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 leadership of the Labour Party (LP) under Julius Abure has been vindicated by the content of the Certified True Copy (CTC) of the Supreme Court judgement between Nenadi Usman and the party.
This was contained in a statement on its verified handle on micro-blogging site, X on Wednesday night.
According to the National Publicity Secretary
Labour Party, Obiora Ifoh
As promised earlier, we warned that Senator Nenadi Usman and her cohorts have been in the voyage of misleading Nigerians with wrong interpretation of the judgement of the apex court.
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There is no where it stated that the leadership of Barrister Julius Abure led executive has elapsed or that Nenadi Usman and her National Caretaker Committee has been directed to take over the leadership of the Labour Party.
The Supreme Court emphatically stated that issues within the political party are internal affairs of the party and that party supremacy must be observed.
It is pertinent for us to state clearly that there is no vacuum in the leadership of the Labour Party. The highest organ of the party, the national convention has in March 2024 elected its leaders in line with the constitution of the party and electoral act and their tenure is subsisting.
Consequent upon that, any meeting convened in disregard to the constitution of the party is illegal and the outcome null and void. We are therefore warning all those involved in the illegal meeting holding in Abuja to refrain from further factionalising the party and respect the constitution of the party as we will not fail to activate the provision of the party on disciplinary actions.
Okai Austin, a key figure in Kogi State’s Peoples Democratic Party (PDP), alongside his associates Okpanachi Jacob and Peter Onuma, has issued a formal apology to Governor Usman Ahmed Ododo after a media claim accusing him of diverting N13.4 billion from the state’s funds.
In a press conference held in March, the trio had made the explosive allegation, demanding that the funds be refunded.
However, on Tuesday, they withdrew the accusation and publicly apologized in a letter addressed to the governor.
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The letter, issued by Okai Austin on behalf of himself and his co-signatories, stated: “Upon further review and diligent comparison of the relevant facts, particularly those provided by the State Government concerning the disbursement of funds intended for local government development, I came to the realization, after much briefing and clarification, of the significant discrepancies in the information upon which the previous statement was based.”
The trio admitted that their earlier claim was based on inaccurate information and clarified that the funds in question were actually ₦3 billion, not ₦13.4 billion.
They also included documentation detailing the approved distribution of these funds, which was provided by the state government.
“We have no personal animosity, hatred, or ill feelings towards your government, personality, tribe, or any member of your family.
“We hold Your Excellency, Governor Usman Ododo, in high regard as the duly elected Governor of our esteemed state,” the letter continued.
Furthermore, they emphasized that their actions were not motivated by partisan differences or tribal bias, but rather from a genuine desire to participate in the democratic process and hold the government accountable.
The apology letter concluded with a full acceptance of responsibility: “We take full responsibility for any damage or inconvenience our assertions may have caused.”
The trio expressed sincere regret for any distress their earlier remarks might have caused the governor, his administration, or the people of Kogi State.
The Peoples Democratic Party (PDP) has officially endorsed Chief Jude Ezenwafor as its candidate for the November 8, 2025, Anambra State governorship election.
Ezenwafor, a real estate developer based in Abuja, was the only aspirant in the race and secured the support of all 853 accredited delegates from the 21 local government areas of the state.
The party’s primary election took place on Tuesday at the Dora Akunyili Women Development Centre in Awka.
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In line with party procedure, even though he was unopposed, delegates were issued ballot papers and asked to write down the name of their preferred candidate.
The voting began with 14 national delegates casting their votes before the state delegates took turns according to their local government areas.
Ezenwafor was declared winner by the head of the PDP National Committee overseeing the primary, Col. Chijioke Onwubuya (retd), who announced the results after the votes were counted.
Grateful for the party’s backing, Ezenwafor thanked the delegates and called for unity and hard work ahead of the election.
“I thank all the delegates for the massive support and their endorsement. We are going to work hard to ensure the party wins the governorship election,” he said.
Ezenwafor’s emergence follows his purchase of the party’s N40 million nomination form, making him the sole contender in the PDP’s governorship primary.
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