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Investment in Refinery, Petrochemicals is Driven by Innovation, Efficiency, Says Dangote

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The ongoing investment in refining, petrochemicals, fertilizer and gas is driven by the desire to bring innovation and efficiency into all aspects of Nigeria’s oil and gas sector, the President/Chief Executive, Aliko Dangote has said.

Dangote, who made this disclosure yesterday at the ongoing Nigeria International Petroleum Summit in Abuja, said the company is committed to the concept of energy efficiency and innovation in the oil and gas sector.

The business mogul, whose 650,000 barrels-per-day capacity refinery is the largest in Africa, was represented by the Group Executive Director, Government and Strategic Relations, Dangote Industries Limited, Engr. Ahmed Mansur.

Addressing participants at the forum, Mansur said the theme of the conference, “Shaping the Future through Efficiency and Innovation”, was quite apt; given Nigeria’s quest for economic transformation.

According to him, Aliko Dangote is passionate about efficiency and innovation in the oil & gas sector through adding value to the hydrocarbon process.

Mansur said the company’s passion and drive is seen in the building of the project, which will become the world largest single train refinery on completion and therefore a boost to Nigeria’s economy.

He stated: “The Refinery can meet 100% of the domestic requirement of all liquid petroleum products (Gasoline, Diesel, Kerosene and Aviation Jet), leaving the surplus for export.

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“This high volume of PMS output from the Dangote Refinery will transform Nigeria from a petrol import-dependent country to an exporter of refined petroleum products. The refinery is designed to accommodate multiple grades of domestic and foreign crude and process these into high-quality gasoline, diesel, kerosene, and aviation fuels that meet Euro V emissions specifications, plus polypropylene”, he said.

Mansur disclosed that Dangote is also constructing the largest fertiliser Plant in West Africa with capacity to produce 3.0 million tonnes of Urea per year as part of the gigantic economic transformation project. He explained that the Dangote Fertiliser complex consists of Ammonia and Urea plants with associated facilities and infrastructure.

“Nigeria will be able to save $0.5 billion from import substitution and provide $0.4 billion from exports of products from the fertiliser plant. Thus, supply of fertiliser from the plant, which is set for commissioning before the second quarter of 2019, will be enough for the Nigerian market and neighbouring countries,” he added.

Speaking further, he said at a time when the oil and gas industry and the global economy is in a state of flux, it is most appropriate that attention should be given to the future especially given the incredible speed and quantum of change taking place in every facet of human endeavour.

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“Our economy in particular cannot afford to ignore these massive changes. Our decades of dependence on this industry for our economic well-being and the urgent need for diversification has been widely recognised and is clearly the most critical challenge for our policy makers.

“But even as we seek to diversity from oil, and we are, indeed, making observable progress in this regard, we cannot ignore the need to continue to exploit this God-given resources in a more efficient and innovative manner,” he added.

He commended the Management of the Nigerian National Petroleum Corporation (NNPC) for its unwavering support in Dangote’s quest to make Nigeria self-sufficient in the production of petroleum products.

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Makinde spends 74 hours with state officials drawing plan to transform agriculture

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IITA, AfDB salute Makinde’s vision

At a retreat in Cotonou, Republic of Benin to chart a path for transforming agriculture, Oyo State Governor, Engr. Seyi Makinde set a record in governance, by spending more than 72 hours with his state officials designing an implementation plan for Oyo state agribusiness.

The governor also promised officials of the state that the administration will give agriculture the necessary ‘political will’ to play its role and transform the economic fortunes of the state.

“I want to assure all the participants that Oyo State will provide the political will needed to make the state the agribusiness hub of Nigeria,” Gov Makinde said at the retreat that was facilitated by the International Institute of Tropical Agriculture (IITA) in Cotonou, Republic of Benin, 15-19 August.

Gov Makinde pledged to attract more private investments to agriculture by providing an enabling environment for the private sector to invest in the state. He said the state would ensure agribusiness-friendly policies that would boost investor confidence.

Since assumption of office on 29 May 2019, Gov Makinde has pledged to transform the narrative of agriculture with the view to making it the pillar of the state’s economic development. The retreat provided an opportunity for the Governor to unveil his vision for agriculture in the state.

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Dr Kenton Dashiell, IITA Deputy Director-General, Partnerships for Delivery commended the governor for demonstrating an uncommon leadership style by participating in all the sessions of the three-day retreat.

“I have never seen such a commitment from a governor… and I believe the document coming out of this retreat will help the state to achieve the vision of an agribusiness hub for Nigeria,” he added.

Dr. Martin Fregene, Director for Agriculture and Agro-Allied division with the African Development Bank said the commitment of the state to agriculture was a step in the right direction.

“Let me also commend you (the governor of Oyo state) for organizing this very important meeting, and participating fully in it to have a vision and an implementation plan for agribusiness in the state,” he added via skype.

Dr. Fregene urged the state government to adopt the agri-business approach to unlock the potential of agriculture in the state.

“For Oyo state to move forward in agriculture, you must treat agriculture as a business,” he explained.

According to the AfDB director, the Bank would be willing to support the state in its quest to transform agriculture.

The retreat had four sessions comprising: Developing a vision for the state in agriculture, identifying the obstacles to the vision, developing strategic actions to deal with the obstacles to the vision, and developing an implementation plan.

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Adebowale Akande, Executive Adviser to the Governor on Agriculture gave thumbs up to the retreat, adding that recommendations from the retreat would help the state to achieve its vision of becoming an agribusiness hub.

Makinde appoints Owoseni, former Lagos, Benue Commissioner of Police, Special Adviser.

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Bola Ige complex wants to reclaim lost glory, as Oyo govt reveals plan

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As part of the efforts of the Oyo State Government in creating conducive environment for businesses within the State to thrive, the present administration has revealed its plan in restoring Bola Ige International Business Complex, Gbagi, Ibadan back to international standard as provided in the master plan of the market.

 

This was contained in a communique issued after a stakeholders’ meeting held recently at the market between the market leaders and the task force committee set up by Governor Seyi Makinde to restructure the business complex.

 

The Chairman of the task force committee, Sanitarian Olusoji Oyewole in his briefing, assured the market men and women that the State Government remained committed to providing them the basic facilities that would promote the economic activities in the market.

 

“The Oyo State Government under the leadership of Engineer Seyi Makinde has deemed it fit to ensure that Bola Ige International Business Complex regains its lost age-long status as a major hub of wholesale textile materials, servicing both neighboring, far and distant States in Nigeria,” he said.

 

“The intention of the administration in setting up this task force is not to witch-hunt anyone in the market but rather towards seeking their cooperation and support for proper waste dumping of refuse, hygienic toilet facilities,

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large number of parking lots for convenience and easy access to the market as well as considerable open spaces in construction of approved buildings.”

 

He, thereafter urged the market community to keep to the environmental laws and town planning regulations of the State, noting that the market stood to benefit if commercial activities were carried out in clean and serene environment.

 

In his remarks, the representative of the elders’ forum in the market, Chief Adebayo expressed appreciation to the State Government and further pledged support of the market community towards the actualization of restoring the market to international standard.

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Pay For Temporary Use of Road Setbacks or We Take Them Over’ – Oyo Govt Warns Business Organizations

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Business organizations that built on the mandatory setbacks on major roads in Oyo State for temporary usage have been warned to pay for these spaces or have them taken over by government.

 

The Executive chairman, Oyo State Internal Revenue Service (OYSIRS), Aremo John Adeleke disclosed this on Thursday, saying the State administration was not happy with the attitude of most organizations using these spaces for failing to meet their financial obligations to the State despite being served many demand notices by the Board of Internal Revenue (BIR).

 

Adeleke who spoke with Journalists at his office shortly after an enforcement exercise under the Management of Public Space Scheme (MOPS) embarked upon by Oyo State Internal Revenue Services (OYSIRS) and the Ministry of Environment and Water Resources.

 

He stated that for Government to be able to provide amenities in the State, organizations and other business owners needed to remit taxes, levies and dues to the rightful place as their civic duties.

 

He said, “Setbacks in public places are government properties and to use them, there should be payment for temporary use of such places. Most organizations have taken this for granted for so long and that is what necessitated our action at this point.

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“The focus of the first phase of the enforcement exercise is on the Banking Industry after that we will move to other sub-sectors. The government will recover the setbacks unless those affected do what is required.

 

“In the past, series of correspondence, plea and stakeholders meeting with those concerned yielded no response. Also,the second phase will come soonest and will reach others that refused to comply with the payment option.”

 

While appreciating those that complied,The Executive chairman implored other business owners and individuals with outstanding taxes,levies,charges and fees to pay up so as to forestall drastic step against them.

 

Among areas covered during the exercise are Total Garden, Agodi and Bodija all within Ibadan metropolis.

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