News
Dangote refinery capable of solving Nigeria’s forex problems; catalysing economic devt, says S&P Global
Nasiru Yusuf Ibrahim
International financial analytics corporation, S&P Global, has described the 650,000 barrels per day (bpd) Dangote Oil Refinery and Petrochemicals company as capable of resolving Nigeria’s foreign exchange (forex) issue and its huge pressure on the local Naira currency, while also catalysing the country’s economic development.
KANO FOCUS reports that S&P Global, headquartered in Manhattan, New York City, disclosed this during an onsite visit to the Dangote Refinery at Ibeju-Lekki, Lagos as part of its sovereign credit ratings assessment of Nigeria. The team from the international rating agency were accompanied by officials from the Federal Ministry of Finance.
S&P noted that the largest single-train refinery complex in the world would bolster Nigeria’s oil sector and, more importantly, also have a positive impact on its growing economy.
Director and Lead Analyst, Sovereign and International Public Finance Ratings, S&P Global Ratings, Ravi Bhatia, who led the delegation to Lagos, said Dangote refinery would transform Nigeria into a net exporter of petroleum products. He added that this transformation is expected to boost revenue generation and alleviate the current pressure on the country’s foreign exchange reserves.
“It is a very impressive facility, able to process 650,000 barrels a day, when in full capacity. It is the largest single-train refinery complex in the world. It came out quite quickly. Nigeria is a big exporter of crude but has issues with importing refined fuels. So, there is a gap in the market where crude can be refined in Nigeria, save money that way, and potentially save some foreign exchange. This will be positive for the economy in the medium term. It looks positive from our assessment,” Bhatia said after an over four-hour tour of the facility.
Also, in a chat with the media, Vice President of Oil and Gas at Dangote Industries Limited (DIL), Devakumar Edwin, who led the team during the tour of the facility, reiterated that by harnessing Africa’s abundant crude oil resources to produce refined products locally, the company aims to catalyse a virtuous cycle of industrial development, job creation, and economic prosperity. He also revealed that, as earlier promised, the company will start the production of premium motor spirit (PMS), this month (July).
Noting that products from the $20 billion facility are of high quality and meet international standards, Edwin said it can meet 100 per cent of Nigeria’s demand for petrol, diesel, kerosene, and aviation Jet, with surpluses available for export.
The S&P team commended the President of Dangote Industries Limited, Aliko Dangote, for integrating advanced technologies and quality control measures, including a state-of-the-art Central Control Unit ensuring smooth automation of operations.
Other members of the team of the international rating agency include the Associate Director, Sovereign Ratings, Maxmillian McGraw; Director, Corporate Ratings, Omegu Collocott; Senior Analyst, Bank Ratings, Charlotte Masvongo, and Director, Financial Services, Samira Mensah.
Currently operating at 350,000 barrels per day capacity, Edwin said the refinery is slated to scale up to at least 500,000 barrels per day capacity by July/August, commencing the refining of petrol and ultra-low sulphur diesel.
He noted that the refinery, designed to process a wide range of crudes including various African and Middle Eastern crudes, as well as US Light Oil, conforms to Euro V specifications. In addition, it is designed to comply with US EPA, European Union (EU) emission norms, the Department of Petroleum Resources (DPR) emission/effluent norms, and the African Refiners and Distribution Association (ARDA) standards.
While noting that most refineries were built by foreign companies, he said it is a thing of pride that a Nigerian company designed and built the world’s largest single-train refinery complex while acting directly as its own Engineering, Procurement, and Construction (EPC) contractor. The refinery also incorporates a self-sufficient marine facility capable of handling the world’s largest vessels.
“The refinery can produce the best quality products in the world, Euro V grade. It is one of the energy-efficient refineries and it is highly environmentally friendly. It is sophisticated with a high level of automation. The largest single train refinery in the world is 100 per cent designed, engineered, and constructed by a Nigerian company as EPC contractor,” he said.
Nigeria, one of the world’s leading oil-producing countries, exports all its crude oil for refining and subsequently imports refined products due to a lack of operational refineries. It is estimated that Nigeria imports at least 50 million litres of petrol per day to meet domestic demand.
According to data from the National Bureau of Statistics (NBS) in its Foreign Trade Statistics for the Fourth Quarter of 2023, Nigeria spent approximately N12 trillion on the importation of petroleum products in 2023, including premium motor spirit (PMS), commonly known as petrol. This figure marks an 18.68% increase compared to the N10 trillion spent on fuel imports in 2022.
Nasiru Yusuf Ibrahim
The Kano State Executive Council, chaired by Governor Abba Kabir Yusuf, has approved a comprehensive package of developmental projects and interventions valued at over ₦69 billion, targeting critical sectors including infrastructure, education, healthcare, energy, and humanitarian support.
KANO FOCUS reports that this was contained in a statement issued by the Governor’s Spokesperson, Sunusi Bature Dawakin Tofa, on Thursday.
During its 29th meeting held on Wednesday, July 9th 2025, the Council granted landmark approvals aimed at improving service delivery and raising the living standard of citizens.
Among the biggest investments is the expansion of Katsina Road, covering the stretch from Baban Gwari Roundabout to Mil Tara, which includes the construction of five reinforced concrete pedestrian bridges at a cost of ₦24.7 billion.
Additionally, the Council approved the rehabilitation and asphalt overlay of RMK Flyover, IBB Road, Kofar Mazugal Junction, and Katsina Road with a budget of ₦7.8 billion, and the construction of 10 new concrete pedestrian bridges at strategic locations, valued at ₦3.8 billion.
In the education sector, approvals include the renovation of 13 closed boarding schools earlier shut down by the previous administration at ₦3 billion.
The Council also approved general renovation of dilapidated structures in Government Technical College Dambatta, Government Technical College Ungogo, Government Girls Secondary School Balan Tsanyawa, and Government Secondary School Guringawa, totaling over ₦1.2 billion.
Other approvals include the establishment of a new primary school in Gishiri-Wuya community, Warawa LGA, at ₦190 million, renovation of the French and Chinese Bilingual Colleges in Kwankwaso at ₦158 million and ₦349 million, respectively, the conduct of 2025 internal examinations (BECE/BEICE & SSQE/SAISQE) at ₦300 million, and the settlement of outstanding boarding school feeding liabilities for three weeks at ₦718 million.
The health sector interventions approved by the Council include counterpart funding of ₦180 million for the Free Maternal, Neonatal and Child Health programme, ₦240 million for the procurement of a brand-new Toyota Coaster bus for the School of Health Technology, Bebeji, ₦107 million for operational needs of the Kano Ultra-Modern Specialist Hospital (KUSH), and ₦344 million as counterpart funding for routine immunization for the second quarter of 2025.
The Governor, during the session, reiterated his administration’s resolve to turn Kano into a hub of modern infrastructure, inclusive development, and educational excellence.
The Adolescent Girls Initiative for Learning and Empowerment (AGILE) project has increased the annual Conditional Cash Transfer (CCT) from N20,000 to N60,000 per beneficiary as part of renewed efforts to enhance girls’ education in Kano State.
KANO FOCUS reports that this was revealed during a sensitization campaign on the CCT program held in Gwarmai town, Bebeji Local Government Area.
Speaking at the event, the National CCT Coordinator of the AGILE project, Dr. Kubrah Muhammad, emphasised the importance of utilising the funds effectively to support and improve girls’ access to quality education.
Dr. Kubrah Muhammad,
Dr Muhammad urged parents, students, and other stakeholders to spread the message and ensure the sensitisation efforts are cascaded across communities for wider impact.
Also speaking, the Kano State AGILE CCT Component Lead, Malam Naziru Surajo, disclosed that a total of 45,850 students have so far been enrolled under the initiative in the state.
He noted that Bebeji LGA is one of the 19 participating local governments in Kano, with 4,984 girls currently benefiting from the program.
Malam Surajo highlighted that since the introduction of the CCT, girls’ school enrollment has seen significant improvement, rising by 31% overall, with 35% at the junior secondary level and 27% at the senior secondary level.
Malam Naziru Surajo
He further explained that the cash transfer comes with key conditions, including maintaining a minimum of 70% school attendance, which must be sustained for continued eligibility.
The District Head of Bebeji, who doubles as ‘Yan Dakan Kano, Alhaji Sarki Yusuf Bayero, emphasized the need for men to fulfill their responsibilities effectively, particularly in the context of supporting girls’ education.
He reiterated that the funds are meant for the students’ educational welfare, but should be managed wisely by parents.
Alhaji Sarki Yusuf Bayero (Yan Dakan Kano)
He cautioned that the CCT should not become a source of conflict within families, stressing that either parent can responsibly utilize the funds, provided they are used for the intended purpose of promoting education
“The most important thing is for parents to inculcate good moral values on their children to make them useful to society.”
Some parents of beneficiaries, Malam Abdu Gwarmai and Haulatu Musa, asked questions related to the CCT.
Nasiru Yusuf Ibrahim
The AGILE Project is a World Bank-assisted initiative implemented through Federal and State Ministries of Education, aimed at improving secondary education opportunities for adolescent girls in Nigeria.
Nasiru Yusuf Ibrahim ANIPR,
Communication Officer,
AGILE Project, Kano.
Headlines
Gov Yusuf Clears N22 Billion from N48 Billion Backlog of Retirees’ Gratuities and Death Benefits
Nasiru Yusuf Ibrahim
In a determined push to restore dignity to pensioners and families of deceased workers, Kano State Governor, Alhaji Abba Kabir Yusuf, has so far settled ₦22 billion out of the inherited ₦48 billion backlog of unpaid retirees’ gratuities and death benefits.
KANO FOCUS reports that the Governor’s bold intervention comes as he approved the fourth tranche of payments, amounting to ₦6 billion, bringing relief to hundreds of retirees and next-of-kin who have awaited their entitlements for years.
Governor Yusuf had earlier disbursed ₦5 billion in the first tranche, followed by ₦6 billion each in the second and third tranches, demonstrating a sustained commitment to offsetting the massive debt left by the previous administration.
A statement from the Government spokesperson Sunusi Bature Dawakin Tofa described the payments as part of the Governor’s broader agenda to address long-standing liabilities and reposition Kano State as a model of responsible governance.
“Governor Yusuf remains resolute in his pledge to pay every kobo owed to our retirees and the families of our late civil servants,” the statement read.
The settlement of these outstanding gratuities and death benefits not only alleviates the hardship faced by affected families but also reaffirms the administration’s promise to restore trust in government and uphold social justice.
Governor Yusuf further assured that the remaining balance will be cleared in subsequent tranches, ensuring that no pensioner or bereaved family is left behind.
This unprecedented intervention reflects the Governor’s people-centered governance, bringing hope to thousands whose sacrifices built the foundations of Kano State.
Kano Govt approves over ₦69b on transform infrastructure, education
AGILE Project increases girls’ education grant to N60,000 in Kano
Gov Yusuf Clears N22 Billion from N48 Billion Backlog of Retirees’ Gratuities and Death Benefits
Kano Governor Appoints New Chief of Staff, DG Special Services
MNCNH champions empowered to reduce maternal deaths from postpartum hemorrhage
NDLEA Kano uses Dambe to combat drug abuse
Kano Govt declares Thursday public holiday for Islamic new year
Mangal spends N80m to sponsor urology surgery for 3,000 vulnerable
Stakeholders converge in Kano, advocate local government reforms
