Dangote: Refinery Is Good, But Agro-allied Is Game-changer

Dangote: Refinery Is Good, But Agro-allied Is Game-ChangerPresident of the Dangote Group, Mr Aliko Dangote, says his group of companies’ expansion into agro-allied local production of tomato, rice and sugar is the game-changer.

He also noted that the expansion is in line with the Federal Government’s focus on agriculture.

The Africa’s richest man said this on Monday while addressing journalists at the Nigerian Stock Exchange in Lagos State, south-west Nigeria.

He also closed the first trading day of the week, in company of top stock exchange executives, as well as Mr Femi Otedola and the NSE President, Mr Aigboje Aig-Imokhuede.

Mr Dangote, who celebrated his 60th birthday with the closing gong, gave an update on his ongoing 750,000 barrels per day refinery in Lagos.

Okowa Calls On Dangote, Other Investors To Explore Nigeria’s Gas Industry

Okowa Woos Dangote, Investors To Tap Into Nigeria's Gas IndustryDelta State Governor, Ifeanyi Okowa, has asked investors to tap into the abundant gas resources in the state, in order to boost the state’s economy and that of Nigeria.

The Governor made the call while commissioning an ultra-modern office complex and warehouse of one of the biggest distributor of Dangote Cement in Asaba, the state’s capital.

The event had in attendance, Africa’s richest man and President of Dangote Group of Companies, Mr Aliko Dangote.

Governor Okowa stated that Mr Dangote has done a lot in the area of boosting not only Nigeria’s economy, but the economy of West Africa, stressing that the greatest benefit of such investments is job creation.

While some State Governments depend on the Federal Government for allocations to handle capital projects, Dr. Okowa stressed the importance of gas in Nigeria’s petrochemical industry.

He expressed confidence that with the help of investors, the natural gas in Delta State is capable of turning the state’s economy into a more viable one.

Governor Okowa reiterated the readiness of his administration to encourage prospective investors, adding that Nigeria is blessed with natural resources to be a huge importer of finished products.

He emphasized that there will be a lot of derivable benefits, if investors tap into the gas industry of Delta State.

“We have a lot of gas in Delta State and gas is very important to the petrochemical industry.

“As a nation, we cannot continue to import finished products and we strongly believe that we will play host to the next multi-billion Naira project of the Dangote Group in Delta State.

“As a state, we want to see a lot of actions beyond the cement industry, because it will create a lot of job opportunities for our youths,” the Governor said.

Gas Is Better Than Oil

The prospect appears to be bright as Mr Dangote disclosed the possibility of the company to invest in the natural gas that abounds in Delta State.

“We are an industrial company and what we concentrate on is agriculture; we do rice, sugar, cement, limestone, but the strength of Delta State is gas and gas is better than oil.

“Once there is gas, we will be able to do a lot in the petrochemical industry. We are doing an oil-based one in Lagos which is the most expensive way of doing petrochemical.

“The cheapest way is gas, if we can get the gas here, we will definitely come and invest a lot of money in Delta and employ unemployed youths,” Dangote said.

Delta State contributes about 29.98% of the total oil production in the country, as natural gas is associated with crude oil.

According to the Niger Delta Budget Monitoring Group, estimated reserves amount to 800 million cubic meters of the total gas production of about 2000 million cubic meters a month.

Only 12 million cubic meters are used as fuel, while 11 million cubic meters are sold with the balance flared.

Reports also reveal that crude oil revenue, which accounts for a lump sum of the Federal Allocation, has recently depleted due to the activities of militants in the Niger Delta region and the persistent fall in global oil prices.

Dangote To Invest 53bn Naira In Nasarawa State

Dangote, NasarawaPresident of Dangote Group, Mr Aliko Dangote, is set to invest 53 billion Naira in rice, sugar cane and coal production in Nasarawa State.

The Managing Director, Dangote Sugar Company, Mr Abdullahi Sule, who represented the Nigerian billionaire, disclosed the investment plan to journalists on Saturday.

He was speaking after an aerial survey of the proposed investment sites in Nasarawa State, north-central Nigeria.

Mr Sule expressed optimism that the projects, if completed, would generate jobs for over 20,000 people.

On his part, Governor Tanko Al-Makura described the investment as a timely one.

He expressed hope that it would go in line with the diversification policy of the Federal Government.

FG, Bono Explore Global Partnership To Address Northeast Humanitarian Crisis

Malnutrition-in-northeast-Nigeria-UnicefThe Nigerian government says it will welcome a global partnership that would ensure a concerted and focused international response to the humanitarian crisis arising from the insurgency in the northeast.

Vice President Yemi Osinbajo, gave the indication on Monday while receiving members of the ONE campaign led by the international Rock Star artist, Bono, and Africa’s richest man, Mr Aliko Dangote, who were at the Presidential Villa to discuss the possibilities of a global partnership to address the crisis through international advocacy.

“Deeply Disturbing”

Addressing members of the delegation that included former UK Development Secretary, Douglas Alexander, Professor Osinbajo pointed out that partnership was important in addressing the crisis.

Over two million persons have been displaced in the northeast, a fallout of the over six years of insurgency by a terrorist group, Boko Haram.

“It is very important that you chose to come and offer some partnership. This is great and we are pleased…Partnership is certainly the way to go,” the Vice President stressed.

He said no matter how prepared a country could be, handling the kind of crisis in the northeast with over two million displaced people including children, as a single country “would be irresponsible”.

“A global partnership to address the situation should be coordinated and more focussed on what is required to be done, for instance, in addressing the issue of malnourished children and not attempting to do too much things at once,” he told the gathering.

Earlier, the Irish born artist, Bono, said he had visited some of the IDPs.

“We want to be useful to you,” he said, explaining that what he saw in the region was “deeply disturbing”.

Bono also commended the social investment programmes of the Buhari administration saying: “We have heard of the incredible plans, the social investment funds,” adding also that the level of transparency already seen in the administration is both “very exciting and transforming”.

The ONE campaign is an advocacy organisation with more than seven million people around the world taking action to end extreme poverty and preventable diseases especially in Africa.

It has on its board people like Mo Ibrahim, Bill Gates, Michael Bloomberg among others. It was founded in 2004.

Vice President Osinbajo’s statement is coming days after the UNICEF raised fears that over 400,000 persons are severely malnourished in Nigeria’s northeast.

The UN agency had said that about 49,000 children, pregnant women and nursing mother may die in the next few months if nothing was done.

It has called for nutritious foods and community mobilisers that will go from door to door in the affected region to get the affected children to places they could be treated.

Earlier on Monday, the United Nations expert on Internally Displaced Persons (IDPs), Chaloka Beyani, called on the Nigerian Government and the international community to take urgent humanitarian measures to save lives and ensure the protection of hundreds of thousands of IDPs in the northeast.

VP Osinbajo Inspects Dangote Refinery In Lagos

Yemi-Osinbajo-Dangote,RefineryVice President Yemi Osinbajo on Sunday inspected the site of the Dangote Refinery and Gas Stations in Lagos, Nigeria’s commercial capital.

Professor Osinbajo told journalists after a tour of the investment at the industrial area in Lekki Free Zone that the projects are strategic assets for Nigeria at this time.

He described the electricity project as an important one that would boost power supply tremendously.

In his remarks, the President of Dangote Group, Mr Aliko Dangote, said that the refinery would start production by the first quarter of year 2019.

He stated that when completed, it would be the largest single-line refinery in the world and that the gas pipeline would be able to generate 12,000 megawatts of power.

The Vice President and his team were received by the Governor of Lagos State, Akinwunmi Ambode, Mr Femi Otedola and top state government functionaries.

When completed in 2019, the Dangote Refinery and Gas Stations are expected to enhance power generation in Nigeria and create employment opportunities for many youths.

Dangote Gives Micro-Grant To Disadvantaged Women In Lagos

Aliko Dangote cement companySupporting social and economic change through investments and interventions that improve the lives of the less privileged will make a positive difference in the growth of Nigeria, the Chairman of Dangote Group, Mr Aliko Dangote said on Friday.

Mr Dangote made the statement during the launch of his Micro-Grant Programme and distribution of 400 million Naira to disadvantaged women in Lagos State.

Wealth, they say is not measured by quantity, but by the number of lives it has touched.

That perhaps best describes what Aliko Dangote Foundation is doing for women in Lagos State.

The 400 million Naira would be disbursed to 40,000 disadvantaged and vulnerable women across the state.

Quite elated by the gesture, Governor Akinwunmi Ambode, said the move would complement the efforts of the state Government’s Economic Empowerment and Poverty Reduction Programme.

The distribution of the grant to beneficiaries will commence on Wednesday, June 2.

Besides Lagos, over 250,000 women have so far benefited from the programme across six states.

The programme targets a minimum of 1,000 vulnerable women in each of the 774 local government areas across Nigeria.

Dangote Refinery Will Fetch $6 Billion Yearly

pengassan-nnpc-DangoteThe planned refinery, fertiliser and petrochemical complex being built by Dangote Industries Limited will fetch Nigeria about $6 billion yearly in foreign exchange when completed.

This was revealed by the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, during a tour of the project site over the weekend.

The Apex Bank also stated that it was ready to provide forex for the importation of the equipment needed for the project.

The refinery, which has crude processing capacity of 650,000 barrels per day, is expected to come on stream by mid-2018 with major products such as petrol, high speed diesel and jet a1. The fertiliser plant is expected to start production in 2017.

Three projects are estimated to cost about $14 billion out of which Mr Aliko Dangote is contributing 50 per cent.

Nigerian Senate Assures Investors Of Appropriate Legislation

Aliko-Dagote-Steve-Schanerzman-Bukola-Saraki-Muhammed-Sanusi-IIThe Nigerian Senate on Friday pledged its commitment to enacting appropriate legislations to create attractive business environment for investors.

At a meeting with the Chairman of Black Rhino Group and Emir of Kano, Muhammad Sanusi II, the Chairman and Co-founder of Blackstone Group, Stephen Schwarzman and the President, Dangote Group, Mr Aliko Dangote, the Senate President, Dr. Bukola Saraki, said that the 8th Senate would concentrate on commercial aspects of the oil-rich nation’s laws.

In a statement from his media office, Dr Saraki expressed satisfaction with the decision of the business moguls to invest more in Nigeria’s economy.

He said: “I congratulate you for the first step you have taken in coming to invest in Nigeria and to reassure you that as far as we are concerned, the Senate will give support in any way we can to make legislations that will make investing in Nigeria conducive.

“One of our priorities in the legislature is to look at the private sector and the business environment because some of our old laws have not been reviewed and that is why we are setting up committees to look at and make it more interesting and attractive to invest in Nigeria.

“In the Seventh Senate, we have done a review of the criminal aspect of the laws and brought them up to date and now we are dealing on the commercial side”.

“We Have Seen The Change”

Earlier, Emir Sanusi II said his firm, Black Rhino Group, which handles Africa’s infrastructure investments, is partnering with Dangote Group to make significant investments.

“I am here in my capacity as the Chairman, Black Rhino Group, which handles Africa’s infrastructure investment and we are committed, in partnership with President Aliko Dangote, to make significant investments in power, energy and infrastructure in this country.

“Stephen (Chairman and Co-founder of Blackstone Group) is here on working visit and he will meet the President today basically given his assurance of continued support to the group and this country and to the effort of the administration to fix the infrastructure problems of the country,” Emir Sanusi II told the Senate President.

On his part, Chairman and Co-founder of Blackstone Group, Stephen Schwarzman, congratulated Saraki on his election as Senate President.

He said his company was partnering with Aliko Dangote to invest in projects in Nigeria.

“We have been very active in the infrastructure business particularly with power. We have teamed up with Aliko Dangote to try and do some projects here in Nigeria.

“We are very positive about the impact we can make and as an outsider, we have seen the change, the government’s emphasis on power. It is very important from an outsider’s perspective,” Schwarzman said.

Buhari Meets With Dangote, Sanusi And Schwarzman Of Blackstone Group

Aliko Dagote, Steve Schanerzman and Muhammed-Sanusi-II meet with BuhariThe Nigerian President, Muhammadu Buhari has held talks with the emir of Kano, Muhammad Sanusi II, Africa’s richest businessman and the President, Dangote Group PLC, Mr Aliko Dangote and the Co-founder of Blackstone Group, Stephen Schwarzman.

Before the closed-door meeting held at the Presidential Villa, the top Business executives and the Kano traditional leader came into the Villa at about 1:00pm, local time, and joined the President in the Friday Jumat prayers.

After the prayers they retired into the President’s office for a meeting that held for about an hour.

“To Invest In Nigeria”

Also present at the meeting were the Vice President, Professor Yemi Osinbajo, the Chief of Staff to the President, Mr Abba Kyari.

Although details of the meeting were not made known to reporters, it is believed that it may have centred on investments and job creation. An earlier meeting between the business moguls and the Senate President, Dr Bukola Saraki, had centred on their desire to commit more funds into different investments in Nigeria.

Dr Saraki had assured Mr Dangote, Mr Sanusi and Mr Schwarzman of the Senate’s commitment to enacting appropriate legislations to create attractive business environment in Nigeria.

The Senate President said the 8th Senate would concentrate on commercial aspects of the nation’s laws, having successfully reviewed the criminal aspect in the 7th Senate.

Saraki said: “I congratulate you for the first step you have taken in coming to invest in Nigeria and to reassure you that as far as we are concerned, the Senate will give support in any way we can to make legislations that will make investing in Nigeria conducive.

“One of our priorities in the legislature is to look at the private sector and the business environment because some of our old laws have not been reviewed and that is why we are setting up committees to look at and make it more interesting and attractive to invest in Nigeria.

“In the Seventh Senate, we have done a review of the criminal aspect of the laws and brought them up to date and now we are dealing on the commercial side”.

During his campaign, President Buhari had promised to explore all avenues to create more jobs for Nigerian youths and grow the economy through foreign direct investments.