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Dangote Targets $30bn Revenue To Strengthen Naira 

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President of Dangote Group, Aliko Dangote, has said his businesses’ $30bn revenue target by the end of 2025 will boost the naira.
Dangote stated this on Sunday during a tour of Dangote Petroleum Refinery & Petrochemicals, and Dangote Fertiliser Limited by media executives, indicating a plan to attain independence from the Central Bank of Nigeria in foreign exchange sourcing.
He said the expected significant inflow of forex into Nigeria through his businesses will automatically boost the value of our local currency and make the naira regain its value in the comity of international currencies worldwide.
The refinery began full operations in 2024, initially focusing on refining intermediate products, such as polypropylene, naphtha, RCO, petrol, diesel, and jet fuel.
He explained that the refinery entered its steady-state production phase in March 2024.
He anticipated production ramping up to 500,000 barrels per day with 15 crude cargoes per month by August, increasing to 550,000 bpd by the end of the year, and aiming for 650,000 bpd by the first quarter of 2025.
“Petrol production will commence in July with sales from August”, he assured.
He also revealed that the group intends to list Dangote Petroleum Refinery & Petrochemicals and Dangote Fertilizer Limited on the Nigerian Exchange Group in the first quarter of 2025.
He added that this initiative would enable Nigerians to participate in the ownership of these companies.
“Due to the nature of our business with both the refinery and the fertiliser, we are aiming to list them by the end of this year.
“However, depending on circumstances, worst-case scenario, we anticipate listing them before the end of the first quarter of next year.
“This will allow us to offer shares for sale and enable Nigerians to participate as shareholders”, Dangote stated.
The Dangote Refinery, which will process 650,000 barrels per day at full capacity, stands as Africa’s largest oil refinery and the world’s largest single-train facility.
Also, Dangote Fertiliser Limited operates Africa’s largest granulated urea fertiliser complex.
Currently, Dangote Cement is Nigeria’s most capitalised company.

While noting that the total storage capacity of the refinery is 4.5 billion litres, sufficient to cover 20 days of Nigeria’s crude requirement and store products equivalent to 15 days of Nigeria’s petrol consumption, he stressed that the refinery would produce 53 million litres of petrol per day and 1.1 million tonnes per day.

He added that the refinery was equipped with dedicated loading gantries featuring 86 loading bays, along with specialised marine facilities for the offloading of crude and the loading of petroleum products.

The facility, he said, included a 900-kilotonne per annum polypropylene plant, with production capacities of 36,000 tonnes per annum for sulphur and 585,000 tonnes per annum for carbon black.

The Vice President of Oil and Gas, Dangote Industries Limited, Devakumar Edwin, reiterated the commitment of the company to enhance local capacity in critical sectors of the economy.

He said Dangote Industries Limited had empowered young Nigerians to assume key roles across its operations, with many even becoming expatriates in other nations.

Edwin stressed the refinery’s status as the world’s largest single-train complex constructed entirely by a Nigerian company, highlighting a significant achievement in local engineering and construction capabilities.

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Fubara Lauds Andonis For Support, Commends Chairman Over Empowerment Programme 

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Rivers State Governor, Sir Siminialayi Fubara, has commended the people of Andoni for their strong support to his administration.
Governor Fubara, represented by the Speaker of the Rivers State House of Assembly, Rt Hon. Victor Oko-Jumbo, said this at Ngo Town, headquarters of Andoni Local Government Area, during the second phase of the economic empowerment programme of the LGA.
The Governor also commended the Caretaker Committee Chairman of the council, Hon. Reginald Ekaan, for keeping to his  directive to CTC chairmen to embark on economic empowerment for their people and urged him not to rest on his oars, but continue with the programme until the last day of his administration.
The Governor also commended the leadership of the Simplified Movement in Andoni and that of the Peoples Democratic Party (PDP) for bringing the vision of the governor to the nooks and crannies of the area.
Speaking, the House of Representatives member representing Andoni, Opobo/Nkoro Federal Constituency, Rt Hon. Awajinombek Abiante, commended Governor Fubara for opening up the economic space for Rivers people.
Rt Hon. Abiante described the event as an indication that the Governor has opened the economic space of Rivers state to the people, adding that it would surely address the issue of poverty in Andoni.
He urged beneficiaries of the programme not to see the items given to them as articles of trade, stressing that they were meant to economically empower them and their families, while calling on them to continue to give the Governor the desired support.
Rt Hon. Abiante, who is the leader of the Simplified Movement in Andoni, decried the dirty politics bedevilling the state, stressing that it was dragging the state backwards.
Also speaking, the CTC Chairman, Barrister Ekaan, said that his administration had provided solarised borehole to Ajakajak community while 700  persons were provided with financial empowerment.
He listed items for empowerment to include 12 mini buses, cars for caretaker committee members, 899 bags of 25 kg rice, 450 bags of maize and 99 bags of garri.
The rest were: 12 sewing machines, 12 barbing saloon clippers, 12 sets of electricity generators, amongst others.
Earlier, chairman of the occasion, Chief David Ibiamu Ikanya, commended the CTC chairman for the empowerment programme and urged everyone to continue with their support to Governor Fubara.

By: John Bibor

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Rivers Assembly Screens, Confirms Fubara’s RSBOPP Nominees

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The Rivers State House of Assembly, last Friday, screened and confirmed Governor Siminalaye Fubara’s nominees for Chairman and members of the board of The Rivers State Bureau On Public Procurement (BoPP).
The nominees were: Barrister Lawrence Oko-Jaja (SAN), Chairman; Dr Mina Ogbanga, member and Engr Adokiye Oyaghiri member.
Others were: Barr Selinah Amonieh, member; Engr Iseleye Amachree, member; Chief Gift Alex Hart, member; Mrs Grace Osaronu, member and Ernest Ibekwe Ekwe, member.
The Speaker, Rt Hon. Victor Oko-Jumbo, prior to the commencement of the screening and confirmation exercise, read a letter from the state governor, Sir Siminalaye Fubara, requesting the screening and confirmation of the nominees as Chairman and members of The Board of The Rivers State Bureau On Public Procurement.
Speaking shortly after the exercise, Rt Hon. Oko-Jumbo told the Chairman and board members designate that they owed the state a duty of ensuring probity, transparency and accountability as far as the state procurement process is concerned.
He expressed optimism that they would bring their wealth of experience to bear in their new assignment.
The Speaker later directed the Clerk of the House to convey the House’s resolution to the Governor.
In his own remarks, the House Leader, Hon. Sokari GoodBoy Sokari, said it behoved on them to assist the state governor in the ongoing infrastructural revolution across the state.
Hon. Sokari urged them to put the state first, stressing that they were expected to use their position to advance the betterment of the grassroots.
On his part, the Deputy Speaker, Rt Hon. Orubienimigha Timothy, described the nominees as men and women of unimpeachable character who would surely bring their wealth of experience to bear as far as the procurement process of the state is concerned.
Responding to a question from the Deputy Speaker, the Chairman designate of the BoPP, Barrister Oko-Jaja, said that their job was simply value for money, value for goods and services.
He said that their duty was that of a market survey with the view to getting the best for the state as far as pricing of projects are concerned.
According to him, when they assume duty, they would work to ensure that no service provider is pitched against the government.
The Chairman designate also said that human capacity development will top their agenda.
Meanwhile, the House has adjourned to the 4th of September, 2024 for continuation of sitting.

By: John Bibor

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APC Leadership Tussle: N’Central Forum Frowns At Gov Sule’s Support For Ganduje

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The North Central All Progressives Congress (APC) Forum has condemned the endorsement of the embattled National Chairman of the party, Dr Abdullahi Ganduje, by the Chairman of the North Central Governors’ Forum and Nasarawa State Governor, Abdullahi Sule.
Speaking with newsmen on Saturday at the forum’s headquarters in Jos, the Plateau State capital, the Chairman of the Forum, Alhaji Saleh Zazzaga, said the courtesy visit Governor Sule paid to the party secretariat in Abuja on Friday to pledge his support for Dr Ganduje was for selfish and personal interest and not the interest of the North Central region, the APC or the President Bola Tinubu’s administration.
The chairman said such endorsement by Governor Sule, which came at a time when the party stakeholders from the region were pushing for the return of the National Chairmanship position to the North Central, was not only insensitive and mischievous, but also an act of betrayal of the entire region.
Alhaji Zazzaga, who was also a member of the Presidential Campaign Council in the 2023 election, pointed out that Governor Sule was well aware that the National Chairmanship position, according to the party arrangement and zoning, ought to be for the North Central after the resignation of Senator Abdullahi Adamu, who is not only from the North Central region but also from Governor Sule’s own state of Nasarawa.
For Governor Sule to openly come out and betray his state and the entire region shows that he is someone who is not after the progress of his own state, the North Central region, and he is not a man of equity and justice, Alhaji Zazzaga stressed.
He also alleged that, from the outset, Governor Sule did not support President Tinubu and did everything to halt his emergence as the APC presidential candidate, because he (Governor Sule) was nursing a vice presidential ambition with another APC presidential candidate.
“Governor Sule is not a founding member of the APC because he came in along the line, and so he does not understand the progressive ideology and drive of the party.
“That is why he is doing things that are contrary to the concept of the party stakeholders, chieftains, bigwigs and members, as well as supporters.
“Besides we all know that in the 2023 election, the APC in Nasarawa State didn’t perform satisfactorily under Governor Sule; this is obvious in the number of the legislative seats that were won by the party and as well as the ones the opposition parties clinched.
“It is also a known fact that Governor Sule didn’t do well also at the 2023 polls, and if not for the judiciary which upheld his election, anything could have happened and APC would have lost the state.
“By and large, what has been Governor Sule’s contribution to the progress of the APC since he joined the party? Again, what has been his development indices and strides in Nasarawa State? With the increase in allocation gotten by the states today, what has Nasarawa State been able to do or has to show under Governor Sule?
“And time and again, we have had grumblings in many quarters about the leadership style of Governor Sule in the state which many frown upon.
“Therefore, he is not a good ambassador of the party and he is, by no means, in a position to speak for the North Central region or stakeholders of the party,” he said.
Alhaji Zazzaga, therefore, called on all the North Central governors to disassociate themselves from Governor Sule’s endorsement of Dr Ganduje immediately, stressing that whatever he was doing was for his selfish interest and not the interest of the North Central region.
“Moreover, we all know that Governor Sule is not a firm supporter of President Bola Tinubu, and he will do anything to bring his administration to dispute, and endorsing Ganduje is one of such, since Ganduje has already incurred legal liabilities and other disaffections for the party as the National Chairman.
“And even the Edo and Ondo elections, which Ganduje’s leadership produced the APC flag bearers, could be another mistake as he lacked the legitimacy to do that as his position is being contested and unrecognized. And so his action in Edo and Ondo could be another future legal liability,” he added.

 

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