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Dangote Expands Refinery Storage Capacity to 5.3 Billion Litres

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The President of the Dangote Group, Aliko Dangote, announced plans to increase the storage capacity of the Dangote Petrochemical Refinery by 600 million litres, bringing the total capacity to 5.3 billion litres.

Speaking at the Afreximbank Annual Meetings and AfriCaribbean Trade & Investment Forum in Nassau, The Bahamas, Dangote highlighted the significance of this expansion in bolstering the refinery’s role as a strategic reserve for Nigeria’s petroleum products.

“We currently have 4.78 billion litres of storage capacity for refined petroleum products. With the additional 600 million litres, our refinery will effectively serve as the strategic reserve for the country,” Dangote stated.

Addressing questions about potential impacts on fuel prices, particularly petrol, Dangote referenced the refinery’s success in reducing diesel prices upon its introduction to the market.

“When we first started with diesel, prices dropped significantly from ₦1,700 to ₦1,200 per litre,” he noted, underscoring the refinery’s potential to stabilize and potentially lower fuel costs.

However, Dangote acknowledged that challenges remain in influencing petrol prices directly, stating, “The issue of gasoline is being handled by the government.” Despite these challenges, he expressed confidence in the refinery’s ability to contribute positively to Nigeria’s energy landscape.

Dangote also discussed regulatory concerns regarding the quality of imported fuels, advocating for stricter enforcement to prevent the entry of substandard products into the market.

“Dirty fuels have been linked to health issues such as cancer in Nigeria and across Africa,” he emphasized, calling for international cooperation to uphold fuel quality standards.

Reflecting on the journey of building the $19 billion refinery, Dangote revealed encounters with international oil companies and financial challenges, including attempts to disrupt the project’s progress.

“The mafia in the oil sector is stronger than in drugs,” he remarked, highlighting persistent efforts to impede the refinery’s development.

Despite these hurdles, Dangote remains steadfast in his commitment to advancing energy independence and economic growth, both in Nigeria and beyond.

He outlined plans to supply cheaper fuel to the Caribbean region, leveraging bilateral agreements and setting up terminals to facilitate energy accessibility.

As the refinery progresses towards full operational capacity, Dangote assured stakeholders of continued efforts to fulfill Nigeria’s energy needs responsibly.

“We’ve made significant strides in project financing and infrastructure development,” he concluded, affirming the refinery’s pivotal role in transforming Nigeria’s energy landscape.

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Oseni Congratulates Ajewole, Others on CCII Mandate Renewal

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Member representing Ibarapa East/Ido Federal Constituency in the House of Representatives and Chairman, House Committee on Federal Roads Maintenance Agency (FERMA), Engr. Aderemi  Oseni has extended his heartfelt congratulations to Chief Sulaimon Ajeniyi Ajewole and other members of the Central Council of Ibadan Indigenes (CCII) executives on their re-election.

Chief Ajewole was returned as the President-General of the apex Ibadan socio-cultural association, alongside other members of the executive council, who were all given the mandate to continue piloting the affairs of the association for another two-year term.

In a congratulatory message issued through his media aide, Idowu Ayodele, Oseni described the re-election of the Ajewole-led team as a reflection of the trust and confidence reposed in their leadership by the Ibadan indigenes at home and in the diaspora.

He commended the CCII leadership for its unwavering commitment to the progress, unity, and cultural advancement of Ibadanland while expressing optimism that the renewed mandate would further propel the association to greater heights.

“The re-election of Chief Ajewole and his team is not only a testament to their sterling performance over the last term but also an affirmation of their capacity to continue serving the interest of Ibadan indigenes. I extend my warmest congratulations and best wishes for a more impactful tenure,” he said.

The lawmaker further assured the CCII of his continued support for any initiative geared towards the development of Ibadanland and the preservation of its rich heritage.

The CCII is renowned for its pivotal role in mobilising Ibadan sons and daughters towards the socio-economic development of the65 ancient city and beyond.

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Ex-Oyo Governor,  Olunloyo, Passes On at 89

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The political and academic communities in Nigeria were thrown into mourning on Sunday following the death of Dr. Victor Omololu Olunloyo, a former governor of the old Oyo State.

Dr. Olunloyo, a distinguished mathematician, seasoned politician, and elder statesman, died in the early hours of Sunday after reportedly battling age-related ailments. He was aged 89 and would have clocked 90 in about three months.

Born into the aristocratic Olunloyo family of Ibadan, the late statesman made history in 1983 when he was elected governor of the old Oyo State under the platform of the National Party of Nigeria (NPN). His tenure, however, was short-lived as the military coup of December 1983 abruptly ended the Second Republic and consequently his time in office.

Known for his brilliance and sharp intellect, Olunloyo was widely regarded as the first and only individual to have ruled Ibadan as a distinct administrative unit before the restructuring of states in Nigeria.

A family source who confirmed his passing described his final weeks as a period of intense struggle with age-related health complications.

“The family is currently in mourning and will make burial arrangements public in due course,” the source said.

More details to follow…

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Rep Oseni Bids Farewell to Oyo Political Stalwart, Adeojo

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A member of the House of Representatives, Engr. Aderemi Oseni has paid glowing tribute to the late elder statesman and political icon, Alhaji Yekini Adeojo, describing his passing as the end of an era in Oyo State politics.

The lawmaker, who represents Ibarapa East/Ido Federal Constituency, extolled Adeojo’s lifelong commitment to the advancement of democracy and community development in the state and beyond.

In a statement released through his media aide, Idowu Ayodele, on Friday, in Ibadan, Oseni, who is also the Chairman, House Committee on Federal Roads Maintenance Agency (FERMA)  expressed deep sorrow over the demise of the former chieftain of the Peoples Democratic Party (PDP), noting that Adeojo’s legacy of selfless service, mentorship, and unwavering patriotism will continue to inspire generations of political leaders in the region.

“Alhaji Yekini Adeojo was not only a political leader but also a symbol of courage and unwavering loyalty to the good of Oyo State. His contributions to the socio-political growth of our dear state, especially during the formative years of the Fourth Republic, remain indelible,” he said.

The lawmaker stated that the elder statesman was always full of wisdom and generously offered guidance to younger politicians irrespective of party affiliation.

“His doors were always open. He believed in giving others a sense of belonging. We have lost a father figure,” he added.

The APC chieftain, Oseni, who shares the same Ido Local Government Area as the late Adeojo, extended his condolences to the deceased’s immediate family, the Ibadan community, and the broader political circle in Oyo State, urging them to find solace in his impactful legacy.

He prayed for the peaceful repose of Adeojo’s soul and fortitude for the family to bear the irreparable loss.

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