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Dangote says Company’s projected $30bn revenue will boost the Naira value

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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.

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KSCHMA to integrate family planning into health contributory scheme

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Nasiru Yusuf Ibrahim

 

 

Kano State Contributory Healthcare Management Agency (KSCHMA) is planning to integrate family planning services into the scheme. 

 

KANO FOCUS reports that the agency in ollaboration with the Society for Family Health organised a highly technical workshop in Kaduna Wednesday in that regard.

 

The workshop will also review the benefit package being offered by the Agency while also look at ways to include MNH innovations in the benefit package and finalise a clear actionable plan for immediate implementation and alignment with MAMII to reduce maternal mortality in Kano.

 

KANO FOCUS reports that Family Planning services and commodities have recently been identified as one of the ways that can grossly affect and reduce maternal mortality in Kano State and KSCHMA is fully aligned to work in tandem with efforts of the Kano State Government, the SMOH and other partners to see a remarkable reduction in Maternal Mortality.

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Dangote refinery exports two cargoes of jet fuel to Saudi Aramco in Saudi Arabia

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NESG says FG Must Support Domestic Industries to Achieve a $1 Trillion Economy

 

Nasiru Yusuf Ibrahim

 

Dangote Petroleum Refinery recently achieved a significant milestone by successfully exporting two jet fuel cargoes to Saudi Aramco, the world’s largest oil producer and a leading integrated oil and gas company globally.

 

 

KANO FOCUS reports that Saudi Aramco is the official Saudi Arabian Oil Company, which is a majority state-owned petroleum and natural gas company that is the national oil company of Saudi Arabia.

 

President of Dangote Group, Aliko Dangote, revealed this on Tuesday during a visit by the Nigerian Economic Summit Group (NESG), team to both Dangote Fertiliser Limited and the Dangote Petroleum Refinery & Petrochemicals in Ibeju Lekki, Lagos.

 

Dangote said exporting products to the global markets, especially Saudi Aramco, was because of his refinery’s world-class standards and advanced technologies.

“We are reaching the ambitious goals we set for ourselves, and I’m pleased to announce that we’ve just sold two cargoes of jet fuel to Saudi Aramco,” he said.

 

Since its production began in 2024, the Dangote refinery has steadily increased its output, now reaching 550,000 barrels per day.

 

While commending Aliko Dangote for establishing the $20 billion refinery – the largest single-train refinery in the world – NESG Chairman, Mr. Niyi Yusuf, stated that Nigeria needs more investments of this calibre to reach its $1 trillion economy goal.

 

“To achieve a $1 trillion economy, much of that must come from domestic investments. I joked during the bus ride that while others are dredging to create islands for leisure, you’ve dredged 65 million cubic tonnes of sand to create a future for the country. This refinery, fertiliser plant, petrochemical complex, and supporting infrastructure are monumental,” he said. “My hope is that God grants you the strength, courage, and health to realise your ambitions and that in your lifetime, a new Nigeria will emerge.”

 

Yusuf emphasised that such local industries are essential to Nigeria’s industrialisation and will help foster the growth of Small and Medium Enterprises (SMEs). He added that the NESG would continue to advocate for an improved investment climate to attract entrepreneurs, boost development, ensure food security, and address insecurity.

 

He lamented that Nigeria has become a dumping ground for foreign products and stressed that the country must support its entrepreneurs to become a global player. “It’s inconceivable that a nation of over 230 million people, with an annual birth rate higher than the total population of some countries, is still dependent on imports to feed its citizens.”

 

Yusuf also praised Dangote’s bold vision for making Nigeria self-sufficient in several key sectors.

 

“The NESG is grateful, and I believe the nation is as well. This refinery represents the audacity of courage. It takes immense effort to do what you’ve done and still be standing and smiling. Thank you for inspiring us and showing that nothing is impossible. You’ve transformed Nigeria from a net importer of petroleum products to a net exporter,” he said. “We’ve all read Think Big, but this is truly about thinking big. The message is clear: the private sector can bring about real change.”

 

Yusuf, alongside NESG board members and stakeholders, toured the refinery and fertiliser plants, lauding the level of investment, technology, and sophistication of young Nigerian engineers running world-class laboratories and central control units. He acknowledged Dangote’s perseverance and success in overcoming numerous challenges.

 

Dangote, in his response, reiterated the importance of the private sector in national development, asserting that Nigeria’s challenges could largely be overcome by providing gainful employment to its people.

 

He stated that the concept of a free market should not be used as a pretext for continued import dependence, highlighting that both developed and developing nations, including the USA and China, actively protect their domestic industries to safeguard jobs and promote self-sufficiency. Dangote also cited the example of the Benin Republic, where cement imports are restricted as part of a deliberate strategy to protect local industries, despite the proximity of his Ibese plant.

 

“The President is a personal friend, and my Ibese plant is just 28km from Benin, yet they refuse to allow imports to protect their local industries, most of which are grinding plants,” he remarked.

He further emphasised that the government stands to gain substantially when the private sector flourishes, noting that 52 kobo (52%) of every naira Dangote Cement generates goes to the government.

 

Dangote also pointed out the significant challenges involved, in setting up industries in Nigeria, particularly the substantial capital investment required due to the lack of infrastructure. He stressed that investors are often forced to take on responsibilities for essential services such as power, roads, and ports – services that should be provided by the government.

 

 

 

 

 

 

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Gov Yusuf constructs 400 classrooms in basic schools – SUBEB chair

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Nasiru Yusuf Ibrahim

Governor Abba Kabir Yusuf has constructed 400 classrooms to decongest lower basic schools.

KANO FOCUS reports that the Executive Chairman of State Universal Basic Education Board (SUBEB) Alhaji Yusuf Kabir revealed this on Tuesday while receiving members of Kano State Accountability Forum on Education (K-SAFE) who paid him an advocacy visit.

Alhaji Yusuf Kabir

The chairman added that the state government is expending billions of Naira in renovation of schools through Community Reorientation Committees (CRC) across the forty four local government areas.

He said the project is part of the governor Yusuf-led administration’s campaign promises to reform the decayed education sector in the state.

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Kabir appealed to corporate organisations and wealthy individuals to complement government’s effort in that direction.

He however solicited the support of K-SAFE in addressing the menace of students’ absenteeism and late coming which he described as the major challenge to effective teaching and learning.

The chairman extended an invitation to K-SAFE to be attending teachers recruitment exercises and procurement processes as he is committed to transparent and prudent management of public resources.

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Earlier the Co-chairperson of K-SAFE Dr Auwalu Halilu said they were in SUBEB to formally introduce the forum as accountability platform working in education sector.

Dr Halilu said K-SAFE is a co-creation of government, civil society organisations and media workers aimed at improving education in Kano state.

Dr Auwalu Halilu

He assured readiness of K-SAFE members to support SUBEB in school monitoring across the nooks and crannies of the state.

Also speaking the Secretary of K-SAFE Dr Abdussalam Kani raised concerns over the alarming data frequently released by development partners and Non Governmental Organisations, which he said contradicted all obtainable indices.

He therefore called on Kano State Bureau of statistics to regulate publishing unjustifiable data by Non Governmental organisations in Kano state.

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