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Dangote Refinery Will Be Very Beneficial To Nigeria’s Economy – Peter Obi

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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.

 

Politics

ACF Pledges Support For Northern Presidential Candidates Ahead Of 2027 Elections

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The Arewa Consultative Forum (ACF) has announced its decision to back Northern candidates in the 2027 general elections, citing the urgent need to address the worsening socio-economic and security challenges facing the region.

In a communique issued after its National Executive Council meeting in Kaduna on Wednesday, the forum expressed deep concern over the economic state of Northern Nigeria under President Bola Ahmed Tinubu’s administration, attributing the region’s struggles to flawed governance and poor policy decisions.

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The ACF criticized the Federal Government’s economic policies, describing them as detrimental to the livelihoods of Northern citizens.

According to the communique, signed by the forum’s National Publicity Secretary, Professor Tukur Muhammad-Baba, the policies have compounded the already dire economic conditions in the region.

The statement reads, “Arewa people remain at a great disadvantage, being already worse off economically compared to other parts of Nigeria. While economic reforms are indeed desirable, they should not impoverish the same people they are meant to serve. Policies must have a human face.”

The forum noted that the North faces chronic food insecurity, limited educational and vocational opportunities for youth, and a heavy reliance on small-scale economic activities.

“Livelihoods are currently dependent on micro activities. The region faces acute and chronic food insecurity; its youths lack education and skills training. Daunting as these may be, they can be reversed. The time to think big is now,” the communique emphasized.

The ACF also addressed the pervasive insecurity in the North, warning that the situation has begun to erode public confidence in the government.

“Security is an irreducible minimum of human existence. In this regard, insecurity in its various manifestations remains the most worrisome challenge of Arewa people, that has even started to corrosively undermine the authority of government,” the forum stated.

It condemned the government’s response to the crisis, arguing that the Federal Government has failed to meet its primary duty of safeguarding lives and property.

“That those whose responsibility it is to provide security will be saying they are doing their best is unacceptable,” the communique said. “The minimum duty of government is to safeguard life and property, and doing anything less is a failure.”

The ACF faulted what it described as the “flawed leadership selection process” under the Tinubu administration, claiming it has elevated individuals without the requisite competence or experience to key positions.

It urged the Federal Government to “review, reassess, reevaluate, and re-order the direction of its economic policies with a view to giving it the needed human face.”

Looking ahead to the next general elections, the ACF pledged its support for Northern politicians who demonstrate a clear commitment to addressing the region’s challenges and fostering national development.

“Notwithstanding the parlous state of Arewa’s glaring economic conditions, the policies of the current Federal Government have continued to make matters much worse,” the communique stated.

 

 

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Politics

No Room For Abandoned Projects – Ganduje Warns Aiyedatiwa

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The National Chairman of the All Progressives Congress (APC), Abdullahi Ganduje, has urged Ondo State Governor Lucky Aiyedatiwa to prioritize completing ongoing projects and avoid leaving any abandoned during his second term in office.

Ganduje made the call on Wednesday at the APC’s national secretariat in Abuja after the Independent National Electoral Commission (INEC) presented Certificates of Return to Aiyedatiwa and his deputy, Adelami Olaide.

Governor Aiyedatiwa’s re-election was marked by a sweeping victory in all 18 local government areas of the state during last Saturday’s governorship election.

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Ganduje praised the outcome, describing it as a testament to the people’s confidence in the APC-led administration.

“I am happy about the landslide result. The election is not the effort of the elite and middle class alone; it is also through the effort of the grassroots,” Ganduje said. “Out of 203 wards, APC won 202, losing only one ward. This is a victory embraced by all.”

Ganduje highlighted the importance of continuity and urged the governor to leverage his experience from the previous administration led by the late Rotimi Akeredolu.

“As a deputy, you knew how projects were started by your late governor. You were part of it, also as a governor for 10 months, and now as a re-elected governor. For the next four years, you will continue,” he said.

“You know the terrains, geography, and physical landscape of all 18 local government areas. Use these insights to carve out projects that will improve the lives of the Ondo people.”

Meanwhile, Ondo APC Chairman, Ade Adetimehin, commended Ganduje’s leadership and strategic direction, which he credited for the party’s success in the election.

He also expressed gratitude to President Bola Tinubu for his unwavering support for Aiyedatiwa’s candidacy, despite internal opposition from some party stakeholders.

“We have finally killed PDP in Ondo,” Adetimehin declared. “Most of the leaders of that party have defected to the APC. With the landslide victory in this election, it is clear to the whole world that there is no PDP in Ondo.”

He further described Ganduje as a mentor whose leadership had been instrumental in uniting the party and ensuring victory at the polls.

Governor Aiyedatiwa, who succeeded Akeredolu and completed his tenure before securing re-election, has pledged to focus on delivering on his mandate and completing critical projects in his second term.

 

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INEC Presents Certificates Of Return To Ondo Governor-Elect, Aiyedatiwa

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The Independent National Electoral Commission (INEC) has formally issued certificates of return to Ondo State Governor-elect Lucky Aiyedatiwa and his deputy, Olayide Adelami, following their victory in Saturday’s governorship election.

The presentation ceremony took place on Wednesday at INEC headquarters in Abuja, where the commission’s National Commissioner for Ondo State, Kunle Ajayi, handed over the certificates.

Biztellers reports that Aiyedatiwa, the candidate of the All Progressives Congress (APC) and incumbent governor, emerged victorious in the election, securing 366,781 votes to defeat his closest rival, Agboola Ajayi of the Peoples Democratic Party (PDP), who garnered 117,845 votes.

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The results were announced in Akure on Sunday by the Returning Officer, Professor Olayemi Akinyemi, Vice-Chancellor of the Federal University, Lokoja.

Election observers described the polls as peaceful and credible, commending INEC for improved logistical arrangements.

The event was attended by top APC officials, including the party’s National Chairman, Abdullahi Ganduje, Ogun State Governor Dapo Abiodun, and other party members.

Ganduje hailed the outcome as a triumph for democracy in Nigeria.

“Since 1999, we have been enjoying democracy, and we always fine-tune it to ensure it is fair, free, and decent, so that it is the vote of the people that counts,” Ganduje said.

PDP Rejects Results

Despite widespread praise for the conduct of the election, the PDP has rejected the outcome, describing it as fraudulent. Its candidate, Ajayi, vowed to challenge the results in court.

Aiyedatiwa Pledges Better Leadership

Speaking after receiving his certificate of return, Aiyedatiwa expressed gratitude to the people of Ondo State for renewing his mandate.

“The mandate you have just renewed via your huge votes across 18 LGAs where we won convincingly has placed a burden on me to serve you better than I did before now,” he said.

Aiyedatiwa initially assumed office in December 2023 following the death of his predecessor, Rotimi Akeredolu.

 

 

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