Connect with us

News

I would’ve lost all my assets if refinery project failed – Dangote

Published

on

President of the Dangote Group, Aliko Dangote, has said that if the decision to build the Dangote refinery had failed, lenders would have taken over his assets.

Dangote spoke during a press conference, on Monday, to mark the first anniversary of the launch of petrol from the 650,000 barrels-per-day refinery.

Reflecting on the challenges faced during the refinery’s development, Dangote said the refinery project involved huge risk.

According to the billionaire, he received several warnings from industry experts, investors, local and foreign government officials, who argued that only sovereign nations undertook such a large-scale refinery venture.

“The decision to build the refinery was not easy. If it had gone wrong, lenders would have taken our assets. But we believed in Nigeria and Africa,” he said.

Acknowledging the numerous challenges the refinery has faced since its inception, Dangote emphasised the company’s resolute commitment to Nigeria and Africa.

See also  Good morning! Here Are Some Major News Headlines In Nigerian Newspapers Today: Marketers predict cheaper petrol nationwide as Dangote begins naira sale

“The journey has been challenging because we sought to transform the downstream sector in Nigeria. Some believed we were taking food from their tables, which simply isn’t true,” he said.

“What we have done is to make our country and continent proud. Previously, only two African countries were not importing petrol, but regrettably, they have since resumed imports. This is detrimental to Africa.”

In 2024, foreign oil traders reportedly offered loans to provide working capital for Dangote refinery in exchange for fuel from the plant.

On August 4, the African Export-Import Bank (Afreximbank) said it had signed a $1.35 billion financing facility with Dangote refinery.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Tinubu returns to Nigeria after state visit to UK

Published

on

By

President Bola Tinubu arrived in Lagos early on Friday following a two-day historic visit to the United Kingdom.

The president is expected to join Muslim faithful later in the day to mark the celebration of Eid-el-Fitr.

Tinubu and his wife, the First Lady, Oluremi Tinubu, touched down at about 1:15 a.m. at the Presidential Wing of the Murtala Mohammed International Airport.

They were received on arrival by top government officials and party members, including Lagos State Deputy Governor Femi Hamzat and Chief of Staff to the President, Femi Gbajabiamila, alongside other All Progressives Congress (APC) stalwarts.

See also  Tinubu woos Germany, South Korea, India to invest in Nigeria, says ‘We’ll leave nothing hanging’
Continue Reading

News

Tinubu departs UK for Nigeria after historic state visit

Published

on

By

President Bola Ahmed Tinubu has departed the the United Kingdom for Nigeria following a high-profile state visit.

This was disclosed on Friday morning by the President’s Special Adviser, Information & Strategy, Bayo Onanuga.

“President Tinubu and First Lady Oluremi Tinubu depart London for Nigeria. President Tinubu and his wife are heading to Lagos for the Eid-el-Fitr celebration,” Onanuga wrote on his Facebook page.

The visit was marked by royal engagements, economic discussions and renewed diplomatic ties.

Tinubu was first received by King Charles III at Windsor Castle, where both leaders held talks aimed at strengthening relations between Nigeria and the UK. The visit featured ceremonial honours, including a carriage procession and a state banquet attended by senior members of the royal family.

At the banquet, Tinubu emphasised the importance of stronger cooperation between both countries. “Nigeria remains ready to deepen its partnership with the United Kingdom in trade, investment and shared prosperity,” he said. “We are committed to creating an environment that supports investors and drives sustainable growth,” Tinubu said.

See also  Why independent marketers can’t buy petrol from Dangote refinery – PENGASSAN

On his part, King Charles highlighted the enduring relationship between the two nations. “The United Kingdom and Nigeria share deep and enduring ties. Our countries are bound not only by history, but by a shared commitment to opportunity, enterprise and cultural exchange,” the monarch said.

Beyond the royal engagements, Tinubu also took part in meetings with UK officials, including discussions linked to the government of Keir Starmer, focusing on economic collaboration and investment opportunities.

Speaking on the outcomes of the visit, Tinubu said: “This visit has opened new pathways for cooperation, particularly in infrastructure and trade. We look forward to translating these discussions into tangible benefits for our people.”

A key development from the trip was progress on an agreement involving the rehabilitation of Nigerian ports, valued at hundreds of millions of pounds. According to officials, the project is expected to boost maritime capacity and support economic growth.

Tinubu also acknowledged the significance of the visit, noting that it comes at a crucial time for Nigeria’s economy. “We are determined to reposition our economy through strategic partnerships such as this,” he said.

See also  Petrol production delayed due to fire incident, says Dangote

Continue Reading

News

Good morning! Nigerian Newspapers Headlines: 2027 gov poll: Succession firestorm heats up in 10 states

Published

on

By

1. The simmering build-up to the 2027 general elections is rapidly giving way to an expansive and high-stakes succession season in at least 10 states, as governors in their final terms prepare to exit and a new generation of political actors moves to take their place.

Governors Babajide Sanwo-Olu (Lagos), Dapo Abiodun (Ogun), Seyi Makinde (Oyo), Bala Mohammed (Bauchi), Mai Mala Buni (Yobe), Babagana Zulum (Borno), Ahmadu Fintiri (Adamawa), Inuwa Yahaya (Gombe), Abdullahi Sule (Nasarawa), and AbdulRahman AbdulRazaq (Kwara) are in the final lap of their constitutionally permitted two-term, four-year tenures, and the battle for their successors has begun across the states


2. President Bola Tinubu on Thursday night departed London after a two-day historic visit at the instance of the royal family. He is expected to land in Abuja on Friday morning.


3. The Sultan of Sokoto, Muhammadu Sa’ad Abubakar, has called on the Nigerian military to adopt a more proactive strategy against terrorist groups in the wake of deadly bombings in Maiduguri, Borno State.
Abubakar made the appeal on Wednesday evening while declaring Friday as Eid-el-Fitr, marking the end of the Islamic holy month of Ramadan.


See also  Petrol from Dangote refinery shouldn’t be costlier than imported product - IPMAN

4. Governor Babagana Umara Zulum of Borno State says the time of Boko Haram informants and their sympathizers is up, vowing that they would be tracked and made to face the full wrath of the law. The governor gave the warning during a state-wide broadcast on Thursday.


5. There was panic at St. Matthias Catholic Church, Agulu, in Anaocha Local Government Area of Anambra State, after a fully loaded lorry crashed into the church premises and caught fire. The incident, which occurred late on Wednesday along the Agulu Lake–Golden Tulip Hotel Road, caused gridlock as motorists slowed down while emergency responders battled to contain the blaze.



6. Nigeria has entered into a fresh agreement with the United Kingdom that will enable British authorities to repatriate thousands of failed asylum seekers and convicted offenders to the West African nation. The deal was formalised by Interior Minister Olubunmi Tunji-Ojo and UK Home Secretary, Shabana Mahmood during President Bola Tinubu’s official visit to Britain.


See also  Edo PDP expels Philip Shaibu, south-south vice-chairman over ‘anti-party activities’

7. Combined security operatives have arrested three suspected bandits linked to the February 3, 2026 attack on Woro village in Kaiama Local Government Area of Kwara State. The arrest was disclosed on Thursday by the Senior Special Assistant on Media to Governor AbdulRahman AbdulRazaq, Ibraheem Abdullateef, in a Facebook post.



8. The National Drug Law Enforcement Agency, Kano Strategic Command, has arrested a suspect and recovered 510 blocks of cannabis sativa in a major pre–Eid-el-Fitr operation. The State Commander, D.Y. Lawal, disclosed this in a statement issued on Thursday by the command’s Public Relations Officer, Assistant Superintendent of Narcotics, Sadiq Muhammad Maigatari.


9. Nigeria has been ranked the fourth most terrorized country in the world, according to the Global Terrorism Index, 2026, released by the Institute for Economics & Peace, a non-profit think tank headquartered in Sydney, Australia. The report showed that 750 Nigerians lost their lives to terrorism in 2025, representing a 46 per cent increase compared to the previous year.



See also  Tinubu woos Germany, South Korea, India to invest in Nigeria, says ‘We’ll leave nothing hanging’

10. The Police Command in Enugu State has detained three suspects in coordinated crime prevention operations across the state, recovering a firearm, ammunition and a tricycle. The command’s spokesman, SP Daniel Ndukwe, disclosed this in a statement issued on Thursday in Enugu. Ndukwe said that on March 15, about 9 a.m., operatives on patrol along Enugu-Port Harcourt Expressway intercepted an unregistered tricycle.

Continue Reading

Trending News