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Dangote Refinery Will Generate $21billion, To Employ Over 100,000 Youths

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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 the 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.

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.

“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.

BIG STORY

How Tokunbo Wahab Has Been Tackling Lagos’ Environmental Challenges — By Babajide Fadoju

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As the year 2024 winds down, Barrister Tokunbo Wahab, the Lagos State Commissioner for Environment and Water Resources, has cemented his position as one of the State’s most impactful leaders.

At a time when Lagos faces immense challenges ranging from waste management to flooding, Wahab has not only spearheaded transformative policies but has actively driven their implementation with visible results.

His hands-on approach and commitment to sustainability have reshaped the environmental landscape of the bustling megacity, earning him recognition as a leader who prioritizes action over rhetoric.

This year, Lagosians witnessed a determined fight against pollution, a bold restructuring of waste management systems, and an unwavering commitment to enforcing environmental laws. Under Wahab’s stewardship, the Lagos State Ministry of Environment and Water Resources has not only addressed long-standing issues but has also set a foundation for future resilience. This is not mere administration —it is leadership rooted in urgency, creativity, and a deep understanding of the environmental and infrastructural challenges facing the state.

As Lagos grapples with rapid urbanization, climate change, and the pressures of being Nigeria’s economic hub, Wahab’s efforts remind us that sustainable development is achievable when there is political will and a sense of purpose. From innovative waste-to-wealth initiatives to tackling open defecation and protecting Lagos’ green spaces, here’s an in-depth look at what Wahab has accomplished in 2024 and why his leadership matters.

Transforming waste management and sanitation: Waste-to-wealth initiatives and partnerships

This year marked a turning point in Lagos’ approach to waste management. Wahab, as the Man in charge of Environment, introduced waste-to-wealth programs designed to convert the City’s 13,000 tons of daily waste into valuable resources such as compost, energy, and recyclable materials.

Collaborating with private-sector partners, the state signed agreements to establish modern recycling plants and waste conversion facilities, creating a model that not only addresses waste disposal but generates economic opportunities. These initiatives have also provided jobs for informal waste pickers, integrating them into the formal economy.

Single-use plastics ban

In January 2025, Lagos will officially ban single-use plastics—a significant policy shift announced by Wahab this year. To prepare for this transition, his ministry launched an extensive public education campaign targeting businesses and residents, raising awareness about the environmental hazards of plastic waste. The ban, coupled with expanded recycling programs, is expected to significantly reduce plastic pollution, which has long plagued the city’s drainage systems and waterways.

Flood mitigation through better drainage systems

Flooding has been a perennial challenge in Lagos, particularly during the rainy season. Wahab’s leadership saw a proactive response, with major drainage systems cleared across the state.

Notable projects include the restoration of System 6C (Lord Chosen Canal) and work along the Orchid Corridor, areas notorious for heavy flooding.

His ministry also collaborated with local communities, encouraging residents to keep drains free of debris and participate in cleanup efforts. These interventions have brought tangible relief to neighborhoods that previously suffered devastating floods.

Combatting open defecation

Wahab’s ministry intensified its campaign against open defecation this year, enforcing sanitation laws while commissioning public toilet facilities in densely populated areas.

The effort is part of a broader plan to improve public hygiene and prevent the spread of diseases linked to poor sanitation. Advocacy efforts reached schools, markets, and community centers, ensuring that the message of clean and accessible sanitation was widely understood.

Enforcing environmental laws and green standards: Noise and air pollution enforcement

Wahab’s crackdown on noise pollution was a defining moment in 2024. Several establishments, including churches, mosques, and nightclubs, were sealed for violating noise regulations under the Lagos State Environmental Management and Protection Law of 2017.

This enforcement has brought long-needed relief to residents affected by excessive noise and set a precedent for future regulatory compliance.

Combating illegal street trading

Illegal street trading, especially the roadside sale of livestock and sickly puppies, has posed environmental and public health risks.

Wahab ensured strict enforcement of the law this year, deploying Kick Against Indiscipline (KAI) operatives to address the issue. This action not only protected public health but also reinforced the rule of law in Lagos’ marketplaces.

Tackling expired products in markets

In addition to enforcing pollution laws, Wahab targeted the sale of expired products in Lagos markets. The ministry conducted inspections and penalized offenders while urging traders to prioritize consumer safety.

His zero-tolerance approach underscored the government’s commitment to public health.

Promoting sustainable real estate development

At the Lagos Real Estate Marketplace Conference & Exhibition, Wahab emphasized the importance of green standards in Lagos’ booming real estate sector.

Partnering with agencies like LAWMA, LASEPA, and LASPARK, he ensured that environmental protection remains a core principle in urban development.

Restoring ecosystems and empowering communities: Reviving green spaces and protecting wetlands

In 2024, LASPARK, under Wahab’s supervision, restored several green spaces across Lagos. Parks were renovated, tree-planting campaigns were launched, and wetlands were protected from encroachment. These efforts have not only improved air quality but also provided recreational opportunities for residents.

Public awareness and grassroots engagement

Wahab has been a vocal advocate for environmental stewardship, leading campaigns that emphasize community responsibility.

Through the #CleanerLagos initiative, he has inspired grassroots efforts to promote cleanliness in neighborhoods. His focus on behavioral change has resonated with residents, making environmental conservation a shared responsibility.

Integrated waste management systems

Recognizing the need for long-term solutions, Wahab’s ministry introduced integrated waste management systems that combine recycling, composting, and safe disposal.

This approach has streamlined waste processing and reduced the pressure on Lagos’ landfill sites, offering a sustainable path forward.

Improving access to potable water

The Lagos State Water Corporation, under Wahab’s direction, repaired critical pipelines, including those in Yaba, ensuring access to clean water for thousands of residents.

This achievement reflects the ministry’s broader commitment to infrastructure improvement.

Conclusion: A legacy of action and hope

Wahab’s leadership in 2024 represents a paradigm shift in how Lagos approaches its environmental challenges. His policies and projects demonstrate a clear understanding of the complex interplay between urban growth, environmental sustainability, and public health.

Beyond addressing immediate issues, Wahab has laid the foundation for a more resilient and sustainable Lagos.

His work has shown that leadership is not about lofty promises but about rolling up one’s sleeves and driving change where it matters most.

From combating flooding to enforcing environmental laws, from advocating for waste conversion to restoring green spaces, Wahab’s achievements this year are a testament to what is possible when determination meets vision.

As Lagosians look to 2025, the path forward is clear: building on the successes of 2024, embracing sustainable practices, and fostering a city where everyone plays a role in protecting the environment.

Tokunbo Wahab has not only set the bar high but has also shown us what true environmental stewardship looks like.

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Michael Abimboye Speaks On Food Items, Palliative To Ode-Omu Residents

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  • “Why we target aged, widows, and other vulnerables. Here is what this got to do with Governor Ademola Adeleke.”

 

Michael Abimboye, a Nigerian political communication consultant and journalist, has supported Osun Governor Ademola Adeleke’s palliative measures through the distribution of food items to residents of Ode-Omu communities in Ayedaade Local Government Area of the State.

Abimboye, who distributed the food items on Friday, September 6, said the Osun government has in the last few months, shown a high sense of responsibility through its commitment to alleviating the suffering of the masses.

In June, Adeleke-led government distributed rice palliative under the State Government Food Security Program in a bid to alleviate food scarcity and ensure food security. The distribution targeted a wide array of registered groups to ensure that the palliative reaches diverse segments of the population.

Among the beneficiaries are Labour Unions, the Inter-Party Advisory Council (IPAC), Civil Society Organizations, the Union of Pensioners, various Security Outfits, Ministries, Departments and Agencies (MDAs), Religious Associations, Market Unions, and Persons with Disabilities (PWDs), among other registered associations.

Before then, Adeleke rolled out free medical outreach in the state as palliative to cushion the effect of high cost of living. The Imole free medical outreach took place in Ilesa, Ile-Ife, Ede, Iwo, Ila, and Osogbo.

On his part, Abimboye, who is following the political footprint of Adeleke in Odeomu through the distribution of food items, emphasised the importance of the palliatives in mitigating the effects of food insecurity exacerbated by various socio-economic challenges.

“The governor has laid down a very good foundation, and the best we can do is to support his initiative. I am distributing palliatives in Ode-omu and its environs as part of my commitments to supporting the most vulnerable in our society,” he stated. “The economic situation in the country is terrible, and the little we can do for our people is to ensure that essential food items are accessible to provide relief and promote stability.”

“We’ve looked out for the aged, widows, and other vulnerables. Our goal is to ensure that they don’t beg to put food on their tables. Adeleke’s government has shown that it’s ready to address food insecurity, and the best I can do to support the state governor is to echo his proactive measures.

“I have come to distribute the food items myself because I want the beneficiaries to be those who really need them and would make judicious use of the palliatives,” Abimboye said.

He also urged other indigenes of Osun at home and in diaspora to continue to support the governor’s strides towards leading Osun to a promised land and eradicate poverty in the state.

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BREAKING: DSS Takes Over SERAP Abuja Office

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The Abuja office of the Socio-Economic Rights and Accountability Project (SERAP) has been taken over by officers from the Department of State Services (DSS).

In a statement released on Monday, SERAP denounced the action as an “unlawful occupation.”

The statement revealed that the DSS officers are demanding a meeting with SERAP’s directors.

“President Tinubu must immediately direct the SSS to end the harassment, intimidation and attack on the rights of Nigerians,” SERAP urged.

This is coming barely 24 hours after the organisation urged Tinubu to leverage his leadership and authority to instruct the Nigerian National Petroleum Company Limited (NNPCL) to promptly reverse the seemingly illegal and unconstitutional hike in the pump price of premium motor spirit, commonly known as petrol, at its retail outlets.

 

More to come…

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