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Dangote refinery capable of solving Nigeria’s forex problems; catalysing economic devt, says S&P Global

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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.

 

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Insecurity, hunger have deepened Northern Nigeria’s distrust of Tinubu, Imam Gusau says

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The cleric urges the federal government to prioritise security, protect farming communities and provide direct relief to vulnerable households.

Nasiru Yusuf Ibrahim

The Chief Imam of Nagazi-Uvete Jumu’ah Mosque and the late Alhaji Abdur-Rahman Okene’s Mosque in Okene, Kogi State, Malam Murtadha Muhammad Gusau has called on President Bola Ahmed Tinubu’s administration to address insecurity and economic hardship in Northern Nigeria, saying the twin challenges have deepened public frustration and weakened confidence in government.

 

KANO FOCUS reports that in his Friday sermon delivered, the cleric said the grievances in the region were rooted primarily in persistent insecurity and the rising cost of living rather than ethnic differences or political disagreements.

 

The sermon, titled “A Sincere Cry From Northern Nigeria,” examined the government’s responsibility to protect citizens, ensure their welfare and uphold justice from the perspective of Islamic teachings.

 

Imam Gusau said banditry, terrorism and kidnapping had prevented farmers from accessing their farmlands, disrupted transportation and exposed families to persistent fear.

 

“Without peace, there can be no worship, no business, no education, no farming,” he said, arguing that protecting lives and property must remain the government’s foremost responsibility.

 

He added that the economic reforms introduced by the Tinubu administration, particularly the removal of petrol subsidies and the floating of the naira, had contributed to rising prices of essential commodities, including maize, millet and rice.

 

According to the imam, the combined effects of insecurity and inflation have placed an enormous burden on households, particularly in a region heavily dependent on agriculture and road transportation.

 

‘Security must come first’

 

Imam Gusau argued that economic recovery would remain difficult to achieve without lasting improvements in security.

 

He said farmers could not produce enough food if they were afraid to cultivate their land, while investments in businesses and other economic activities would yield limited benefits in communities affected by violence.

 

The cleric urged the federal government to intensify security operations in agricultural areas, protect vulnerable communities and ensure that farmers could return safely to their fields.

 

He also called for targeted food and agricultural support to reach vulnerable households directly, warning against the diversion of assistance through bureaucratic processes.

 

Although he acknowledged the administration’s reported security initiatives, the imam said more decisive action was needed to protect rural communities, highways and farming settlements.

 

He maintained that the success of the government should be measured not only by economic indicators or international engagements but also by whether ordinary Nigerians could travel safely, sleep peacefully in their homes and work on their farms without fear.

 

Leadership as a trust

 

Imam Gusau said Islamic teachings regard leadership as a sacred responsibility, or amanah, for which those in authority would be held accountable before Allah.

 

Quoting a prophetic tradition reported in Sahih al-Bukhari, he reminded leaders that every person entrusted with responsibility would be questioned about those under their care.

 

He cited the example of Umar ibn al-Khattab, the second Caliph of Islam, whose concern for the welfare of citizens was reflected in accounts of his personal efforts to understand the difficulties facing ordinary people.

 

The imam said the example illustrated the importance of accountability, compassion and responsible use of public resources.

 

He also referred to the Islamic legal maxim that the exercise of authority over citizens must be guided by their welfare and best interests.

 

According to him, government policies should prioritise the protection of lives, education, healthcare, family welfare and economic security, particularly for the most vulnerable members of society.

 

He explained that these responsibilities were consistent with the higher objectives of Islamic law, known as Maqasid al-Shariah, which include the preservation of life, religion, intellect, lineage and wealth.

 

Calls for compassion and accountability

 

The cleric warned that persistent insecurity and hardship could further alienate citizens if the government failed to respond to their concerns with practical measures.

 

He urged leaders to demonstrate compassion through policies that directly address the needs of ordinary Nigerians rather than relying solely on assurances of future prosperity.

 

He also condemned the activities of bandits, terrorists and kidnappers, stressing that Islam places a high value on human life and prohibits the unjust killing of innocent people.

 

Imam Gusau called on communities to support victims of violence, assist displaced families and strengthen cooperation across religious and social divides.

 

He said collective solidarity was essential to preventing insecurity from destroying relationships and deepening divisions among Nigerians.

 

The imam also encouraged Muslims to remain steadfast in their faith, practise patience and seek Allah’s forgiveness while working to improve their circumstances.

 

He cautioned against allowing political frustration to weaken religious conviction, arguing that Muslims should combine prayers and repentance with personal integrity, compassion and responsible conduct.

 

However, he stressed that spiritual responses to hardship should not diminish the responsibility of leaders to protect citizens and provide for their welfare.

 

Urges Nigerians to uphold integrity

 

Imam Gusau further called on Nigerians to examine their own conduct, saying the fight against corruption and injustice should begin with individuals and communities.

 

He urged traders and business owners to avoid exploiting consumers through artificial price increases and dishonest practices, particularly during periods of economic difficulty.

 

He said citizens should maintain honesty, support one another and avoid despair despite the challenges facing the country.

 

The cleric concluded that Northern Nigeria needed peace, justice and economic relief, insisting that improved security and effective welfare measures would help restore public confidence and encourage cooperation between citizens and government.

 

**Mr Gusau is the Chief Imam of Nagazi-Uvete Jumu’ah Mosque and the late Alhaji Abdur-Rahman Okene’s Mosque in Okene, Kogi State.

 

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Kano Police return recovered car, motorcycle to owners

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Nura Abdullahi

 

The Kano State Police Command has handed over two recovered vehicles to their rightful owners following intelligence-led operations.

 

KANO FOCUS reports that the recovered properties, comprising an orange Vibe motor vehicle and an ash-coloured Haojue motorcycle, were formally handed over to their owners at the Command Headquarters in Bompai, Kano, during the week.

 

The command disclosed this in a press release issued on Friday, by its Police Public Relations Officer, CSP Abdullahi Haruna Kiyawa.

 

According to the statement, the handover followed the completion of ownership verification, authentication of relevant documents and other necessary procedures.

 

The beneficiaries expressed gratitude to the police, commending the command for its professionalism, commitment to justice and prompt return of their properties.

 

They described the recovery and handover as evidence of responsive and people-friendly policing.

 

The Commissioner of Police, Ibrahim Adamu Bakori, congratulated the owners and said the exercise aligned with the policing vision of the Inspector-General of Police, Olatunji Rilwan Disu.

 

The vision, according to the statement, emphasises the protection of lives and property, the return of recovered stolen property to victims of crime, and the promotion of public trust through transparent and accountable service delivery.

 

CP Bakori assured residents that the command would continue working to improve security across Kano State and ensure that recovered stolen property was returned to its legitimate owners after due verification.

 

The police urged anyone seeking further information to contact the investigating police officer on 08140081608 or visit the office of the Police Public Relations Officer at the Bompai Police Headquarters, Kano.

 

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JONAPWD Kano to hold leadership election Saturday

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Ibrahim Khalil

The Joint National Association of Persons with Disabilities (JONAPWD), Kano State Chapter, will hold its leadership election on Saturday, October 10, 2026, to elect new executives for the association.

KANO FOCUS reports that the election will take place at the Social Welfare Department, Gyadi-Gyadi Court Road, Kano.

Ahead of the exercise, the Chairman of the JONAPWD Kano State Chapter Electoral Committee, Malam Yusha’u Ibrahim Kofar Waika, has urged members, accredited delegates and representatives of the various disability clusters to arrive at the venue on time.

He said punctuality and adequate preparation were necessary to ensure a smooth and orderly electoral process.

Kofar Waika also called on all disability clusters to make the necessary arrangements and participate actively in the election.

The exercise is expected to usher in a new leadership for the association in Kano State.

The election is an important step towards strengthening democratic participation, unity and inclusive leadership among persons with disabilities in the state.

It is also expected to support effective representation and advocacy for the rights and welfare of persons with disabilities.

 

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