fbpx
Connect with us

News

Buhari, five African Presidents to commission Dangote Petroleum Refinery (today)

Published

on

President Muhammad Buhari in a recent photograph

 

 

In an epoch-making event that will positively transform Nigeria’s oil and gas sectoral landscape, President Muhammadu Buhari will today commission Dangote Petroleum Refinery & Petrochemicals, the world’s largest single train refinery in Ibeju-Lekki, Lagos; alongside his counterparts from Ghana, Togo, Senegal, Niger, and Chad.

 

Promoted by Africa’s richest man, Aliko Dangote, the petroleum refinery with a capacity to process 650,000 barrels per day (bpd) is sitting on 2,635 hectares of land located in Dangote Industries Free Zone in Ibeju-Lekki, Lagos, and will provide employment to over 100,000 persons. The coming onstream of the gigantic project is expected to mark Nigeria’s exit from the league of oil-rich nations that are heavy importers of petroleum products.

 

Expected at the historic event apart from international dignitaries are the Presidents of Togo, Gnassingbé Eyadéma; Ghana’s Nana Akufo-Addo; President of Senegal, Macky Sall; President of Niger Republic, Mohamed Bazoum, President of Chad, Mahamat Déby and a host of ambassadors.

President Paul Kagame of Rwanda, who will not be physically present, will present his goodwill message virtually.

 

As at the time of filing this report, all the 36 state governors and most of the governors-elect, ministers, senators, and captains of industries in Nigeria and others from outside the country, global oil traders, top international bankers, international multilateral agencies have indicated their readiness to grace the ceremony.

Dangote: Global Partnerships and Investments saved 12m lives from Malaria deaths

Nigeria’s President-Elect, Bola Ahmed Tinubu whose administration as the governor of Lagos in 2002 floated the Free Trade Zone in Ibeju-Lekki where the Refinery is located, is expected to be at the event.

 

The commissioning of Dangote Petroleum Refinery is significant given that it is the first time that a refinery of such magnitude built by an individual is being commissioned.

 

Dangote’s petroleum refinery is expected to meet the needs of Nigerian consumers and those in neighbouring countries, while allowing for exports beyond the African continent. The refinery will drive the promotion of the African Continental Free Trade Area (AfCFTA) as over 50 countries in the trade bloc depend on imported refined petroleum products.

 

According to the Facts Sheet on Dangote Petroleum Refinery, the new Refinery can meet 100% of the Nigerian requirement of all refined products (Gasoline, 53 million litres per day; Diesel, 34 million litres per day; Kerosene, 10 million litres per day, and Aviation Jet, 2 million litres per day) and also have surplus of each of these products for export.

The refinery is designed for 100% Nigerian Crude with flexibility to process other crudes. It has self-sufficient marine facility with ability for freight optimisation, and the largest single order of 5 SPMs anywhere in the world. Diesel and Gasoline Products from the refinery will conform to Euro V specifications.

 

“The refinery design complies with World Bank, US EPA, European emission norms and Department of Petroleum Resources (DPR) emission/effluent norms. State-of-the-art technology. 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,” the Facts sheet added.

 

It also stated: “65 Million Cubic Metres of sand dredged costing approximately Euros 300 million, using the world’s largest, the second largest and the tenth largest dredgers to elevate the height by 1.5 metres, to insure against any potential impact of increase in mean sea level due to global warming. Bought over 1,209 units of various equipment to enhance the local capacity for site works.

 

“332 cranes to build up equipment installation capacity. Built 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).

Developed a port and constructed two quays with a load bearing capacity of 25 tonnes/ sq metres to bring Over Dimensional Cargoes close to the site directly. The company also constructed two more quays in the port with a capacity to handle up to Panamax vessels to export fertiliser and petrochemicals and two quays to handle liquid cargoes. The port will thus have 6 quays, including a Roll-on/Roll-off quay”, the sheet added.

 

News

Security: Governor Yusuf Attends Symposium Organized by US Institute of Peace for Northern Governors

Published

on

 

 

Kano state Governor, Alh. Abba Kabir Yusuf has arrived United States of America for high powered symposium organized by US Institute of Peace.

The three days conference being attended by Governors of Kano, Katsina, Zamfara, Kaduna, Niger, Sokoto, Kebbi, Jigawa,and Plateau states, was designed to address insecurity in Northern Nigeria and better option to mitigate the challenge.

The intensive executive engagement will enable the Governors of some of the trouble state deep understanding on the dynamics of security threat, it’s socioeconomic dimensions, and near-term opportunities to drive stability in Northern Nigeria.

The US Institute of Peace would also broaden knowledge on strengthening conflict prevention in the region, through a non-violent strategies for engaging the armed groups as alternative for conflect resolution.

The strategic engagement being anchored under the tutelage of Dr. Joseph Sany, Vice President, Africa Center for US Institute of Peace, will also focus on policy coordination and management of peace and stability in Nigeria.

The symposium which ends 25th April, 2024 is part of the ongoing efforts of the northern Governors especially those from northwest to set a regional development agenda.

 

Continue Reading

News

FG losing huge revenue to saboteurs at Kano Free Trade Zone-Expert

Published

on

 

A seasoned economic expert, Musa Audu-Abubakar, has raised the alarm over the alleged illegalities taking place at the Nigerian Export Processing Zone in Kano, costing the Federal Government billions of naira in revenue.

Mr Audu-Abubakar, who raised the alarm while speaking with select newsmen on Tuesday in Kano, lamented that at a time when the country is battling with economic instability, finished goods are being diverted to the Nigerian Export Processing Zone for clearance.

According to the expert, the alleged illegality is taking place under the watch of some unpatriotic Customs officers.

He said: “Some businessmen are in the habit of diverting finished products to Nigerian Export Processing Zone Authority because they pay as little as 30% of the customs duty while the government lose billions of revenue.

“They pay as little as 30% of customs duty payable at the Kano Free Trade Zone, while they don’t pay sometimes because they settle the customs officers on duty.

“This is affecting the economy. The government is losing billions of naira until the needful is done,” he lamented.

Mr Audu-Abubakar explained that the Nigerian Export Processing Zone Authority/Kano Free Trade Zone, which is located at the Fanisau Area of Ungogo Local Government in Kano is solely responsible for clearing raw materials, not finished products.

“Taking finished products to the agency for clearance is illegal and against the law,” the expert emphasized.

“The last time I visited the Nigerian Export Processing Zone Authority, I saw that not less than 10 containers of finished products were being cleared in the evening. The question is what brought finished goods to the Nigerian Export Processing Zone?,” he quizzed.

Mr Audu-Abubakar, therefore, called on the federal government to deploy its enforcement mechanisms with a view to ensuring that all finished goods go through the appropriate channels.

“The federal government needs to act fast and enforce regulations so that anyone found guilty of sabotaging the effort of the government in generating deserved revenue,” he added.

Continue Reading

News

Kano Assembly Urges Government to Deal With KEDCO

Published

on

Speaker Kano State House of Assembly Ismail Jibril Falgore

 

The Kano State House of Assembly has called on the state government to take action against Kano Electricity Distribution Company (KEDCO) for cutting off electricity supply to customers without notice.

During a plenary session on Tuesday presided over by the speaker Jibril Isma’il Falgore, Usman Abubakar Tasiu, a member representing Kiru, made the call.

In presenting the motion, Tasi’u lamented how KEDCO has failed to provide transformers or repair faulty ones, despite collecting payments.

He urged the Kano State Government to compel KEDCO to restore electricity supply to affected communities, particularly in Kiru, Bebeji, and Karaye areas.

Contributing to the motion, Aminu Sa’ad, the member representing Ungoggo, noted that the House has repeatedly called on the government to intervene in KEDCO’s operations due to the power outage.

He mentioned that different motions were presented in the eighth and ninth assemblies regarding KEDCO’s operation, as the company has failed to satisfy the people of Kano State.

Sa’ad emphasized that KEDCO should start compensating customers for its failure to serve them well.

He expressed disappointment that the situation has persisted despite previous efforts, which should not be tolerated anymore.

Continue Reading

Trending