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Dangote Refinery will generate $21billion, to employ over 100,000 youths

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Alhaji Aliko Dangote

 

 

Amid encomium from eminent personalities, which included President Mohammadu Buhari and five other African heads of state, President of the pan-African Conglomerate, Dangote Industries Limited (DIL), Aliko Dangote disclosed yesterday that the newly commissioned 650,000pbd refinery would employ over 100,000 Nigerians youths as well as generate over $21 billion, therefore saving the country huge forex, that would have been used for fuel importation. The company, according to him, now has over 33,000 employees.

Much to the excitement of Nigerians, Dangote said the commissioning has marked the beginning of the new journey of self-sufficiency in refined petroleum products and exportation of same just as been achieved in Cement and lately fertilizer.

Dangote lamented that the current fuel crisis has had negative impact on the nation’s economy and that informed his decision to build a world class refinery that would change the trend  and that though faced challenges but decided to trudge on.

He highlighted events leading to his firm deciding to build its own refinery after his attempt to acquire one of the existing moribund did not materialize noting that he decided to change marketing strategy and settle for gigantic project ever undertaken by an individual world over.

According to him, the refinery plant would be run at the highest effective and efficient level for maximum benefits to all Nigerians noting “we will replicate what we achieved in cement and fertilizer by attaining self-sufficiency and becoming net exporter.

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Dangote assured Nigerians that 40 per cent of the production capacity will be available for export with the coming on stream of the plant guaranteeing raw materials for plastic, and pharmaceutical industries.

In his remark, President Buhari congratulated Dangote Group, saying “the 650,000 barrels a day of crude which will enable our country to achieve self-sufficiency in refined products and even have some supplies for export saying the government and people of Nigeria are proud of the doggedness and tenacity of Dangote as entrepreneur.

Said he; “This feat at this time of the nation’s economic development clearly made this event a notable milestone for our economy and the game changer for the downstream petroleum products not only for Nigeria but the entire African continent. Dangote Group has helped transform our economy from heavy import dependence to a net exporter in some critical industries, including cement and Fertiliser.”

He noted that the economy which has been stressed for many decades by huge deficits in economic infrastructure and over a decade of insurgency has also been severely impacted by several external crises, including the global financial crisis, the collapse of world crisis the Coronavirus pandemic and the Russia Ukraine war.

“The consequences of these challenges constitute a severe strain on our economy and limiting government’s ability to provide basic infrastructure without resorting to borrowing. Government therefore decide to focus attention on creating an enabling environment for the private sector to thrive and fill the enormous gap in investments not only in infrastructure, but also in all critical sectors.

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We recognize that without active participation of the private sector and a strong commitment to public-private partnership, the economy will not be able to continue to meet the challenge and economic growth”, while expressing the hope that the coming administration will continue to apply such innovative schemes to accelerate the fruition of critical infrastructure, in particular roads and gas pipelines.

Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele while commending Mr. Dangote for the successful completion of the refinery project said it would not only aid that nation’s domestic petrol needs, but also help in generating export revenues for our country.

Emefiele recalled; “In September 2013, when Alhaji Aliko Dangote announced his plans for the refinery, it was estimated to cost about US$9 billion, of which US$3 billion was projected as equity investment by the Dangote Group and the balance financed through commercial loans. Due to an array of factors, the project was eventually completed with a total of US$18.5 billion with funding distributed into 50 percent equity investment and 50 percent debt finance. I am proud to state that the commercial loan component of the project was financed majorly by our domestic banks with the balance sourced from foreign banks. The Central Bank of Nigeria also partnered, as always, with the Dangote Group in ensuring the successful completion of the project by providing about N125 billion, to cover domestic currency requirements for the venture.

What you may not be fully aware of, Your Excellencies, is that the Dangote Group has started repaying some of the commercial loans even before the commissioning of this facility. This reflects the commercial capability of the Group and its Chairman. I am pleased to inform everyone today that, following extensive repayments, outstanding debt has dropped appreciably from over US$9 billion to US$3 billion.”

The CBN Governor commended Nigerian banks saying they did not only partnered with the project through effective financing but were keenly aware of the importance of the project for our nation. “They provided immense support and exceptional understanding, even when interest payments and principal repayment had fallen due.”

He described the successful completion of the refinery to President Buhari’s astute vision to ensure that Nigeria produces what Nigerians consume and that we consume what we produce. “The refinery and petrochemical project by the Dangote Group is a testament to your vision for Nigeria. It shows that, regardless of what the world thinks, Nigeria can be self-sufficient in all products that we consume and at the same time export our excess output to the rest of the world.”

“Aside enumerating our strategic efforts in the agriculture and other critical sectors, a sterling projects that we highlighted was the gigantic Dangote Refinery and Petrochemical project. The world doubted our willpower to succeed with this project. In hindsight, I could appreciate their skepticism because they do not understand how a single individual could build a refinery capable of serving an entire nation. To them, projects of this magnitude are usually only undertaken by sovereigns not individuals.”

Group Managing Director of the Nigerian National Petroleum Company Ltd (NNPC), Mele Kolo Kyari said the NNPC was happy to partner Dangote Refinery because the project has potentials for smooth supply of petroleum and it would guarantee healthy competition for the benefits of the nation’s economy.

He said the NNPC Ltd. was committed to value addition to the potentials of the project noting that the new Petroleum Industry Act will provide security of supply of refined products and protect the plant. The NNPC boss added that his was happy the refinery is coming on board at a time the subsidy on imported products has become unbearable for government.

In their respective goodwill messages, Presidents of Ghana, Senegal, Niger, Benin Republic and Chad expressed satisfaction that the Dangote Refinery will serve the West African region and that their countries would be beneficiaries saying the Dangote Refiner is an African company for Africa by an African entrepreneur.

 

 

 

 

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NCC to Enforce Subscriber Compensation for Poor Telecom Service

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By Yusuf Danjuma Yunusa

The Nigerian Communications Commission has announced that its directive mandating telecommunications operators to compensate subscribers for poor service quality will take effect from this month.

The Commission disclosed this in a Frequently Asked Questions document released on Tuesday, offering clarity on how the compensation framework will work and which subscribers qualify.

According to the NCC, the directive applies specifically to Mobile Network Operators that fail to meet the required Key Performance Indicators for Quality of Service. These operators include major players such as MTN Nigeria, Airtel Nigeria, Globacom, and 9mobile, although the Commission did not specify which of them fell short of the standards.

The NCC noted that a separate compensation framework already exists for Internet Service Providers.

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Under the new directive, compensation will cover service failures affecting voice calls, data services, and SMS. To qualify, subscribers must have experienced poor network service in an affected Local Government Area and must have carried out at least one revenue-generating activity—such as a billed call, SMS, or data session—within the period in question.

The Commission added that both individual and corporate subscribers are eligible for compensation.

Importantly, the NCC stated that subscribers will not need to apply to receive compensation. Instead, telecom operators are mandated to automatically identify affected customers and compensate them directly.

“The compensation framework will take effect from April 2026.

“No. The directive does not replace existing consumer protection mechanisms. It adds a direct compensation mechanism for affected subscribers. It aligns with measures set in existing legislation, such as the Consumer Code of Practice Regulations 2024 and the Quality of Service Regulations 2024,” NCC said

“Operators are required and mandated to identify affected subscribers and provide compensation directly. Only service failures that fall below the defined thresholds set by the Quality of Service Regulations will qualify,” NCC said.

However, the regulator clarified that minor or short-lived network disruptions that are quickly resolved may not meet the threshold for compensation.

The move is part of the NCC’s broader efforts to improve service delivery and hold telecom operators accountable for consistent network performance across the country.

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ADC Leadership Tussle Worsens as Third Faction Emerges, Rejects Nafiu Camp, Mark’s Coalition

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By Yusuf Danjuma Yunusa

A new faction within the African Democratic Congress has surfaced, rejecting the authority of the Senator David Mark-led coalition and distancing itself from Nafiu Bala’s faction.

According to Africa Independent Television, the faction led by Don Norman Obinna claims to represent the legitimate National Executive Committee of the party.

The group says it is stepping in to manage the party’s affairs ahead of the next national convention.

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At a briefing in Abuja on Tuesday, the group stated that “The tenure of Ralph Nwosu, who handed the party to the David Mark group, had ended in August 2022, and afterwards, he (Nwosu) had faced a series of litigations due to his failure to step down.”

The faction also clarified the status of Nafiu Bala, noting that he “never held the position of National Vice Chairman,” and affirmed that former ADC presidential candidate “Dumebi Kachikwu is still a member of ADC”

The group further disclosed that new interim leaders have been appointed to oversee party activities, ensuring continuity until the national convention is held.

The remarks come amid an ongoing leadership crisis within the ADC, which has seen rival factions contest control of the party. The Independent National Electoral Commission recently withdrew recognition of the party’s leadership under former Senate President David Mark.

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Internal Crisis Deepens in Jigawa APC as High-Profile Defections Threaten Party Cohesion

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By Yusuf Danjuma Yunusa

The All Progressives Congress (APC) in Jigawa State is grappling with its most significant internal crisis in years, as a wave of defections by prominent political figures threatens to erode the party’s structural integrity and electoral prospects.

The growing discontent is widely attributed to allegations of poor party management and the marginalisation of key stakeholders under Governor Umar Namadi. His leadership style has come under increasing scrutiny from within party ranks, with critics pointing to a breakdown in internal consensus-building.

Political observers trace the roots of the crisis to a strained relationship between Governor Namadi and his political benefactor, former Governor Mohammed Badaru Abubakar, as well as his financial backer, Isa Gerawa. Although both men remain in the APC, sources familiar with the situation report lingering resentment over what they perceive as a systematic exclusion from decision-making processes and party affairs.

This “cold war” at the highest levels of the party hierarchy has created factions and widened fissures across the APC’s political base in Jigawa. Analysts warn that if left unresolved, the discord could severely undermine party unity and weaken its performance in future elections.

The crisis has now manifested in a string of high-profile defections involving former lawmakers, ex-party executives, and grassroots mobilisers.

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Leading the list are former Senators Sabo Nakudu, who represented Jigawa South-West from 2015 to 2023, and Muhammad Ubali Shitu, a longtime political associate of the governor who served in the Senate from 2015 to 2019. Senator Nakudu’s defection is particularly symbolic, as he previously contested the APC governorship ticket against Namadi. His relationship with former Governor Badaru reportedly soured after Badaru backed Namadi during the primaries. Notably, Nakudu and Badaru have since reconciled, united by their mutual opposition to the current governor.

The departure of former party chairmen further underscores the depth of the crisis. Ado Sani Kiri, who chaired the party from 2014 to 2019 and also served as a commissioner and member of the House of Representatives, has left the party, as has Aminu Keskes, who led the party from 2019 to 2023 and previously served as Gumel Local Government chairman and chairman of the Association of Local Governments of Nigeria (ALGON) in the state.

Also among the defectors is Bala Usman Chamo, a former Social Investment Programme coordinator and Dutse Local Government chairman, widely regarded as a key grassroots organiser. Their exit is seen as a major blow to the party’s strength, given their influence across various political blocs in the state.

The crisis has also penetrated the governor’s inner circle, with several political appointees resigning from their positions and quitting the party. Two serving special advisers have stepped down, including one reportedly preparing to contest for a seat in the House of Representatives under the opposition African Democratic Congress (ADC). Additionally, six senior special assistants and two special assistants have resigned, all citing dissatisfaction with the current direction of the party.

One of the most notable exits is that of Zakari Kafin Hausa, a former senior special assistant who played a central role in organising Governor Namadi’s campaign and mobilising the support that led to his emergence as governor. His defection is viewed by insiders as a significant indicator of deepening cracks within the governor’s inner circle.

Perhaps most damaging to the APC’s political machinery is the defection of at least 17 former local government chairmen. These figures are critical to grassroots mobilisation, electoral coordination, and voter outreach. Their exit signals a potential collapse of the party’s local structures, raising serious concerns about the APC’s ability to secure the mandatory 25 percent of votes in the state during future presidential elections.

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