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Gabon Extends Investment Offer To Dangote Amid Nigerian Attacks

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President Brice Oligui Nguema of Gabon has extended an invitation to Aliko Dangote, Africa’s wealthiest man, to invest in the country.

Dangote Industries Limited reported that the billionaire was encouraged to explore investment opportunities in the cement and fertilizer sectors, specifically in urea and phosphate.

According to the statement, Dangote held discussions with Nguema and other top government officials during his visit.

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Dangote Group said, “President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited (DIL), Aliko Dangote to invest in Cement and Fertiliser production in Gabon,” Dangote Group said in a statement.

“The President urged Dangote to explore potential investment opportunities in the country’s cement and fertilizer sectors, specifically urea and phosphate production.

“The talks focused on how Dangote Industries could contribute to Gabon’s economic growth by establishing cement and fertilizer plants, which are vital for the country’s infrastructure development and agricultural productivity.

“President Nguema expressed enthusiasm about the potential partnership, highlighting Gabon’s commitment to creating a conducive environment for foreign investments.

“He noted that the collaboration with Dangote Industries would bring significant benefits, including job creation, technology transfer, and enhanced industrial capacity.”

The invitation from Gabon, an oil-rich nation, comes amid ongoing tensions between Dangote, oil marketers, and top government officials.

Dangote had earlier revealed that a powerful group was hindering his efforts to import crude, which had slowed operations at his petroleum refinery.

The situation escalated when the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced that the Nigerian government had yet to license the Dangote Refinery to commence operations.

Farouk Ahmed, the CEO of NMDPRA, disclosed this while speaking with State House correspondents on Thursday.

Ahmed refuted the claims that there were ongoing efforts to disrupt Dangote Refinery’s operations due to a lack of crude oil supply from international oil companies.

He clarified that the refinery was still in the pre-commissioning stage and had not yet received its license.

He said, “There are lots of concerns about the supply of petroleum products nationwide and the claims by some media houses that we were trying to scuttle Dangote refinery; that is not so.

“Dangote refinery is still in the pre-commissioning stage. It has not been licensed yet. We have not licensed them yet.

“I think they are at about 45 percent completion. So we can not rely heavily on one refinery to feed the nation because Dangote is requesting that we should suspend or stop all importation of petroleum products, especially automotive gas oil (AGO) or jet kero and direct all marketers to the refinery.”

Ahmed argued that granting the request would promote a monopoly in the market and would not be beneficial for the nation in terms of energy security.

“So, in terms of quality, currently, the AGO quality in terms of sulfur in the lowest as far as a West African requirement of 50 ppm.

“Dangote Refinery, as well as some major refineries, like Walter Smith’s refinery, other refineries, they produce 650 to 1,200 ppm. So, in terms of quality, their quality is much, much inferior to the imported commodities,”

However, Dangote responded, stating that his products met international standards and had undergone rigorous testing to confirm this.

He also questioned why he was being targeted, mentioning that a friend who had advised him against investing billions of dollars into the Nigerian economy now taunted him over the current situation.

Dangote said in an interview, “Four years ago, one of my very wealthy friends began to invest his money abroad. I disagreed with him and urged him to rethink his action in the interest of his country.

“He blamed his action on policy inconsistencies and shenanigans of interest groups. That friend has been taunting me in the past few days, saying he warned me and that he has been proven right.”

However, on Monday, Heineken Lokpobiri, Nigeria’s Minister of State for Petroleum, called a meeting with Dangote and key officials in the oil sector to address and resolve the current crisis.

 

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Adeleke Opens Up On Osun Airport, Hails Makinde For Upgrading Ibadan Airport

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Osun State Governor, Senator Ademola Adeleke has expressed determination to revive and complete the almost 12-year-old Osun Airport project to exit Osun as the only state in the South West without an airport.

It was gathered that Gov Adeleke made the declaration at the flag off of the upgrade of Ibadan Airport to Ladoke Akintola International Airport where Governor Seyi Makinde described the Ibadan upgrade project as “economically viable and sustainable”.

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Gov Adeleke commended Gov Makinde as “a man of vision and a passionate agent of development”, and assured “we are pushing ahead with a very ambitious governance agenda.

“We are building roads, bridges, and flyovers. We are upgrading schools, health centers and reviving agriculture.

“We have turned Osun into a huge construction site. We adopt local content policy to deepen the local economy, create jobs for our people and spread skills acquisition. Like Governor Makinde who is Mr Actualiser of Oyo state, I am in a hurry to take Osun to an agro- industrial, export oriented economy.

“I am glad to announce to this August gathering that our government has concluded plan to complete the almost 12 years old Osun Airport project.

“Our Airport vision is now upgraded to include a cargo terminal alongside a free trade zone under a PPP arrangement.”

Gov Adeleke commended the Federal Government under President Bola Ahmed Tinubu for supporting the state’s aspirations for the development of the aviation sector.

“I indeed salute the Honourable Minister of Aviation for his supportive role for Osun and other states. We thank the Minister for supporting our vision to tap into the multi-trillion-dollar global aviation industry”, Gov Adeleke told the gathering of dignitaries.

On his part, Gov Makinde described the upgrade as “a strategic investment to be delivered on time and target”.

Citing investors who are already indicating interest, Gov Makinde described the flag off as the first phase, noting that the second phase would involve technical expansion of facilities.

According to Gov Makinde, the upgrade will take a year and not one and a half years, promising that sufficient funds will be allocated for early completion.

He expressed confidence in the capacity of the contractor, Craneburg, to deliver on the project.

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Accountants, Key Players In All Forms Of Fraud – EFCC Chairman

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Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), has urged accountants nationwide to uphold the highest standards of professional ethics and adhere to financial regulations.

Speaking at the 29th Annual National Conference of the Association of National Accountants of Nigeria (ANAN), Olukoyede — represented by the EFCC’s Director of Finance and Accounts, Ahmed Pate — emphasized that accountants often played a critical role in enabling fraud in the public sector.

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In a statement issued by Dele Oyewale, Head of Media and Publicity at the EFCC, Olukoyede called on ANAN to revoke the licenses of members found guilty of fraudulent activities.

He expressed a desire for a more responsible and effective accounting profession that would gain the public’s trust and encouraged ANAN to enforce strict professional standards among its members.

He said, “Indeed, there is hardly any public sector fraud that is possible without the complicity of an accountant. Whether it is embezzlement, procurement fraud, payroll fraud or pension fraud, the enablers are often accountants.

“Two former Accountant Generals of the Federation were investigated and indicted for fraud by the Commission. Without prejudice to ongoing prosecution in court, one of them, a Fellow of ANAN, placed pecuniary interests above professional and national interest in fiddling with the national till.”

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Remi Tinubu Steps Up With N500m To Alleviate Maiduguri’s Flood Crisis

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In a significant gesture of support, the First Lady Senator Oluremi Tinubu has pledged N500 million to aid victims of the recent devastating flood in Maiduguri, Borno State.

This commitment was announced during a visit aimed at offering solidarity to the affected region, which has seen over two million residents impacted by the disaster.

Representing the First Lady during the visit was Nana Kashim Shettima, the Vice President’s wife.

Read Also: I Canceled My US Trip To Console Borno Flood Victims – Tinubu

The delegation also included the wives of prominent political figures such as the Deputy Speaker of the House of Representatives, the Deputy Senate President, and the governors of Lagos and Yobe states, as well as other high-ranking officials.

The visit began with a respectful call to the Shehu of Borno’s palace, where the delegation conveyed their condolences over the flood’s damage.

The team then proceeded to the Government House, where they were welcomed by the Borno State governor, National Assembly members, the Speaker of the state assembly, and other key state officials.

In her address, Nana Shettima highlighted the remarkable resilience of Governor Zulum amidst the crisis.

She extended heartfelt sympathy to both the state government and its residents, before announcing the substantial donation of N500 million to support flood relief efforts.

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