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BUSINESS: Dangote Refinery Moves Petrol Production From June To Mid July, Cites “Slight Delay”

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Africa’s largest oil refinery, Dangote Refinery, has moved the date of production of premium motor spirit (PMS), popularly known as petrol, from June to the middle of July.

The President and CEO of the refinery, Aliko Dangote, made the new production date known to newsmen at the $20 billion facility in Lagos on Monday.

Dangote mentioned that the change in date was due to a slight delay, prompting the shift from the originally proposed June to mid-July.

The CEO said the refinery will commence production of petrol between 10 and 15 of July, while supply to local marketers will commence from the third week of the same month.

“We had a bit of delay, but PMS will start coming out by 10 to 15 of July. But then we want to keep it in tank to make sure that it settles. So by third week of July, we’ll be able coming out to take it into the market,” Dangote said.

Earlier reports had it that the Dangote refinery was expected to begin production and supply of petrol this month.

For instance, analyst at the Standard and Poor’s’ Global (S&P Global) Commodities Insights predicted that the refinery will start supply of petrol in the fourth quarter of this year, particularly in the month of June.

“We are starting to see signs of activities, but all eyes are on when we’ll start to see gasoline production will commence from that project. There is a significant amount of pressure from the Nigerian government for significant volume of that supply to be sent to the domestic market.

“In reality, when we see that start scale up is still subject to debate. Dangote has recently been espousing some punchy timelines. They have most recently been saying that they are looking to produce gasoline by May. But in reality, our analyst expect that would be something like the fourth quarter of this year in a more realistic timeline,” the analysts said.

Meanwhile, the refinery has begun the supply of jet fuel and diesel to domestic marketers in the country.

In addition, the $20 billion facility started exporting its first jet fuel cargo to Europe.

The first shipment, loaded onto the vessel “Doric Breeze,” left the Lekki Free Zone in Lagos on May 27th and is now on its way to Rotterdam, Netherlands, as per data from S&P Global Commodities at Sea.

The Dangote refinery is expected to significantly reduce Nigeria’s dependence on imported petroleum products.

Nigeria, despite being the most populous country in Africa and its top oil producer, ironically imports almost all of its fuel.

Primarily, this is attributed to the nation’s lack of sufficient refining infrastructure, a gap that the new refinery seeks to fill.

Dangote said the refinery is positioned to be one of the best petroleum refineries in the world.

“What we are doing is to be able to export petroleum products to anywhere and compete with any company. By next week, we’ll be producing about ten thousand ppm in terms of diesel which now what’s happening in that we import about 2 to 3 thousand. We will produce the best,” Dangote added.

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St. Ives Hospital Opens Ultra-Modern FESTAC Branch [PHOTOS]

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One of Nigeria’s fastest growing hospital groups and renowned fertility experts, St. Ives hospital has opened a new, ultra-modern branch at FESTAC, Lagos. The new hospital branch was declared open on Sunday, July 1, 2024 by the Group Medical Director of the hospital, Dr. Babatunde Okewale. Also in attendant at the event were members of the hospital’s advisory board which included Mr. Adesegun Ajibola, SAN, Mrs. Bisi Adeyemi and Mr. Gbenga Badejo and medical directors and staff from its other branches.

The newly opened branch at FESTAC brings the number of the hospital to 5, with the other locations being Ikoyi, Ikeja, Akowonjo and Abeokuta. Facilities at the 45-bed hospital includes a children’s play area, which has become one of the signatures of all its branches, family convenience room, nursing stations, delivery suite, pharmacy, neonatal unit, theatre, X-Ray room, radio diagnostic, fertility unit, IVF/ ART unit, andrology laboratory, IVF theatre, and an emergency/ observation room.

In her welcome address at the event, the hospital’s Chief Marketing Officer, Mrs. Kiki Okewale disclosed that the hospital’s mission has always been to offer dedicated consultant-led, technology-driven healthcare services to women, children, family and fertility in a friendly environment. In her words, ‘over the years, we have built a reputation for being a trusted healthcare provider, and our new FESTAC branch is a testament to our commitment to expanding our reach and enhancing the quality of care we provide’.

Reputed as one of the hospitals championing reversal of medical tourism in Nigeria, due to the outstanding success rate in IVF, St. Ives with the new, state of the art, ultra-modern branch at FESTAC will further push the frontier of the medical profession through the use of advanced technology, in delivering qualitative healthcare services to their patients. St. Ives hospital adopts a success oriented-approach towards fertility, which has seen it become the go to hospital for families facing the challenges of conception.

St. Ives Hospital is a multi-specialist hospital that began operation in 1996. The hospital offers dedicated specialist services in all matters of women, children and family/fertility healthcare. The hospital is well managed by a dedicated team of specialists and consultants with years of experience in the medical profession. They provide a wide range of specialist services in OBGYN, Pediatrics, medicine and surgery.

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MOHBAD: Late Singer’s Family Conducts Fresh Autopsy

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The family of late singer Mohbad (born Ilerioluwa Oladimeji Aloba) has ordered a second toxicology test to uncover the truth behind his mysterious death on September 12.

Following his burial the next day, Mohbad’s body was exhumed on September 21 for an autopsy, which was conducted on the same day.

However, in May, it was revealed that the pathologist conducting the autopsy informed the coroner that Mohbad’s body had decomposed by the time the test was performed, potentially compromising the results.

The new toxicology test aims to provide clarity on the circumstances surrounding his death.

The pathologist also said the cause of the singer’s death could not be ascertained.

Mohbad’s autopsy result from the Lagos State University Teaching Hospital (LASUTH) showed that “no significant gross finding” could be attributed to the singer’s death.

The toxicology “revealed the positive finding of Diphenhydramine, an anti-histamine; however, this concentration was not in a fatal or lethal range”.

Last month, the Aloba family rejected the autopsy result while also demanding an independent post-mortem and toxicology test.

In a statement on Tuesday, Monisola Odumosu, a member of Aloba’s legal team, said a two-part autopsy is being conducted on Mohbad.

She disclosed that the first phase had been carried out last week while the second part involved “a toxicology and histology test”.

The lawyer added that the procedure was witnessed by Joseph Aloba, Mohbad’s father, and a pathologist representing Wunmi, the late singer’s wife.

“The second autopsy as requested by the Aloba family and ordered by the Magistrate of the Coroner Court, Ms. T.A. Shotobi, was conducted on Friday, July 19, and Saturday, July 20, 2024. This autopsy is a two-part exercise, with the first part now completed,” the statement reads in part.

“If the cause of death cannot be determined from this initial examination, the second part will proceed, involving a toxicology and histology test on the necessary samples already obtained.

“This comprehensive procedure, conducted last Friday, was witnessed only by Mr. Joseph Aloba, the forensic pathologist appointed by Mr. Joseph Aloba and his team, legal representatives of both Mr. Joseph Aloba and  a pathologist appointed by Wunmi Aloba to observe the procedure.”

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Nigeria’s Foreign Reserves Now $37bn, Up By $2bn In 18 Days — CBN Governor Cardoso

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The country’s foreign exchange reserves have surged to $37.05 billion as of July 18 according to the Central Bank of Nigeria (CBN).

CBN Governor Yemi Cardoso announced this development during a press briefing on Tuesday, following the 296th Monetary Policy Committee (MPC) meeting in Abuja.

The reserves experienced a significant boost, rising by $2.35 billion from $34.70 billion at the end of June to $37.05 billion in just 18 days.

“As of July 18, 2024, external reserves stood at US$37.05 billion, compared with US$34.70 billion as of June 2024. This represents 11 months of import cover for goods and services,” Cardoso said.

However, according to data published by CBN and seen by TheCable, Nigeria’s foreign reserves stood between $35.93 billion as of July 18, and $36.23 billion as of July 22, less than what Cardoso presented.

On July 18, CBN approved the sale of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,450 per dollar to meet the demand for invisible transactions.

Days after, CBN said foreign currencies worth $106.5 million were sold to authorised dealers.

CBN said the aim is to improve supply in the FX market in tandem with its price stability mandate.

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