News
Governor Abiodun Hails Dangote Refinery’s Impact on Nigeria’s Economy and Fuel Security
Ogun State Governor, Prince Dapo Abiodun, recently highlighted the economic benefits that the Dangote Refinery’s fuel production would bring to Nigeria, noting that it would help resolve persistent fuel shortages and conserve foreign exchange.
Speaking on the refinery’s impact, the governor expressed optimism that the production of petrol at the 650,000 barrels-per-day facility would significantly boost the nation’s economy by reducing the dependence on imported fuel.
The Dangote Refinery is set to begin supplying fuel to filling stations within the next 48 hours, following the finalization of agreements with the Nigerian National Petroleum Company Limited (NNPCL).
Governor Abiodun, in a statement issued by his Chief Press Secretary, Lekan Adeniran, emphasized that this development would address one of Nigeria’s most enduring economic challenges: its reliance on fuel imports, a burden that has weighed heavily on the nation for over three decades.
According to the statement, the commencement of production at the Dangote Refinery, alongside the expected operational revitalization of the Warri and Port Harcourt refineries, will provide significant relief for Nigerians who have been plagued by chronic fuel shortages.
The governor pointed out that with these three refineries coming online, the country’s economy is poised to experience a major boost, leading to stability in fuel supply and reduced pressure on foreign reserves.
Governor Abiodun praised Alhaji Aliko Dangote for his steadfast commitment to the multi-billion-dollar project, which he noted had been completed despite numerous obstacles.
He also commended President Bola Ahmed Tinubu for his active role in ensuring that the refinery was completed and began operations under his administration.
The governor acknowledged President Tinubu’s broader efforts to rejuvenate Nigeria’s refining capacity, noting that the president’s push to restore functionality to the Warri and Port Harcourt refineries would ultimately contribute to reducing fuel prices across the country.
With all refineries operating at full capacity, fuel production in Nigeria would meet domestic needs, alleviating the necessity for expensive imports.
“This remarkable achievement marks a transformative moment, not only for Alhaji Dangote as a visionary entrepreneur but also for Nigeria and the African continent as a whole,” Governor Abiodun said.
“The Dangote Refinery represents a monumental shift in the regional energy sector, driven by determination, resilience, and a commitment to economic advancement.”
The governor underscored the refinery’s potential to be a “game-changer” for Nigeria’s energy landscape, highlighting that local production of petrol would help resolve long-standing issues related to fuel imports.
By reducing dependence on foreign suppliers, the refinery would conserve vital foreign exchange, strengthening the nation’s economy and aligning with President Tinubu’s goals of economic diversification and self-sufficiency.
Beyond fuel production, Governor Abiodun noted that the refinery’s operation is expected to have far-reaching economic effects, including the creation of thousands of direct and indirect jobs.
This surge in employment will not only help lower the national unemployment rate but also stimulate local economies by providing income for numerous families.
Additionally, the growth of ancillary industries that support the refinery’s activities is expected to contribute to broader economic development.
Governor Abiodun further pointed out that the Dangote Refinery would play a key role in enhancing Nigeria’s energy security by producing large volumes of petrol, thereby stabilizing fuel supply.
This, in turn, would help reduce the volatility that often leads to shortages and sudden price hikes.
Such stability, he said, would create a more conducive environment for businesses to thrive and attract foreign investment, further driving economic growth.
In conclusion, Governor Abiodun expressed confidence that the Dangote Refinery’s successful launch would have lasting positive effects on Nigeria’s economy.
He emphasized that the refinery’s operations would not only strengthen the nation’s energy sector but also stimulate broader economic progress, ultimately benefiting countless Nigerians.
News
Diezani Alison-Madueke Seeks Court Approval to Amend Lawsuit Against EFCC Asset Forfeiture
Former Petroleum Minister Diezani Alison-Madueke has filed a motion to amend her lawsuit challenging the Economic and Financial Crimes Commission’s (EFCC) order for the final forfeiture of her seized assets.
At a Federal High Court hearing in Abuja presided over by Justice Inyang Ekwo, Alison-Madueke’s counsel confirmed filing the amendment motion and serving the EFCC. Notably, no EFCC representatives appeared in court.
The embattled ex-minister also sought an extension of time to contest the EFCC’s public notice regarding the sale of her confiscated properties, claiming she was denied a fair hearing during the forfeiture proceedings.
The EFCC, however, rejected Alison-Madueke’s allegations, maintaining that the forfeiture cases were lawfully adjudicated over time.
Justice Ekwo adjourned the case to February 17, 2025, to consider the motion to amend the originating process.
News
Tron Founder Justin Sun Buys $6.2M Banana Artwork, Plans to Eat It
Justin Sun, the founder of blockchain platform Tron, has purchased Comedian, a conceptual artwork by Maurizio Cattelan featuring a banana duct-taped to a wall, for $6.2 million at a Sotheby’s auction in New York.
Initially valued at $1–$1.5 million, the sale exceeded expectations, drawing bids from seven contenders. Originally priced at $120,000 during its 2019 debut at Art Basel Miami Beach, Comedian has sparked global debates about the absurdities of contemporary art.
Sun views the purchase as a cultural statement rather than a simple acquisition. “This bridges art, memes, and cryptocurrency,” he said, revealing plans to eat the banana as part of the artwork’s experiential essence.
Known for challenging societal norms, Cattelan’s works often provoke controversy. Buyers of Comedian receive instructions to replace the banana due to its perishability.
Sun’s acquisition highlights his growing involvement in art and tech intersections, following his $78.4 million purchase of Alberto Giacometti’s Le Nez. While celebrated as an entrepreneur, Sun has also faced legal challenges, including allegations of cryptocurrency manipulation.
The $6.2 million banana reinforces the unpredictable relationship between art, commerce, and culture, embodying modern art’s power to provoke and perplex.
News
Peter Obi Donates ₦20 Million to Mary Agro Farms for Food Security
Peter Obi, the presidential candidate of the Labour Party, recently took to his social media handle to share his visit to Mary Agro Farms, located in Omughu, Obeleagu-Umana, in the Ezeagu Local Government Area of Enugu State.
After attending the Peaceland University conference in Enugu, Obi traveled to the farm to witness firsthand the progress of one of the nation’s promising agricultural initiatives.
In his post, Obi reflected on his previous visit to the farm’s pilot scheme in Udi over two years ago, during which he offered his support.
Yesterday’s visit to the farm’s permanent site, however, left him astounded by the remarkable transformation that had taken place.
The expansion of Mary Agro Farms is a testament to the hard work and resilience of its management and staff.
Obi praised the farm for its significant progress, noting that the scale of operations had grown considerably, demonstrating the immense potential of innovative farming practices to boost food security in Nigeria.
As part of his commitment to supporting productive ventures, Obi made a generous donation of ₦20 million to Mary Agro Farms.
He expressed his hope that the farm would continue to stay innovative and productive, especially during a time when Nigeria is grappling with severe hunger, food scarcity, and inflation.
The visit came at a time when global organizations have raised alarm over the worsening hunger crisis in Nigeria.
The United Nations recently issued a stark warning, indicating that at least 33 million Nigerians could face a major hunger crisis by 2025 unless urgent measures are taken.
In addition, a report by Save the Children International highlighted that 5.4 million Nigerian children are at risk of acute malnutrition within the same period.
These statistics paint a grim picture of the food security situation in the country and emphasize the need for immediate intervention.
Obi urges action by calling governments at all levels to prioritize and invest in food production to address the crisis.
He stressed that the ongoing food scarcity and inflation must be met with concrete efforts to boost local food production and secure the nation’s future.
Mary Agro Farms, which has already demonstrated its potential with a strong commitment to agricultural productivity, has played a significant role in tackling food security challenges in the region.
The farm’s success story is a model for how innovative farming techniques can transform the agricultural sector and contribute to the fight against hunger in the country.
By expanding its operations and scaling up production, Mary Agro Farms aims to play a part in alleviating the pressure on Nigeria’s food supply, which is critical in a nation struggling with high food prices and limited access to basic nutrition for many of its citizens.
Obi commended the management and staff of Mary Agro Farms for their dedication and urged them to continue their efforts, emphasizing that the country’s path to a more secure and well-fed future lies in the hands of innovators and hardworking individuals like them.
-
Entertainment24 hours ago
Apple Music Crowns Kendrick Lamar The Rapper Of The Year Even Without Album
-
Entertainment5 hours ago
Davido Reflects on Life as He Turns 32 and Donates N300M to Orphanages
-
Business3 hours ago
NNPCL Launches Utapate Crude to Increase Nigeria’s Oil Exports
-
News6 hours ago
Man Found Dead in Ogun Hotel After Returning from the U.S.
-
News4 hours ago
MDCAN Praises Tinubu for Resolving UNIZIK Crisis and Supporting Medical Professionals
-
News22 hours ago
Tinubu Sacks UNIZIK Council Due to Irregular Appointments
-
Sport24 hours ago
Pep Guardiola Determined To Stay In Manchester City Despite Having No Break Clause
-
Entertainment4 hours ago
“I Really Have A Thing For Short Skirts And Dresses” – Falz Says In An Interview