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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.

IGP Usman Baba warns against subversive actions ahead of Nigeria’s presidential inauguration

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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Kano IRS Commissions Compliance Office, Raises Revenue Target to N68 Billion

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The Kano State Internal Revenue Service has commissioned a new Compliance and Enforcement Office as part of efforts to strengthen tax administration and improve internally generated revenue across the state.

Speaking during the inauguration ceremony in Kano, the Executive Chairman of the agency, Dr. Zaid Abubakar, said the establishment of the office marked another milestone in the ongoing reforms within the revenue service.

According to him, the agency is determined to significantly increase revenue generation, revealing that the service initially set a target of N35 billion for the year but has now raised expectations for the compliance and enforcement department to deliver as much as N68 billion.

Dr. Abubakar explained that the newly commissioned office would provide staff with a more conducive working environment to improve efficiency and productivity.

“This office is an important component of our service. Previously, the compliance and enforcement team operated from a container facility, but today they now have a befitting environment to work effectively,” he said.

Dr Zaidu Abubakar the executive chairman making a remark

Dr Zaidu Abubakar the executive chairman making a remark

He expressed appreciation to the Kano State Governor, Abba Kabir Yusuf, for providing political support to the agency’s reforms and modernization efforts.

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“We thank Governor Yusuf for all the political support given to the service. We are also grateful to our technical partners whose contributions have been commendable,” the chairman added.

Dr. Abubakar disclosed that the agency has embarked on a series of infrastructural and technological upgrades aimed at modernizing tax administration in the state. He noted that the service had already commissioned the Gyadi-Gyadi Tax Centre and a new call centre to improve taxpayer engagement and service delivery.

He further announced that another tax office located in Nassarawa would be commissioned within the next two weeks to oversee municipal tax operations in the area.

The chairman also highlighted improvements in operational equipment and digital infrastructure within the service. According to him, before the current administration assumed office, the agency had only 60 computers, but the number has now risen to over 300.

“We are working to provide all the necessary equipment needed for effective service delivery. I want to call on every member of staff to take their responsibilities seriously,” he stated.

Dr. Abubakar also revealed that the Kano State Government was considering improved welfare packages for workers in the revenue service. He said plans were underway to remove staff remuneration from the mainstream civil service structure and align it with better-performing revenue agencies in states such as Lagos.

“The state governor is committed to improving the welfare package of workers so it can be in tandem with what is obtainable in states like Lagos,” he said.

Also speaking at the event, the Director of Revenue Compliance, Muhammad Abba Aliyu, described the commissioning as a major opportunity for staff of the compliance and enforcement department.

He urged workers under the unit to adopt a renewed attitude toward their duties and take advantage of the improved working environment to increase performance.

“This is a golden opportunity for the commissioning of the Compliance and Enforcement Office. I urge all staff under the office to change their attitude from today and double their efforts,” he said.

A representative of Mannan Professional Services, technical partners to the revenue service, expressed appreciation for being part of the initiative and voiced confidence that the compliance team would effectively utilize the new facility in carrying out its responsibilities.

In his remarks, the Kano State Commissioner of Finance, Dr. Aliyu Danmaraya, who was represented by the Permanent Secretary of the ministry, Amina Yusuf Yargaya, commended the efforts of the revenue service toward improving tax compliance and boosting state development.

He noted that effective revenue generation remains one of the most important strategies for sustainable economic growth and infrastructure development in Kano State.

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NDA Announces Date for Nationwide Screening Test

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By Yusuf Danjuma Yunusa

The Nigerian Defence Academy has announced that its Screening Test for the 78 Regular Course will hold on Saturday, 13 June 2026 across all states of the federation and the Federal Capital Territory.

In a statement issued on its X handle on Tuesday and signed by the Academy Registrar, the institution said the exercise is open only to candidates who scored 180 and above in the Unified Tertiary Matriculation Examination conducted by the Joint Admissions and Matriculation Board in April 2026, and who selected the NDA as their first-choice institution.

According to the NDA, eligible candidates will receive an email on 20 May 2026 directing them to select their preferred state for the screening test.

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The academy noted that this step is necessary for the allocation of examination centres nationwide.

The statement added that candidates must complete their selection of preferred test location no later than 24 May 2026.

The NDA advised applicants to choose their state of residence as their examination location, emphasising that the screening exercise will be conducted simultaneously across the country.

It further stated that candidates will later be informed of their assigned centres in the first week of June 2026.

“The selection of location (State) of choice for the test is to be done latest by 24 May 2026,” the statement read.

It also assured candidates of timely communication and further instructions via email, stressing that the Academy remains committed to fairness and equal opportunity for all qualified applicants nationwide.

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EFCC Arrests Fleeing Ex-Power Minister, Saleh Mamman in Kaduna

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The Economic and Financial Crimes Commission, EFCC, has arrested a fleeing former Minister of Power, Saleh Mamman, in Rigasa area of Kaduna State.

Mamman was arrested in the early hours of Tuesday, May 19, 2026 following weeks of intensive surveillance and intelligence gathering by operatives of the Commission.

Addressing journalists on the arrest, Executive Chairman of the EFCC, Ola Olukoyede, disclosed that the former minister went underground after he was convicted by the Federal High Court sitting in Abuja on corruption charges.

“On May 7, 2026, Justice James Omotosho found Mamman guilty on all 12 counts bordering on diversion of funds meant for the Zungeru and Mambilla hydroelectric power projects. The court convicted him in absentia after agreeing with the Commission that the prosecution had proved its case beyond reasonable doubt,” he said.

“For us, getting the convict to serve his jail terms is extremely important in view of the seriousness with which we are tackling corrupt practices. It is this resolve that made us deploy intelligence to tracking and arresting the convict. We will process his transmission to the Correctional Centre accordingly”, he said.

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Justice Omotosho had, in his judgment, held that the EFCC successfully established that Mamman and his associates diverted not less than N22 billion meant for the execution of critical power projects. The court further held that the defence failed to present credible evidence capable of discrediting the prosecution’s case.

The judge condemned the diversion of public funds earmarked for the Zungeru and Mambilla hydroelectric projects, describing the act as a gross abuse of public trust. He also noted that the convict deployed proxy companies and associates to siphon and benefit from funds meant for critical national infrastructure.

Mamman, who served as Minister of Power between 2019 and 2021 under the administration of former President Muhammadu Buhari, supervised Nigeria’s power sector and major hydroelectric projects, including the Mambilla and Zungeru power projects.

Following his conviction, the court ordered that he be arrested and produced before it on May 13, 2026, for sentencing. However, the convict failed to appear in court on the scheduled date, prompting the court to proceed with sentencing in his absence.

Justice Omotosho subsequently sentenced Mamman to seven years imprisonment each on Counts 1, 2, 3, 6, 7, 8, 9, 10, 11 and 12 without an option of fine. He was also sentenced to three years imprisonment on Count 4 with an option of N10 million fine and two years imprisonment on Count 5 without an option of fine.

The court further ordered that the sentences run consecutively, bringing the total jail term to 75 years.

Apart from the conviction, Mamman is also facing another corruption trial before the Federal Capital Territory High Court, Abuja, over alleged N31 billion fraud.

On May 11, 2026, Justice Maryanne Anenih issued a bench warrant for his arrest following his failure to appear for proceedings in the matter involving him and seven others.

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