Politics
Dangote Refinery Will Be Very Beneficial To Nigeria’s Economy – Peter Obi
Peter Obi, the presidential candidate of the Labour Party, expressed his belief that the Dangote Petroleum Refinery and Petrochemicals would have a positive impact on the Nigerian economy.
The refinery, which is currently the world’s largest single-train petroleum refiner, was inaugurated by President Muhammadu Buhari at the Dangote Industries Free Zone in Ibeju-Lekki, Lagos State on Monday.
The event was attended by senior government officials from Nigeria and other African countries, as well as governors, lawmakers, government functionaries, royal figures, industry leaders, and notable individuals from various sectors of society.
Reacting to the project on his Twitter handle, Obi, who is a former Anambra State governor, said the world-class project would be “very beneficial to Nigeria’s economy”.
According to Obi, the Dangote Petroleum Refinery and Petrochemicals, with its maximum operational capacity of 650,000 barrels of crude oil per day, will not only fulfill Nigeria’s domestic demand for petroleum products but also reduce the country’s reliance on importing such products, thus saving valuable foreign exchange.
In his statement, Obi emphasized that by exporting the surplus to international markets, Nigeria would establish itself as a significant participant in the global downstream petroleum sector.
He wrote, “By supplying the surplus to the International markets, Nigeria will reposition itself as a key player in the downstream petroleum sector of the global market. In moving Nigeria from consumption to production,
“I have always argued for greater private sector participation in the economy as exemplified by the Dangote Group. I believe the Dangote Refinery will be very beneficial to the nation’s economy.
“By moving Nigeria from a net importer to a net exporter of petroleum products, this refinery will create numerous jobs and generate needed foreign exchange inflow.
“This refinery is another milestone towards the New Nigeria, to which I am committed. That new nation will be an enabling environment for a booming private sector that will see the rise of many micro, small and medium-scale businesses that will boost the nation’s economy and foster increased productivity among our people,”
During the event, Godwin Emefiele, the Governor of the Central Bank of Nigeria, highlighted the economic advantages associated with the projects.
Emefiele stated that the Dangote Petroleum Refinery and Petrochemicals would contribute to job creation in Nigeria. He mentioned that the project would generate numerous direct employment opportunities as well as millions of indirect jobs, with approximately 135,000 permanent positions anticipated.
Additionally, Emefiele revealed that there are currently around 4,000 Nigerian personnel actively working on-site, and this figure does not include the employment provided by the various contractors and subcontractors involved in the project.
The apex bank boss also said that the project would generate up to 12,000WM of electricity, saying, “I am also proud to state that the project will generate up to 12,000MW of electricity. In addition, the refinery and the other ancillary projects will have significant multiplier effects on other sectors of the economy by supporting a diverse range of sectoral value-chains.”
Furthermore, Emefiele emphasized that the Dangote Petroleum Refinery and Petrochemicals project has the potential to significantly reduce the country’s reliance on foreign exchange and alleviate fiscal burdens.
The Peoples Democratic Party (PDP) has rejected the outcome of the Ondo State governorship election, accusing the ruling All Progressives Congress (APC) of electoral malpractice, including vote-buying and result manipulation.
This was disclosed during a meeting of the PDP Governors’ Forum on Saturday in Jos, Plateau State.
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The forum, chaired by Bauchi State Governor Bala Mohammed, criticized the conduct of the election, which saw APC’s Governor Lucky Aiyedatiwa secure a landslide victory for another four-year term in Alagbaka, Akure.
“We are still reviewing documents from the Ondo election, where the APC openly bought votes and manipulated results,” Mohammed said.
He urged the judiciary to “save Nigerian democracy” and called on the National Assembly to strengthen electoral laws to prevent what he described as “institutional sabotage of the people’s will.”
The PDP governors also condemned the September governorship election in Edo State, describing it as a “rape of democracy.”
The forum accused the Independent National Electoral Commission (INEC) of colluding with the APC to declare its candidate the winner despite claims that the PDP candidate, Asue Ighodalo, had secured the majority of lawful votes.
“INEC blatantly manipulated the results in favor of the APC candidate. This undermines the credibility of our electoral process,” Mohammed said.
Beyond electoral grievances, the governors urged the PDP’s National Working Committee (NWC) to convene a National Executive Committee (NEC) meeting by February 2025.
They emphasized the need for broader consultations with stakeholders to resolve the party’s internal leadership crisis and strengthen its position as the main opposition party.
The forum reiterated its commitment to democratic values and vowed to push for electoral reforms that would restore public confidence in Nigeria’s electoral process.
The Ondo governorship election has sparked a renewed call for transparency in the country’s electoral system, with the PDP vowing to challenge what it views as a subversion of democracy.
Following his observations that ‘the momentum was strong’ Matt Gaetz whom 47th POTUS elect, Donald Trump nominated for Attorney General has withdrawn.
Biztellers reports that this follows his meeting with Senate and the feedback, which included two women, represented by their attorneys, who accused him of having paid for sex.
Consequently, Gaetz placed on record his full commitment to seeing “that Donald J. Trump is the most successful President in history.”
His withdrawal according his statement on micro-blogging site, X, was based on his conviction that “There is no time to waste on a needlessly protracted Washington scuffle”.
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In is view, “Trump’s DOJ must be in place and ready on Day 1”.
Gaetz wrote, “I had excellent meetings with Senators yesterday. I appreciate their thoughtful feedback – and the incredible support of so many. While the momentum was strong, it is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition. There is no time to waste on a needlessly protracted Washington scuffle, thus I’ll be withdrawing my name from consideration to serve as Attorney General. Trump’s DOJ must be in place and ready on Day 1.
“I remain fully committed to see that Donald J. Trump is the most successful President in history. I will forever be honored that President Trump nominated me to lead the Department of Justice and I’m certain he will Save America.”
His backers have promptly encouraged to take his seat in the House of Representatives, having been elected to the house under the flag of the Republicans to represent Florida.
The Executive Governors from Nigeria’s South West have unanimously nominated Senator Ademola Adeleke as the chairman of the zone on the National Economic Council (NEC).
Adeleke is the Executive Governor of Osun State, southwest, Nigeria.
This, according to the Spokesperson to Governor Adeleke, Olawale Rasheed, transpired on Thursday, at a meeting of the NEC.
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He noted that the meeting reviewed the state of Nigeria’s electricity sector and resolved to engage subnational structures to address current challenges in the sector.
“The meeting particularly sought to build on the devolution of the electricity sector and its movement into the concurrent legislative list which empowers state governments to regulate the sector in their respective areas,” he stated.
Consequently, the NEC, therefore set up an ad hoc committee to review actions in the sector by state governments and explore ways to ramp up activities through coordination, Rasheed highlighted.
The full list of members of NEC’s Ad-hoc Committee on National Electrification:
- Governor of Cross Rivers State, Bassey Out – Chairman, South-South
- Governor of Katsina State, Mallam Dikko Umaru Radda – Chairman, North-West
- Governor of Gombe State, Muhammadu Inuwa Yahaya – Chairman, North-East
- Governor of Osun State, Senator Ademola Adeleke – Chairman, South-West
- Governor of Imo State, Senator Hope Uzodinma – Chairman, South-East
- Governor of Plateau State, Barr. Caleb Mutfwang – Chairman, North-Central
- Hon. Minister of Finance, Wale Edun
- Hon. Minister of Budget and National Planning, Atiku Bagudu
- Special Adviser, NEC and Climate Change, Rukaiya El-Rufai
- Special Adviser, Power Minister, Hon. Bolaji Tunji
- MD/CEO Rural Electrification Agency, Abba Aliyu
- MD/CEO Niger Delta Power Holding Company, Jennifer Adighije
- Chairman, Nigeria Governors Forum, AbdulRahman AbdulRazak
- NEC Secretariat
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