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Govt’s Support for Dangote Refinery will Encourage Further Investments in Downstream-MAN

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Manufacturers Association of Nigeria (MAN) have solicited the support of both Nigerians and the government for Dangote Refinery, to enable it to perform optimally. The support they canvassed will also serve as an impetus for other investors to invest in the downstream sector of the petroleum industry in the country.

The President of MAN, Otunba Francis Meshioye, who made the call after a tour of the Dangote Petroleum Refinery, Petrol Chemical Complex and Fertilizer Plant  advocated that Nigerians and the government should do all they can to support the multi-billion-dollar company, which he described as a source of pride and a gift not only to Nigeria but also to the African continent and the whole world.

He described the Dangote Refinery as a game-changer in the Nigerian oil and gas industry, saying that it is not only creating jobs and driving economic growth but also contributing to our nation’s energy security and self-sufficiency.

According to him, the project is quite inspiring, and he admired the inspiration of the promoter of the project, Aliko Dangote. He said: “To have been inspired to establish this facility is very magnificent, it is the first ever in Africa and the first ever of such refinery in the whole world. It has many first, first and first.”

The company has the capacity to produce all our needs locally, petroleum, and other similar products: no one would come to the facility and he would not be inspired or encouraged to ensure that all the support that the company requires should be given to it.

The MAN President said the government should do all that is humanly possible to ensure that the facility works Optimally. “It is prudent and expedient that the   necessary supports are given to the company for the economic benefits of Nigeria.”

If the facility can produce 650,000 barrels of crude per day and Nigeria is producing far above this volume per day, she should give the facility all crude it needed to produce”

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He said, apart from the fact that the facility can give Nigerians what they need locally, the excess will be exported, and when they are exported, the country benefits because it will earn foreign exchange for the government.

“So, whichever way we look at it, the facility requires the government’s support to be able to operate optimally.  We have seen the laboratory which is in a class of its own. It is first among equals around the world. It is functioning very well. It is a complex on its own.

With this kind of facility that starts from quality control to quality assurance, just to ensure that the harmful effects of the products are at zero level, what can be greater than this?  This is very unique and I will encourage all stakeholders to give maximum support, and not by the way support, but maximum support

“I cannot see anything that is lacking in this company, we have been here since morning and went through all the units. The facility can deliver products between 1760 trucks to 1800 trucks per day. So if you have such several trucks going out of the facility a day to various destinations in Nigeria, so many people will benefit from it. There will be more jobs, many families will be comfortable because of the jobs this will create, many artisans will benefit and it will have a spillover effect on so many sectors of the economy.

If they can produce AGO, gasoline and Jet A fuel, this is good and the government should have no reason not to ensure the facility gets its backing to carry out its activities, because it is going to benefit massively.”

The MAN boss who stated that his organization is an advocacy group, said to a large extent it will support the Dangote Refinery by pushing its case with the government, and also solicit the support of necessary government agencies that can ensure that it operates fully.

The association, he said, always discusses with the government issues that affect its members and it has always listened to it , and always finds solutions to those issues, stating further that Dangote Refinery’s case will not be different.

“The sheer scale and ambition of this project is truly impressive, and we applaud the vision and determination of the Dangote Group in making this refinery a reality.

As manufacturers, we understand the importance of reliable and affordable energy in driving our businesses forward. The Dangote Refinery will undoubtedly have a positive impact on the entire manufacturing value chain, providing a reliable source of fuel and petrochemical products that are essential for capacity utilisation and value addition.

“I believe that the success of the Dangote Refinery serves as an inspiration to all of us in the manufacturing sector. It demonstrates what is possible when we combine innovation, technology, and investment to create world-class facilities that benefit the entire nation.”

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FG proposes N47.9trn as the 2025 budget

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President Bola Ahmad Tinubu

 

The federal government has proposed N47.9 trillion as the total expenditure in the 2025 budget.

Atiku Bagudu, the minister of budget and economic planning, told journalists on Thursday, after the federal executive council (FEC) meeting presided over by President Bola Tinubu.

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Vaguely said the council approved the medium-term expenditure framework (MTEF) for 2025-2027.

He said the government pegged the crude oil benchmark at $75 per barrel and oil production at 2.06 million barrels per day (bpd)

The budget minister said the exchange rate was pegged at N1,400 per dollar, noting that the government is targeting a gross domestic product (GDP) growth rate of 6.4 percent.

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Government Declares Public Holiday

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Ondo state government has declared Friday a public holiday to enable civil servants and others to travel to various communities to exercise their civic responsibilities.

This was contained in a statement on Wednesday evening signed by O.F. Ayodele, Permanent Secretary, Office of the Head of Service.

The statement reads, “The 2024 Governorship Election in Ondo State has been scheduled by the Independent National Electoral Commission (INEC) to be held on Saturday, 16th November 2024.

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To this end, the Ondo State Government has declared Friday, 15th November 2024 as Work-Free Day for Public Servants in the State to enable them to travel to various communities to exercise their civic responsibilities.

“All Accounting Officers are to note the content of this Circular and disseminate same to all staff of their respective Ministries, Departments and Agencies.

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Atiku Has No Chance In PDP, Won’t Get 2027 Presidential Ticket ,Says Wike

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Nyesom Wike, Minister of the Federal Capital Territory (FCT), recently cast doubt on former Vice President Atiku Abubakar’s prospects of securing the Peoples Democratic Party (PDP) nomination for the 2027 presidential race.

During a live media interview on Wednesday in Abuja, Wike pointed out that Atiku’s policy proposals have been repeatedly presented to the Nigerian people and consistently dismissed by voters.

It can recalls that Atiku, the PDP’s presidential candidate in 2023, recently asserted that his administration would have provided relief from the current hardships faced by Nigerians under President Bola Tinubu.

Responding to this, Wike questioned the viability of giving Atiku another chance, saying, “Did he (Atiku) not present his blueprint to Nigerians? Did they choose him?”

“He is lobbying for another chance, but that chance will not be there. In which party? How can we rely on one individual for so many years?”.

Drawing an analogy with U.S. politics, Wike compared the decision-making process to American voters’ choices, emphasizing that citizens often prioritize the nation’s welfare when casting their ballots, regardless of individual opinions on candidates.

He suggested that while criticisms are part of the democratic landscape, the Nigerian public had assessed Atiku’s vision in 2023 and opted for a different path.

Politics Nigeria

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