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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
Nafisah Yusuf Hassan, a magistrate in Kano State, has been recommended for appointment as a judge of the Kano State High Court by the National Judicial Council (NJC).
KANO FOCUS reports that Hassan is among four judicial officers from Kano State recommended for elevation to the High Court bench out of 28 candidates selected nationwide.
The other nominees are Halima Yahuza Ahmad, Abdullahi Abdulsalam Bature and Musa Ibrahim Umar.
The NJC disclosed the recommendations in a statement issued by its Deputy Director of Information, Kemi Babalola-Ogedengbe, following its consideration of candidates for judicial appointments across the country.
The council said all recommended candidates were expected to be sworn in by their respective state governors without delay.
Hassan’s recommendation follows her years of service in the Kano State judiciary, where she has reportedly distinguished herself through diligence, professionalism and careful handling of cases.
She has been commended for her commitment to judicial ethics, diligence and fairness in the discharge of her responsibilities, achievements that contributed to her career progression within the judiciary.
Her elevation is part of a broader development in the Kano State judiciary, with four magistrates from the state successfully scaling the selection process for appointment to the High Court.
The four nominees were reportedly assessed during the selection exercise and demonstrated strong professional competence, while their service records were found to be free of adverse remarks.
Their recommendation marks a significant step in their judicial careers and is expected to strengthen the judicial workforce in Kano State upon their formal appointment.
Nasiru Yusuf Ibrahim
The Kano State Accountability Forum on Education (K-SAFE) says it has tracked nearly 1,000 education projects across the state as part of efforts to promote transparency, accountability and effective service delivery in the education sector.
KANO FOCUS the coalition’s Co-Chair, Dr Auwalu Halilu, disclosed this on Wednesday during an advocacy visit to the Kano State Ministry of Public Procurement and Project Monitoring.
Dr Halilu said K-SAFE had monitored projects in more than six local government areas, covering interventions implemented by the State Universal Basic Education Board (SUBEB), Kano State Senior Secondary Education Management Board and Local Education Authorities (LEAs).
He explained that the monitoring exercise involved physical inspections and documentation of projects through photographs, videos and geographical locations.
According to him, reports of the findings had been submitted to relevant ministries, departments and agencies (MDAs), highlighting projects that met required standards and those requiring further attention.
He cited Rimin Gado Local Government Area, where the coalition tracked more than 80 education projects, adding that it planned to extend the exercise to all 44 local government areas of the state.
The K-SAFE Co-Chair said the visit was aimed at presenting the coalition’s activities to the ministry and exploring areas of collaboration in procurement and project monitoring.
He called for the inclusion of civil society organisations in procurement and monitoring processes, particularly tender board activities and field inspections, to strengthen independent oversight and provide them with firsthand information on government projects.
Dr Halilu also requested the ministry’s support in organising capacity-building programmes for civil society organisations on procurement procedures, due process, project standardisation, monitoring and evaluation.
He said such training would enhance civil society organisations’ understanding of procurement regulations and the technical requirements guiding project implementation.
Responding, the Commissioner for Public Procurement and Project Monitoring, Dr Nura Iro Ma’aji, welcomed the delegation and acknowledged the coalition’s contributions to supporting the state government’s efforts in the education sector.
He expressed the ministry’s readiness to collaborate with K-SAFE through information sharing and other relevant engagements to strengthen accountability and ensure compliance with due process.
“From our side, we are ready to work together because we know what they have been doing to support Kano State Government in the education sector,” he said.
Dr Halilu further disclosed that the coalition and its partner organisations had carried out the monitoring exercise without financial sponsorship, describing it as a demonstration of their commitment to transparency and accountability.
He reaffirmed K-SAFE’s commitment to sustaining engagement with relevant government agencies, civil society organisations and the media to strengthen oversight of education projects across Kano State.
Ibrahim Khalil
Government Secondary School (GSS) Army Day Bukavu has emerged champion in both the male and female categories of the maiden Kano State Secondary Schools Tug of War Competition.
KANO FOCUS reports that the school clinched the double victory at the competition, which ended on Wednesday at the Kano Pillars Stadium, Sabon Gari, Kano.
Governors College finished as runners-up in the male category, while Government Girls College (GGC) Kano secured second position in the female category.
The competition was organised by the Kano State Tug of War Association in collaboration with the state Ministry of Education, the National Drug Law Enforcement Agency (NDLEA) and the Kano State Sports Commission.
The maiden championship brought together secondary school students to promote teamwork, discipline, unity and sportsmanship, while raising awareness about the dangers of drug abuse.
Speaking at the closing ceremony, the Vice Chairman of the Kano State Tug of War Association, Jamilu Uba Adamu, described the competition as a successful initiative that had achieved its objectives.
He commended the Ministry of Education, Sports Commission, NDLEA, Gongoni Company Limited and MAGZO Pharmaceutical for supporting the event, particularly through the provision of T-shirts and Pocari Sweat drinks.
Also speaking, the Secretary of the Kano State Tug of War Association, Bashir Muhammad Sulaiman, who represented the Executive Chairman of the Sports Commission, Muhammad Tukur Babangida, reaffirmed the commission’s commitment to developing grassroots and school sports.
He said the initiative would help identify and nurture young sporting talents across the state.
The closing ceremony was attended by a member of the Kano State Football Association Board, Rilwanu Idris Malikawa Garu, representatives of the Ministry of Education, NDLEA, the Sports Commission and other stakeholders in the sports sector.
The organisers congratulated the winning schools and commended all participating institutions and partners for contributing to the success of the maiden edition.
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