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Dangote says Company’s projected $30bn revenue will boost the Naira value
Nasiru Yusuf Ibrahim
President of Dangote Group, Aliko Dangote, on Sunday stated that his company’s aim is to become the leading supplier of foreign exchange in the FX market soon, as it targets $30 billion in revenues by the year 2025.
KANO FOCUS reports that during a tour of the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited with media executives at the weekend, he said the plan is to attain independence from the Central Bank of Nigeria (CBN) in forex sourcing, highlighting a strategic shift in revenue composition within the cement business from the current 75 percent to 15 percent in the future.
The expected significant inflow of forex into Nigeria through his businesses, will automatically boosts the value of our local currency and make Naira regain its value in the comity of international currencies all over the world.
According to Dangote, the refinery began full operations in 2024, initially focusing on refining intermediate products such as polypropylene, naphtha, RCO, gasoline, diesel, and jet fuel.
He explained that the refinery entered its steady-state production phase in March 2024. Additionally, he anticipates production ramping up to 500,000 barrels per day (bpd) with 15 crude cargoes per month by August, increasing to 550,000 bpd by the end of the year, and aiming for 650,000 bpd by the first quarter of 2025.
“Petrol production is to commence in July with sales from August,” assured Dangote.
Dangote also hinted that the group intends to list both Dangote Petroleum Refinery & Petrochemicals and Dangote Fertilizer Limited on the Nigerian Exchange Group in the first quarter of 2025. He said that this initiative would enable Nigerians to participate in the ownership of these companies.
“Due to the nature of our business with both the refinery and the fertilizer, we are aiming to list them by the end of this year. However, depending on circumstances, worst-case scenario, we anticipate listing them before the end of the first quarter of next year. This will allow us to offer shares for sale and enable Nigerians to participate as shareholders,” Dangote stated.
The Dangote Refinery, which will process 650,000 barrels per day (BPD) at full capacity, stands as Africa’s largest oil refinery and the world’s largest single-train facility, while the Dangote Fertiliser Limited operates Africa’s largest Granulated Urea Fertiliser complex. Presently, Dangote Cement is Nigeria’s most capitalised company.
While noting that the total storage capacity of the refinery is 4.5 billion litres, sufficient to cover 20 days of Nigeria’s crude requirement and store products equivalent to 15 days of Nigeria’s petrol consumption, he stressed that the refinery would produce 53 million litres of petrol per day and 1.1 million tonnes per day.
He added that the refinery is equipped with dedicated loading gantries featuring 86 loading bays, alongside specialized marine facilities for the offloading of crude and the loading of petroleum products. Additionally, the facility, he said, includes a 900-kilotonne per annum polypropylene plant, with production capacities of 36,000 tonnes per annum for sulphur and 585,000 tonnes per annum for carbon black.
Dangote said that over the past four decades, the operations of Dangote Group have evolved significantly from a commodity trading company to a diversified conglomerate. He emphasised that this transformation was driven by the overarching goal of achieving self-sufficiency in key sectors and bolstering Nigeria’s economy.
He noted that the group, which began as a trading company in 1978, has expanded into a diversified conglomerate with investments spanning cement, agriculture, fertilizer, petrochemicals, oil & gas, auto assembly, infrastructure, and other sectors.
He said the group is driven by the idea that Africa’s future prosperity hinges on its ability to harness its own resources and capabilities. Dangote stressed that the continent inadvertently imports poverty and exports jobs by exporting raw materials and importing finished goods.
The Vice President, Oil and Gas, Dangote Industries Limited, Devakumar Edwin, reiterated the commitment of the company in enhancing local capacity in critical sectors of the economy.
He said Dangote Industries Limited has empowered young Nigerians to assume key roles across its operations, with many even becoming expatriates in other nations.
Edwin stressed the refinery’s status as the world’s largest single train complex constructed entirely by a Nigerian company, highlighting a significant achievement in local engineering and construction capabilities.
Noting that most refineries were built by foreign companies, he said it is a thing of pride that a Nigerian company, acting directly as Engineering, Procurement, and Construction (EPC) contractor, designed and built the world’s largest single train refinery complex. He said this has enhanced the capacity of many Nigerians involved in the process and that a Nigerian company can build a refinery anywhere in the world.
“It is a thing of pride that the largest single train refinery in the world is 100% designed, engineered, and constructed by a Nigerian company as EPC contractor,” he said.
While expressing gratitude to the media executives, Group Executive Director of Commercial Operations at Dangote Industries Limited, Fatima Dangote, reiterated the company’s dedication to creating a positive impact on the economy. She commended Aliko Dangote’s steadfast commitment to advancing the continent’s development.
“He (Dangote) is committed to ensuring the success of Nigeria and Africa as a nation and a continent. Our focus extends beyond profit to solving problems and achieving self-sufficiency across all sectors in Africa. By meeting global standards, we have positioned ourselves to export our products to every continent in the world,” she said.
Fatima pointed out that the group is not only the largest private employer of labour but also consistently ranks as one of the top taxpayers in the country each year, adhering to all relevant tax laws and regulations.
“We are known as one of the largest employers of labour. However, we are also conscious of ensuring our workers enjoy a good living standard. This is reflected in our inclusion in the list of top paying firms in the country. Our impact on employment generation extends to creating thousands of indirect jobs in the various communities that we operate in,” she added.
Aminu Abdullahi Ibrahim
The Kano State Ministry of Education’s Adolescent Girls Initiative for Learning and Empowerment (AGILE) Project, supported by the World Bank, has successfully renovated over 1,300 senior and junior secondary schools in the state in the last three years.
KANO FOCUS reports that the state commissioner for education, Alhaji Ali Haruna Makoda, disclosed this during a visit to the Karaye Emirate on Tuesday.
He added that the AGILE program has enrolled more than 30,000 girls through targeted outreach, grants, and its Second Chance education initiative.
Makoda further revealed that the state government has finalized plan to construct 130 new schools in rural communities, with over 35,000 girls already benefiting from financial assistance under the scheme.
He urged the Karaye Emirate to lend full support to the program and prioritize girls’ education.
In his remarks, the Emir of Karaye, Alhaji Muhammad Maharaz, pledged the emirate’s commitment to advancing girls’ education in Kano State.
He commended the state government and the commissioner for their dedication to the programme’s success.
“It is our collective responsibility to support this initiative,” the Emir stated, calling for measures to ensure beneficiaries complete their education with strong academic outcomes.
The commissioner’s delegation consist of the Kano State AGILE Project Coordinator, Malam Mujitapha Aminu and other members of State Programme Implementation Unit (SPIU).
Aminu Abdullahi Ibrahim
Bayero University Kano (BUK) on Monday celebrated the 50th anniversary of its Faculty of Education and inaugurated its Alumni Association at the Convocation Arena of the university’s new campus.
KANO FOCUS reports that the event was graced by government officials, education stakeholders, and alumni all gathered to commemorate the faculty’s contributions to Nigeria’s educational sector.
In her keynote address, the State Minister for Education, Mrs. Suwaiba Sa’id Ahmad announced the Federal Government’s Sector Renewal Initiative designed to transition Nigeria from a resource-based to a knowledge-based economy.
She highlighted that the aim of the renewal initiative consists of – Reducing the number of out-of-school children; combating learning poverty; nhancing skills development and human capital for the labor market
The minister noted that the initiative prioritizes Technical and Vocational Education and Training (TVET); Science, Technology, Engineering, and Mathematics (STEM); Digital literacy and education quality assurance.
Mrs. Ahmad disclosed that the Federal Government had disbursed ₦35 billion to 261 beneficiaries under the Nigerian Education Loan Fund (NELFUND), with BUK among the top beneficiaries.
“So far, the scheme has received 420 applications, and we are scaling up investments,” she stated.
She further confirmed that President Bola Ahmed Tinubu approved ₦120 billion to boost TVET programs, with plans to train 650 youths in technical, vocational, and digital skills over the next two years.
Emeritus Professor Sani Ahmad Sufi, former Permanent Secretary of the Ministry of Education, praised the faculty for its high-quality graduates.
“Our pride lies not just in the number of graduates produced yearly, but in their impact across Nigeria and beyond,” he said.
He added that the faculty has produced Nigeria’s largest pool of graduate teachers many of whom hold key positions nationally and internationally.
The National Chairman of the All Progressives Congress (APC), Dr. Abdullahi Umar Ganduje applauded the faculty for its significant role in advancing education in Nigeria.
The event concluded with awards presented to distinguished alumni and supporters of the faculty in recognition of their contributions to its growth.
Kano State Governor Abba Kabir Yusuf has emerged as a beacon of hope for graduates left stranded due to the previous administration’s negligence regarding academic certificates.
His determination to rectify these injustices has culminated in decisive actions to secure the future of Kano’s youth. Ibrahim Adam, the Special Adviser to the Governor on Information, shared these developments with the media.
On December 9, 2024, Governor Yusuf traveled to Cyprus with a mission to obtain the overdue academic certificates for Kano students affected by the prior administration’s failure to meet its educational financial obligations.
During a critical meeting with the management of Near East University, the governor focused on facilitating the release of certificates for students who graduated between 2015 and 2019, particularly in essential fields like Medicine and Nursing.
This was confirmed by Sunusi Bature Dawakin Tofa, the governor’s spokesperson.
In a significant move, Governor Yusuf has settled the outstanding fees of €1.4 million (approximately ₦2.5 billion) owed to the university for 84 medical and2015 to 2019.
This substantial financial commitment honors the dedication and hard work of these graduates, restoring their hopes for a future that had previously been unjustly delayed.
According to Ibrahim Adam, the certificates are set to be handed over to the Kano State Scholarship Board through the Nigerian Ambassador to Turkey, marking a pivotal moment for the affected students.
Governor Yusuf acknowledged the challenges faced by the graduates, declaring, “This situation has been a significant setback for our children, hindering their dreams and aspirations, and it has also affected our state, which is in dire need of their expertise.”
His vision for a prosperous Kano is centered on prioritizing education, ensuring that talented individuals can make valuable contributions to the state’s advancement.
The governor’s proactive measures not only address the systemic issues in the education sector but also inspire renewed hope among Kano’s youth.
By fulfilling his promises, he emphasizes the crucial role of supporting young people in achieving their aspirations, which is vital to the state’s growth.
As this milestone is celebrated, it is evident that Governor Abba Kabir Yusuf’s relentless pursuit of educational reform signals a transformative era for Kano State.
His administration’s unwavering focus on education stands as a vital investment in the futures of individuals and the overall development of the state.
Under his leadership, Kano State is poised to realize its full potential, with eager graduates ready to make impactful contributions to their communities.
Governor Yusuf’s commitment to empowering the youth serves as an enduring reminder that with dedication and decisive action, a brighter future is attainable for all.
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