Dangote building biggest refinery in the world, it will end fuel crises

The Dangote Group, which is currently building what it calls the world’s largest refinery, has given an assurance that when the plant comes on stream, it will put an end to the recurring fuel crises in the country.

Aliko Dangote

The executive director, stakeholder management and corporate communications, Dangote Group, Mr Mansur Ahmed, said by the time the refinery was ready, Nigeria would be transformed from a fuel importing country to an exporting one.

Breaking News: Explosion rocks CBN Calabar, many killed

CALABAR- EIGHTEEN people were on Friday morning roasted while others sustained third degree burns in an inferno at the Central Bank of Nigeria, CBN, following an explosion at the premises of the Bank located at Calabar Road by the Millennium Park . The explosion which took place at about 11.45 am set the main edifice of the bank on fire effectively trapping many staff and visitors which occasioned for the high casualty fire.

 

Scene from the CBN gas explosion in Calabar

Dangote plans to generate 12,000MW of electricity, sell forex to CBN

Africa’s richest man and President of Dangote Industries, Alhaji Aliko Dangote has revealed the intension of his company to generate about 12,000 megawatts of electricity for the country by 2018, adding that his business estate would start selling foreign exchange, forex, to the Central Bank of Nigeria, CBN by the year 2020.

Disclosing this yesterday at the Nigerian Economic Summit organised in Lagos by Economist Events, an arm of The Economist of London, Dangote said, “We are looking at a situation that by 2020, we will be the one selling FX to the CBN. Our projects are mainly import substitution. We are working to be self-sufficient to grow about a million tonnes of rice over the next five years.

Buhari restructures NNPC into seven ‘independent’ companies

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu yesterday announced that President Muhammadu Buhari has approved the restructuring of the Nigerian National Petroleum Corporation, NNPC, into seven new divisions that would be business-oriented unlike the administrative role the company played in the past.

Disclosing this at a press conference in Abuja, he explained that the state oil company will, under the new structure, have five core new divisions namely: Upstream, Downstream, Refining Group, Gas and Power, as well as the Ventures’ groups. He listed the other two to include: Finance and Services groups.

A Letter to President Buhari

Mr. President, you serenade against corruption to Nigerians, but can you successfully move forward with this battle of venality without fixing the economy; and can you fix the battered economy without stepping on toes? The answer is yes because you have military background that is unanimous with bravery. When Jerry Rawlings brought sanity to Ghana years ago, people died but here in Nigeria you are being asked only to clamp down on luxurious goods that are draining the petro-dollar from the economy. You demonstrated visionary leadership when you jetted out of Nigeria in search of higher oil price in order to boost the nation’s revenue. That being said, does it make sense to you for just a few Nigerians to squander the nation’s foreign exchange to purchase jets, boats and the big cars of the world, and let companies in Nigeria begin to go out of business because they don’t have foreign exchange to purchase raw materials and industrial equipment to keep the economy afloat? It’s common knowledge that the price of the dollar is dependent on simple economic forces of demand and supply.

It’s A Shame That I’m From The Governor’s Community And I’m Trekking – Queen Retina Ashibekong, Face Of Obudu Culture

Queen Retina Ashibekong – Face of Obudu Culture

Queen Retina Ashibekong, Face of Obudu Culture Queen International has said that “it’s a big shame that I am from the community of the State Governor, the Queen of Obudu Culture and I’m trekking after pledging a car for the winner during the contest.”

Buhari to visit USA at the end of March

Buhari postpones the visit to China, heads for USA The president to attend 2016 Nuclear Security Summit

President Buhari lands in USA. Archive photo.