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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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Ajiya Expresses Concern Over Rising Insecurity, Banditry, and Cattle Rustling

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Elder statesman Umar Ajiya has raised fresh concerns over Nigeria’s worsening security situation, warning that the country’s persistent insecurity could escalate into a national crisis if citizens fail to actively support government efforts in tackling the menace.

Speaking in a statement issued to journalists, Ajiya noted that Nigeria has been grappling with multiple security challenges for more than two decades, ranging from insurgency by Boko Haram to widespread kidnapping, banditry, cattle rustling, and other violent crimes that have continued to threaten national stability and economic growth.

According to him, while the Federal Government and several state governments have made considerable efforts to address the situation, it has become increasingly evident that government intervention alone cannot solve the problem. He stressed that every responsible citizen has a role to play by providing credible intelligence, contributing resources where possible, and offering constructive ideas and advice to support security agencies.

Ajiya emphasized that history has repeatedly shown that when the majority of law-abiding citizens remain silent in the face of growing societal challenges, such problems often worsen and become more difficult to resolve.

“Throughout history, the failure of the good majority to speak up has allowed systemic issues to thrive, whether in civic life or spiritual matters. If this trend continues, Nigeria stands the risk of a national meltdown that Africa cannot swallow,” he warned.

The elder statesman said the gravity of the current security challenges compelled him, as a concerned private citizen, to propose a number of policy options and practical solutions that government authorities may consider in their efforts to restore peace and security across the country.

Among his recommendations was the need for adequate and timely funding of security agencies, backed by measurable Key Performance Indicators (KPIs) and accountability mechanisms to ensure efficient utilization of resources.

He also called for improved intelligence gathering and the effective deployment of technology, particularly drones, to enhance surveillance operations. According to him, security agencies should be held accountable for failure to act on intelligence provided by relevant agencies, including the Department of State Services (DSS).

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On community policing, Ajiya advocated the establishment of state police or, alternatively, the deployment of police officers below the rank of Deputy Commissioner of Police to their respective states of origin under the existing federal policing structure. He further recommended the compulsory registration of all citizens under the National Identification Number (NIN) scheme, with links to phone numbers and bank accounts to improve traceability and intelligence gathering.

To address the growing trend of kidnappings, he proposed a nationwide ban on ransom payments and encouraged a gradual transition to a cashless economy, supported by strict enforcement measures against violators.

The elder statesman also expressed concern over alleged political interference in security matters, urging authorities to closely monitor political actors suspected of maintaining links with criminal elements. He called for the prosecution of anyone found aiding or collaborating with bandits and other criminal groups.

Ajiya highlighted the need for stronger coordination among security agencies, recommending the establishment of centralized Command and Control Centres (CCC) in every state. Such centres, he said, should be supported by Rapid Response Squads in all local government areas and vulnerable zones to facilitate swift and coordinated responses to security threats.

He further advocated improved welfare packages for frontline security personnel, insisting that benefits and allowances should be paid directly into the accounts of officers rather than through administrative channels that could delay or distort payments.

On border security, Ajiya urged Nigeria to strengthen collaboration with neighbouring countries through the creation of a regional joint task force equipped with drone technology and air power to monitor and secure porous border regions.

In a recommendation likely to generate public debate, he suggested that responsible citizens should be permitted to own firearms under a carefully regulated licensing framework. He also proposed empowering state forest guards and retired military personnel willing to serve in protecting their local communities.

Addressing infrastructure-related security concerns, Ajiya called for the urgent rehabilitation of major roads by both federal and state governments. He proposed the installation of scanners and security checkpoints at key entry and exit points into towns and cities to improve monitoring and crime detection.

On the issue of cattle rustling, he recommended that the Federal Government establish a comprehensive animal transaction registry requiring detailed records of buyers and sellers, including photographs and contact information, while also taking steps to prevent the sale of stolen livestock in markets across the country.

Ajiya further urged both government authorities and citizens to work collectively to confront the country’s security challenges, stressing that national security should be regarded as a shared responsibility requiring commitment from all stakeholders.

He expressed optimism that with stronger collaboration, accountability, technology-driven solutions, and active citizen participation, Nigeria can overcome its current security challenges and build a safer future for all.

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RATTAWU Kano Mourns Veteran Broadcaster Adamu Ibrahim Getso, Condoles Family

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The Kano State Council of the Radio, Television, Theatre and Arts Workers Union of Nigeria (RATTAWU) has expressed deep sorrow over the death of veteran broadcaster and former Director-General of Abubakar Rimi Television (ARTV), Alhaji Adamu Ibrahim Getso.
The Chairman of RATTAWU Kano State Council, Comrade Babangida Mahmouda Biyamusu, on behalf of the State Executive Council and members of the union, led a high-powered delegation on a condolence visit to the family of the late media icon.
In a condolence message signed by the union’s Public Relations Officer, Mustapha Idris Yola, and made available to Pressmen, Comrade Biyamusu described the passing of Alhaji Adamu Ibrahim Getso as a monumental loss not only to the media industry but also to Kano State and the nation at large.
He noted that the late broadcaster devoted more than three decades of his life to public service, information dissemination, mentorship, and the promotion of professional journalism and broadcasting.
According to him, the legacy of professionalism, integrity, dedication, and excellence left behind by the deceased will continue to inspire present and future generations of journalists and broadcasters.
“On behalf of RATTAWU Kano State Council, we extend our heartfelt condolences to the immediate family of the late Alhaji Adamu Ibrahim Getso, the Kano State Government, the management and staff of ARTV and Radio Kano, his friends, associates, and the entire people of Kano State over this irreparable loss,” Biyamusu stated.
He added that RATTAWU would continue to cherish and remember the immense contributions of the late media veteran to the growth and development of the broadcasting industry in Kano State and Nigeria as a whole.
The union prayed to Almighty Allah (SWT) to forgive the shortcomings of the deceased, grant him Aljannatul Firdaus, and give his family, friends, and loved ones the strength and fortitude to bear the loss.

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Senate Leader Proposes Single Six-Year Term for President, Governors After 2027

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By Yusuf Danjuma Yunusa

Senate Leader Opeyemi Bamidele has announced plans to sponsor a bill introducing a single six-year tenure for Nigeria’s president and state governors, to take effect after the 2027 general elections.

Speaking with reporters in his office on Tuesday, Bamidele said the proposed legislation would be among the first he presents when the next Senate is inaugurated. He argued that a single, longer term would allow elected leaders to focus entirely on governance, rather than on re-election campaigns.

“One of the first set of bills that I look forward to moving, by God’s grace, when we come back for the 11th Senate, is a bill that will make it possible for anyone who wants to be president of this country, or governor in any part of this country, to spend only one term of six years,” Bamidele said.

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He criticized the current two-term arrangement, noting that it forces officeholders to spend a significant portion of their first term on political calculations and preparations for re-election.

“So that you don’t even have to worry about wasting almost one and a half years of your first term thinking and struggling and looking forward to how you’ll be re-elected,” he explained. “If you know you are there for six years, only one tenure, you put in your best from day one. You know this is the only chance that you have.”

Acknowledging that the proposal may not attract universal support, Bamidele maintained that lawmakers have a duty to pursue reforms they believe will strengthen governance.

“That’s my opinion. It doesn’t mean everybody will agree with me. But it also does not mean that I am prevented from doing that because that has not been the law,” he said. “The essence of law, the essence of parliament, is that laws are like human beings; they grow.”

If formally introduced and passed by the National Assembly, the proposal would require constitutional amendments before it can take effect.

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