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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.
Nasiru Yusuf Ibrahim
Kano State was thrown into mourning as Governor Abba Kabir Yusuf, alongside thousands of sympathisers, paid final respects to two serving members of the Kano State House of Assembly, Alhaji Aminu Sa’ad Ungogo and Alhaji Sarki Aliyu Daneji, who were laid to rest in separate burial ceremonies.
A statement issued on Thursday by the governor’s spokesperson, Sunusi Bature Dawakin Tofa, said the solemn ceremonies drew large crowds of mourners from across the state, reflecting the deep impact of the lawmakers’ service and leadership.
Alhaji Aminu Sa’ad Ungogo, who represented Ungogo Constituency, was buried on Wednesday in his hometown of Ungogo Local Government Area amid emotional scenes from family members, constituents, colleagues and residents. The late lawmaker died while serving his second term in the House of Assembly and was, until his death, the Chairman of the House Committee on Appropriation.
Funeral Prayer of Hon. Aminu Sa’ad Ungoggo
Before joining the legislature, Ungogo was a seasoned administrator who served Kano State in various capacities, including as Chief Personnel Officer (CPO), Director of Personnel Management (DPM) and Sole Administrator.
Similarly, Alhaji Sarki Aliyu Daneji, who represented Kano Municipal Constituency, was laid to rest on Thursday at the Dandolo Cemetery, following funeral prayers at the Emir’s Palace Mosque in Kano. He was serving his first term in the Assembly and chaired the House Committee on Hajj Operations.
Before venturing into politics, Daneji retired from the Nigeria Security and Civil Defence Corps (NSCDC) as State Commandant in Katsina State.
Governor Yusuf attended the funeral rites alongside the leader of the Kwankwasiyya Movement and former Governor of Kano State, Senator Rabiu Musa Kwankwaso; the Deputy Governor, Comrade Aminu Abdussalam Gwarzo; the Speaker of the Kano State House of Assembly, Alhaji Jibrin Ismail Falgore, and his deputy, Alhaji Muhammad Bello Butubutu, as well as other top government officials.
The burial attracted tens of thousands of mourners, including principal officers of the Kano State House of Assembly, members of the NNPP National Assembly Caucus, serving and former lawmakers, political office holders, party leaders, traditional rulers and residents from across the state.
Governor Yusuf described the late lawmakers as dedicated and selfless representatives who served their constituencies and Kano State with commitment and integrity. He extended heartfelt condolences to their families, the leadership of the Kano State House of Assembly and the people of Kano State, particularly those of Ungogo and Kano Municipal constituencies.
The governor prayed that Almighty Allah forgives their shortcomings and grants them Aljannatul Firdaus.
Nasiru Yusuf Ibrahim
Governor Abba Kabir Yusuf of Kano State has approved the establishment of a Technical Committee to tackle the persistent issue of poor employment representation of Kano State indigenes in federal government agencies, as well as private and voluntary institutions operating within the state.
KANO FOCUS the committee was formally inaugurated by the Secretary to the State Government (SSG), Alhaji Umar Faruk Ibrahim, at his office in Kano. Speaking at the inauguration, the SSG expressed deep concern over what he described as the continued marginalisation of Kano indigenes in employment opportunities, despite Kano being the most populous state in the country.
He noted that Kano has not received its fair share of jobs, even in federal and private institutions located within the state, stressing that the high rate of unemployment among youths in Kano—believed to be higher than in any other state—demands urgent and decisive government intervention.
“This is the right time to reclaim what truly belongs to us,” Alhaji Umar Faruk Ibrahim declared, adding that the present moment offers an opportunity for meaningful and sustainable action.
A statement issued on Thursday by the Press Secretary in the Office of the SSG, Musa Tanko Muhammad, explained that the committee was carefully constituted with experienced individuals drawn from various sectors of public service.
He announced Dr. Danyaro Ali Yakasai, Special Adviser to the Governor on Policy and Social Development, as Chairman of the committee, with Dr. Ibrahim Garba Muhammad, Special Adviser on Human Resource, serving as Co-Chairman.
Other members of the committee include Salisu Mustapha, Permanent Secretary, Office of the Head of Civil Service; Ibrahim Muhammad Kabara, Permanent Secretary, Ministry of Special Duties; Hon. Ali Yahuza Gano, Special Adviser on Metropolitan Affairs; Alhaji Salisu A. Kabo, Director General, Youth Empowerment; and Hon. Ado Muhammad Wudil, Executive Secretary, Guidance and Counselling Board. The committee’s activities will be coordinated by Salisu Musa Aliyu, Principal Assistant Secretary in the REPA Directorate of the SSG’s Office.
The committee is mandated to review employment practices in federal, private, and voluntary institutions operating in Kano State, determine the level of employment of Kano indigenes, engage relevant organisations on recruitment guidelines, and collaborate with the Federal Character Commission to ensure fairness and compliance with existing regulations. Its ultimate objective is to develop practical and lasting solutions that will improve employment opportunities for Kano State indigenes.
Speaking on behalf of the committee, its Chairman, Dr. Danyaro Ali Yakasai, expressed gratitude to Governor Abba Kabir Yusuf for the confidence reposed in the team. He assured that members would work diligently to justify the trust and appealed to the people of Kano State for prayers and cooperation.
The committee is expected to submit its report within four weeks.
Nasiru Yusuf Ibrahim
President Bola Ahmed Tinubu has congratulated a former National Chairman of the All Progressives Congress (APC) and his long-time political ally, Dr. Abdullahi Umar Ganduje, on his 76th birthday, marked on December 25.
In a statement issued by his Special Adviser on Information and Strategy, Mr. Bayo Onanuga, President Tinubu described Dr. Ganduje as an astute politician and accomplished administrator who has devoted over five decades to public service in Nigeria.
The President recalled that Dr. Ganduje served the nation in several key capacities, including as a senior administrator in the Federal Capital Territory before returning to Kano State to serve as Commissioner for Works during the military era. He later became a two-term Deputy Governor of Kano State and subsequently served two consecutive terms as Governor of the state.
Dr. Ganduje, who also served as National Chairman of the APC, is currently the Chairman of the Federal Airports Authority of Nigeria (FAAN).
President Tinubu praised Ganduje’s enduring friendship and political collaboration, noting his significant contributions to the growth and stability of the ruling party.
“I will forever appreciate Ganduje’s friendship and close collaboration at different times, as well as his services to the APC,” the President said.
He prayed Almighty Allah to grant the former Kano State governor good health and long life to enable him to continue serving Nigeria and humanity.
Dr. Ganduje’s 76th birthday has drawn goodwill messages from political leaders and associates across the country, celebrating his long years of service and contributions to national development.
Amid tears and sorrow, Kano bids farewell to fallen lawmakers
Governor Yusuf sets up committee to address employment gaps against indigenes
Tinubu Congratulates Ex-APC Chairman Ganduje at 76
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