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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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Kenyan Presidential Aspirant Warns Dangote: ‘Don’t Rush Lamu Refinery, I’ll Send You Back to Nigeria’

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By Yusuf Danjuma Yunusa

A man identified in a viral video as Kenyan presidential aspirant Patrick Osoi has sparked a heated online debate after warning Nigerian billionaire Aliko Dangote not to rush into establishing an oil refinery in Lamu, saying he would send the businessman back to Nigeria if elected president.

In the clip, said to have been recorded at a Lions Movement event, Osoi says: “I want to tell Aliko Dangote, please don’t rush to start the refinery because, when I’m sworn in as President of Kenya next year, you will be heading back to Nigeria.”

The remarks appear to reference a proposed $16 billion refinery project in Lamu, a coastal county that Kenya has promoted as a future hub for oil and gas infrastructure. Osoi argued that Kenyan investors have the capacity to build and run such a facility without foreign ownership.

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“We don’t need to beg foreigners to develop our resources,” he said, according to a partial transcript of the video. “Kenyans can do it.”

The video has been shared widely on Facebook, X and WhatsApp, drawing mixed reactions. Supporters praised Osoi for what they called a bold defense of economic sovereignty. Critics warned that the comments could scare off foreign investors and strain Kenya’s diplomatic and trade ties with Nigeria.

Dangote, Africa’s richest man and chairman of Dangote Group, has not publicly responded to the clip. His conglomerate operates one of the world’s largest single-train refineries in Nigeria and has investments in cement, sugar, fertilizer and petroleum across Africa.

The Kenyan government has not commented on the video. It was not immediately clear whether the Lamu refinery project involving Dangote is still active or whether Osoi’s remarks reflect any official policy.

Political analysts say the controversy underscores growing public debate in Kenya over foreign investment, local content and control of natural resources ahead of the next general election, expected in 2027.

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NDC’s Kano Governorship Candidate Gwarzo Missing From INEC Final List

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By Yusuf Danjuma Yunusa

The National Democratic Congress (NDC) governorship candidate in Kano State, Aminu Abdussalam Gwarzo, is absent from the final list of governorship candidates released by the Independent National Electoral Commission (INEC).

The three-page list, signed by INEC Secretary Rose Oriaran-Anthony, contains 17 governorship candidates and their running mates for the Kano election, but neither Gwarzo nor any other NDC candidate appears on it.

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Those listed include Governor Abba Kabir Yusuf of the All Progressives Congress (APC), Abacha Muhammed Sani of the Peoples Democratic Party (PDP), and candidates from the African Democratic Congress (ADC), Labour Party (LP), Social Democratic Party (SDP), Action Alliance (AA), African Action Congress (AAC), Action Democratic Party (ADP), All Progressives Grand Alliance (APGA), Allied Peoples Movement (APM), and New Democratic Party (NDP), among others.

The document provides the names, political parties, ages, genders, and educational qualifications of the candidates and their deputy governorship candidates.

INEC did not state why the NDC candidate was omitted, and the published list does not indicate whether the omission is connected to the party’s nomination process, documentation, or another issue.

The development raises questions about the NDC’s participation in the Kano governorship election, although the list alone does not establish the reason for Gwarzo’s absence.

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Dawakin Tofa Academic Forum Holds Maiden Heroes Day, Honours Former Kano Governor

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The Dawakin Tofa Academic Forum has held its maiden Heroes Day and awards ceremony, honouring 10 distinguished late indigenes of Dawakin Tofa Local Government Area of Kano State for their contributions to education, public service, politics, community development and other fields.

The event, organised by the Dawakin Tofa Academic Forum, brought together academics, community leaders, elders and other stakeholders to celebrate the legacies of prominent personalities who contributed to the development of Dawakin Tofa, Kano State and Nigeria.

Speaking at the ceremony, the chairman of the forum, Dr Junaidu Danladi, said the organisation was established in 2018 to bring together educated indigenes of Dawakin Tofa, including professors, associate professors and other professionals from tertiary institutions.

Danladi said the forum had grown significantly since its establishment, with more than 100 members committed to promoting educational development and recognising individuals whose contributions had positively shaped the community.

He said the maiden Heroes Day was organised to preserve the history of Dawakin Tofa and ensure that the achievements of its prominent sons were documented and remembered by present and future generations.

In his remarks, Surveyor Muhammad Nadu Yahaya, an elder and former commissioner for lands, budget and planning, described the initiative as a timely and commendable development, saying the recognition of distinguished personalities from Dawakin Tofa was long overdue.

Yahaya said the forum represented the intellectual elite of Dawakin Tofa, whose members had demonstrated a commitment to advancing the community through knowledge, innovation and public service.

He commended the organisers for introducing the Heroes Day initiative, describing the selected award recipients as eminent personalities whose influence extended beyond Dawakin Tofa to Kano State and Nigeria.

Yahaya also called on the people of Dawakin Tofa to make additional efforts to distinguish the local government through educational advancement, community development and other innovative initiatives.

He prayed for Allah’s blessings upon the award recipients and the organisers, urging the forum to sustain the programme as an annual event that would inspire younger generations.

Similarly, Madakin Kano, Yusuf Nabahani Cigari, commended the Dawakin Tofa Academic Forum for recognising the achievements of the community’s late prominent figures.

Cigari said Dawakin Tofa was blessed with accomplished individuals across politics, the economy and public service, adding that the local government had a rich history of producing personalities who contributed to the development of Kano State and the country.

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He urged the people of Dawakin Tofa to remain united and work collectively towards the progress of their community, stressing the importance of preserving its heritage and celebrating its achievements.

The former chairman of the Dawakin Tofa Academic Forum, Dr Ameer Abdul Aziz, presented the profiles and contributions of the personalities selected for the maiden edition of the Heroes Day.

Abdul Aziz explained that hundreds of deserving indigenes could be considered for recognition, but the forum selected 10 individuals for the inaugural edition, with the intention of honouring more distinguished personalities in subsequent editions.

Among those honoured was Bello Kano, also known as Madakin Kano, who was born in 1907 and died in 1987. Abdul Aziz said Bello Kano began his career in education as an assistant teacher before rising to become a headteacher at a middle school.

According to Abdul Aziz, Bello Kano also served in different administrative and legislative capacities and contributed to the establishment of primary and post-primary schools in Dawakin Tofa, helping to expand access to education in the area.

Another recipient was Alhaji Adamu Danguguwa, who lived from 1913 to 1988. Abdul Aziz said Danguguwa acquired Qur’anic education and later attended Samaru Agricultural School, where he received agricultural training.

The forum also recognised a former governor of Kano State, “Alhaji Abdu Dawakin Tofa,” born in 1932 and died in 2003, who studied at Kansas University in the United States and served as commissioner for agriculture, deputy governor and governor of Kano State from May to October 1983.

The late Imam of Dawakin Tofa, Mukhtar Iman, who lived from 1935 to 2008, was also honoured for his contributions to reconciliation and efforts to combat illiteracy, according to Abdul Aziz.

The forum recognised Ahmad Ismail Dungurawa, who lived from 1945 to 2008, for his role in struggles for justice and his efforts to promote the interests of ordinary people.

Another award recipient, Aminu Garba Yaro, was celebrated for his generosity and support for children, including assistance to young people seeking educational opportunities. Abdul Aziz said Yaro, who worked with United Bank for Africa, made contributions to the welfare and advancement of others.

The forum also honoured Engineer Magaji Abdullahi, a water engineer who lived from 1947 to 2016, for his contributions to Dawakin Tofa, Kano State and Nigeria. Abdul Aziz said Abdullahi’s professional work and services had made a lasting impact on the community ,a prominent politician and a former Deputy Governor of Kano state from 2003 to 2007.

Abdullahi Maikano Rabiu, who lived from 1949 to 2021, was recognised for his commitment to supporting students, including those he knew personally and others who approached him for assistance, according to Abdul Aziz.

Abdul Aziz described Rabiu as a compassionate individual and a man of wisdom whose generosity helped many people pursue their educational ambitions.

The forum also honoured Alasan Dawakin, who was born in 1946 and died in 2023, for dedicating about five decades of his life to teaching and learning, according to the former chairman.

Another honouree was Malam Abdullahi Maikano, who lived from 1942 to 2023, in recognition of his contributions to the community.

The organisers said the Heroes Day was designed not only to honour the achievements of the deceased personalities but also to encourage younger generations to emulate their commitment to education, service, integrity and community development.

The maiden edition marked an effort by the Dawakin Tofa Academic Forum to document the history of prominent indigenes and establish a platform for celebrating individuals whose contributions might otherwise be forgotten.

The forum is expected to use the initiative to strengthen community ties, promote educational values and encourage the emergence of future leaders committed to the development of Dawakin Tofa and Kano State.

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