Connect with us

Headlines

Dangote Refinery Will Boost Growth of Downstream Sector in 2022, CPPE, Others Affirm

Published

on

Mukhtar Yahya Usman

The Centre for the Promotion of Private Enterprise (CPPE), an economic advocacy group, has identified Dangote Petroleum Refinery as one of the key expected drivers of growth that would impact positively on the downstream sector of the Nigerian economy in 2022.

Likewise, Financial Derivatives Company Limited, a financial institution, in its recent Economic Report for 2022, expressed a firm belief that Dangote Refinery would boost the growth of the downstream sector of the economy and enhance petroleum products distribution across Africa.

The Managing Director/CEO of Financial Derivatives Company, Bismarck Rewane, however, warned that the refinery, when operational, would not be a final solution to Nigeria’s economic crises. “The coming on stream of Dangote Refinery will no doubt enhance product distribution across Africa. Will Dangote refinery solve Nigeria’s problem? The answer is no. But the company is going to make Nigeria an exporter of refined petroleum products,” he added.

In a Nigeria Economic Outlook for 2022 released by the CPPE, its Chief Executive Officer, Dr Muda Yusuf said activation of the Petroleum Industry Act (PIA) in 2022 is expected to impact positively on the economic outlook.

“We expect to see positive outcomes as investor sentiments in the oil and gas sector improve on account of the reforms anchored on the PIA. This will however depend on the political will deployed to drive the implementation of the provisions of the Act.

It is also expected that the coming on stream of the Dangote refinery in 2022 will also impact positively on the downstream sector of the economy”, he added.

He said the average oil price in 2022 is expected to exceed the budgeted benchmark of sixty-two dollars ($62) per barrel, offering some fiscal headroom. This, he noted, would be powered by higher energy demand driven by the recovery of economic activities globally.

“This trajectory is expected to impact on our foreign reserve and strengthen the capacity of the Central Bank of Nigeria (CBN) to support the foreign exchange market”, Yusuf said.

He, however, added that if the Dangote refinery comes on stream in 2022, the fiscal pressure on the economy may abate, but not completely eliminated.

According to the economist, because the service sector is less vulnerable to the structural constraints of the economy, especially the real sector of the economy, it will continue to outpace the real sector in 2022.

He said, “The service sector of the Nigerian economy will continue to outpace the real sector in 2022. In the third quarter of 2021, the service sector contribution to GDP was 50 percent and the growth of the sector was 8.41 percent. The oil sector contribution to GDP was 7.5 percent while the non-oil sector contribution was 92.5 percent. While the industrial sector growth contracted by 1.63 percent, agriculture grew by 1.2 percent.”

Yusuf said the Gross Domestic Product (GDP) growth would remain fragile at about three percent, pointing out that the key expected drivers of growth would be sustained recovery of global oil price.

He said, “We expect that the average oil price in 2022 will exceed the budgeted benchmark of $62 per barrel, offering some fiscal headroom. This would be powered by higher energy demand driven by the recovery of economic activities globally.”

The economist noted that despite the downside risks, the economy would continue to present huge opportunities for investors across all sectors. “This is on account of the resourcefulness of the Nigerian people, especially the entrepreneurs.

Other inherent strengths of the Nigerian economy include the market size, the population, and the demographic characteristics”, he added.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

NUJ urges Kano residents to support task force on drug abuse

Published

on

 

Nasiru Yusuf Ibrahim

 

The Nigeria Union of Journalists (NUJ), Kano State Council, has called on residents to give maximum support and cooperation to the newly established Multi-Agency Task Force on Drug Abuse in the state.

 

KANO FOCUS reports that the union also commended the Kano State Government for establishing the task force and appointing Barr. Muhuyi Magaji Rimingado as its chairman.

 

The NUJ made the call in a communiqué issued at the end of its congress meeting held on Saturday, October 31, 2026, at the Press Centre Conference Hall in Kano.

 

The congress described the establishment of the task force as an important step towards addressing drug abuse and urged residents to cooperate with it to enable it discharge its responsibilities effectively.

 

The union’s position comes amid growing concerns over drug abuse and its associated social challenges, particularly among young people.

 

The congress also urged politicians and other political stakeholders to conduct their electioneering activities ahead of the 2027 general elections in accordance with established rules and regulations.

 

It called on political actors to shun thuggery, hate speech and defamatory statements capable of undermining peace and unity in the state.

 

On security and community relations, the NUJ urged the state government to urgently address recurring farmers-herders conflicts to prevent further loss of lives and destruction of property.

 

It stressed the need for proactive measures to promote peaceful coexistence between farming and herding communities.

 

The congress further called on the government and relevant agencies to intensify public awareness campaigns on fire prevention and safety, particularly as the harmattan season approaches.

 

While commending the government’s efforts to revitalise water supply and improve access to potable water in Kano metropolis, the union urged it to extend similar interventions to rural communities.

 

The NUJ also welcomed the recent cabinet reshuffle by Governor Abba Kabir Yusuf, describing it as a step towards strengthening governance and service delivery.

 

However, it appealed to the governor to consider appointing a professional from the media industry as Commissioner for Information and Internal Affairs, citing the strategic importance of the ministry.

 

On road safety, the congress called on traffic regulatory agencies to intensify public enlightenment and road-user education to reduce accidents amid ongoing infrastructure development and increasing traffic activities across the metropolis.

 

The union also congratulated the NUJ Kano State Council on securing the hosting rights for the forthcoming Media Security Summit, describing the development as a significant achievement for the council and the media industry.

 

At the meeting, the congress also filled the vacant position of Assistant Secretary with Comrade Mubarak Ismaila Madungurum, a journalist with Abubakar Rimi Television (ARTV), Kano.

 

The congress concluded with special prayers for departed colleagues and relatives, including Ismaila Garba Gwammja, the mother of the council’s Vice Chairman, Comrade Mustapha Gambo, and the wife of Comrade Dahiru Ibrahim Biso.

 

It prayed for the peaceful repose of their souls and for Allah to grant their families the fortitude to bear the losses.

 

The communiqué was signed by the NUJ Kano State Council Chairman, Comrade Sulaiman Dederi, and Secretary, Comrade Hauwa Zaharadeen.

Continue Reading

Headlines

Governor Yusuf swears in six commissioners, three advisers, 19 permanent secretaries

Published

on

 

Nasiru Yusuf Ibrahim

 

Kano State Governor, Abba Kabir Yusuf, has sworn in six newly appointed commissioners, three advisers and 19 permanent secretaries as part of efforts to strengthen governance and improve service delivery in the state.

 

KANO FOCUS reports that the ceremony followed the confirmation of the six commissioner nominees by the Kano State House of Assembly on October 26, 2026, after completing the legislative screening process.

 

The newly sworn-in commissioners are Air Commodore Salisu Yusha’u (retd.), assigned to the Ministry of Internal Security and Special Services; Ibrahim Namadi Dala, Investment; Prof. Sani Lawan Manunfashi, Higher Education; Muktar Ishaq Yakasai, Humanitarian Affairs and Poverty Alleviation; Dr Aminu Ibrahim Tsanyawa, Science and Technology; and Idris Garba Mustapha, Special Duties.

 

In a related development, the governor announced a minor cabinet reshuffle involving the redeployment of two commissioners to different ministries.

 

Under the new arrangement, Dr Ibrahim Abdullahi Waiya, who previously served as Commissioner for Information and Internal Affairs, has been moved to the Ministry of Youth and Sports Development.

 

Similarly, Hamza Kachaco has been redeployed to the Ministry of Environment.

 

The reshuffle leaves the Ministries of Information and Internal Affairs, as well as Solid Minerals and Mineral Resources, vacant pending further decisions by the state government.

 

According to a statement issued by the Director-General, Media and Publicity, Government House, Kano, Sunusi Bature Dawakin Tofa, the appointments and redeployments are aimed at strengthening government institutions, improving administrative efficiency and repositioning key ministries for effective service delivery.

 

The governor urged the new appointees to demonstrate dedication, integrity and commitment to their responsibilities, stressing the need to prioritise public interest and contribute to the development of the state.

 

He also charged them to work collaboratively in advancing his administration’s development agenda and delivering the dividends of democracy to the people.

 

Gov Yusuf congratulated the appointees and wished them success in their respective assignments.

Continue Reading

Headlines

Kano Cabinet Reshuffle: Waiya Moves from Information to Youths and Sports Ministry

Published

on

 

Ibrahim Khalil

Kano State Governor Abba Kabir Yusuf has redeployed the Commissioner for Information and Internal Affairs, Ibrahim Abdullahi Waiya, to the Ministry of Youths and Sports as part of a cabinet reshuffle involving eight ministries.

KANO FOCUS reports that under the new arrangement, Waiya moves from the Ministry of Information to the Ministry of Youths and Sports, while Hon. Hamza Safyanu Kachako has been transferred from the Ministry of Mineral Resources to the Ministry of Environment.

The reshuffle also assigns new commissioners to several ministries.

Hon. Yushau Soja has been assigned to the Ministry of Internal Security, while Hon. Idris Garba Mustapha will oversee the Ministry of Special Duties.

Similarly, Hon. Muntari Ishaq Yakasai has been assigned to the Ministry of Humanitarian Affairs, and Hon. Ibrahim Namadi Dala will head the Ministry of Commerce.

Other appointments include Hon. Ibrahim Tsanyawa as Commissioner for Science and Technology and Prof. Sani Lawal as Commissioner for Higher Education.

The reshuffle affects eight ministries, with the changes involving both new portfolio assignments and the redeployment of serving commissioners.

Continue Reading

Trending