources of Africa’s imports are going to dry up. At the same time, Africa will not be in a position to fast track the development of non-fossil fuels.

“In fact, even the developed countries will not be able to move as fast as is projected. We see Africa and many regions of the world continuing to rely on fossil fuel energy at a time when deliberate decisions are being made to stop funding fossil fuel projects. The world risks abandoning fossil for renewable, but in the end not getting the renewables, and at the same time losing the fossils due to deliberate neglect”, he explained.

Ibrahim urged African refiners to invest more on technology and develop the right expertise to manage their refineries, which are going to serve the continent as western refiners halt the establishment of more refineries.

He stated, “African refiners have no cause to worry about their investments. All they need to do is to ensure that they have developed the right expertise to manage their refineries, get honest managers and staff to run their business and come together to join APPO’s initiative to establish foundries and other equipment manufacturing plants to service their refineries. Once they have these, the market is there for their products.

“For the next three decades or more, Africa shall continue to use fossil fuel-driven vehicles and with its population projected to double within that period, there will be a huge market for petroleum products. Africa cannot rapidly transit into electric vehicles, as the bulk of the vehicles on our roads today and in the next 20-30 years are going to be non-electric. There is the market, and we should not be discouraged from thinking positively”, the APPO scribe noted.

He disclosed that APPO is working with its Member Countries to construct cross border energy infrastructure like pipelines for crude and products as well as for oil and gas terminals, depots etc.

“Once we have this infrastructure on the ground, the markets for African refiners shall not be limited to their home countries. Fortuitously, the African Continental Free Trade Agreement, which came into force in 2021, is there to support this initiative”, he added.

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Breaking:Gov. Yusuf Orders Arrest of Deposed Emir of Kano Aminu Ado Bayero

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The Governor of Kano State, Alhaji Abba Kabir Yusuf, has ordered the immediate arrest of the former Emir of Kano, Aminu Ado Bayero, for creating tension in the state.

The former Emir was smuggled into Kano city last night in an attempt to forcefully return to the palace two days after being deposed by the Governor.

In a statement issued by Mr. Sanusi Bature Dawakin Tofa, the spokesperson to the Governor, it was confirmed that the new Emir, Sanusi Lamido Sanusi, arrived at the palace in the company of the Governor, the Deputy Governor, the Speaker of the State Assembly, and other top government functionaries at about 1:00 a.m. on Saturday, 25th May 2024.

As the Chief Security Officer of the state, His Excellency, the Executive Governor of Kano State, Alhaji Abba Kabir Yusuf, has directed the Commissioner of Police to arrest the deposed Emir with immediate effect for disturbing public peace and attempting to destroy the relative peace the state enjoys.

Sanusi Bature Dawakin Tofa
**Director General, Media and Publicity, Government House, Kano**

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NNPC Ltd Condoles with Tijjani Babangida over Loss of Brother, Son

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Yesterday, the NNPC Ltd paid a condolence visit to Nigeria’s Ex-International, Tijjani Babangida, over the tragic loss of his son, Fadil, and brother, Ibrahim Babangida, as a result of the ghastly road accident which occurred on Saturday, May 11th, 2024, along the Zaria-Kaduna Road. It would be recalled that in the unfortunate incident, Babangida and his wife also sustained serious injuries and are currently receiving medical attention.

During the visit, GCEO NNPC Ltd, Mr. Mele Kyari, represented by the Company’s Chief Corporate Communication’s Officer, Mr. Olufemi Soneye, expressed the Company’s heartfelt commiserations to the Babangida family, praying for God’s mercy upon the souls of the departed and for a speedy recovery of the ex-footballer and his wife.

Earlier in February 2024, Tijjani Babangida was among a selected team of Nigeria’s Ex-Internationals, led by the legendary Austin Jay Jay Okocha, who participated in a novelty football match during the grand finale of the 13th NNPC Sports Fiesta held at the Moshood Abiola National Stadium in Abuja.

In his response, an elated Babangida expressed his delight to the NNPC Ltd for identifying with him in his trying period, stressing that although lives once lost can never be brought back, the Company’s kind gesture will further strengthen his resolve to overcome the predicament.

 

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ECOWAS Parliament Elects First Female Speaker

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The 6th ECOWAS Parliament has elected Ibrahim Maimunatu, a female from Togo, as the Speaker of the Parliament. She is the first female Speaker to be elected in the parliament’s history.

 

During her investiture speech, the newly elected Speaker expressed gratitude to the Parliamentarians for entrusting the fate of the parliament for the next four years to her.

“I’m grateful for the honour conferred on me. I commended the Chairman of the ECOWAS and Nigeria’s President, Bola Ahmed for entrusting the 6th Legislature to my country.”

This is the first time the leadership entrusted to a woman, this, has proven the vision of ECOWAS youth and women should be protected. This has further demonstrated the aim and passion of Togo President Faure Essozimna Gnassingbé who always support youths and women, particularly with the introduction of the legislation to support youths and women in Togo”

The new Speaker of the ECOWAS Parliament, Maimunatu assured that she will leave no stone unturned to meet the expectations of the member states.

She further commended the Deputy Speaker of the Parliament, Barau Jibrin, who has demonstrated his skills, commitment, determination, and leadership style in bringing the Parliament to its current stage.

She lamented that the reinsurgence of Terrorism and coup d’ etat in Niger Republic Burkina Faso and Mali and Climate Change were some of the issues bedevelling the sub region.

She lamented that the resurgence of terrorism and coups d’état in Niger Republic, Burkina Faso, and Mali, as well as climate change, were some of the issues plaguing the sub-region.

She stressed that the Parliament would collaborate with member states to address the challenges facing the West African region.

She maintained that the Parliament will work together towards realisation of its 5 pillars envisaged in vision 2050, including a secure, stable and peaceful region; a region endowed with strong institutions, and that complies with the rule of law and fundamental freedoms; a fully integrated and prosperous region; a region mobilized for transformation, inclusive and sustainable development.

After she delivered her inaugural speech, Ibrahima Maimunatu declared the 2nd Extraordinary Session held in Kano closed.

Earlier, Deputy Speaker of the ECOWAS Parliament, Barau Jibrin noted that Extraordinary Session held in ancient city of Kano was to bring the Parliament to the people of Kano State.

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