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THE INAUGURATION OF THE DANGOTE REFINERY AS THE BEST DEVELOPMENT FOR REAL ESTATE INVESTORS BY DENNIS ISONG 

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2 years ago

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THE INAUGURATION OF THE DANGOTE REFINERY AS THE BEST DEVELOPMENT FOR REAL ESTATE INVESTORS BY DENNIS ISONG 

THE INAUGURATION OF THE DANGOTE REFINERY AS THE BEST DEVELOPMENT FOR REAL ESTATE INVESTORS BY DENNIS ISONG

 

 

 

 

 

 

 

 

Sahara Weekly Reports That The highly anticipated Dangote Refinery, a monumental project, was inaugurated with great fanfare on May 22nd, 2023, by President Buhari in Lagos, Nigeria’s bustling economic hub. This marked a significant milestone in the nation’s pursuit of energy self-sufficiency and economic development.

 

 

 

 

 

THE INAUGURATION OF THE DANGOTE REFINERY AS THE BEST DEVELOPMENT FOR REAL ESTATE INVESTORS BY DENNIS ISONG 

 

 

 

 

 

 

 

The Dangote Refinery stands tall as a testament to engineering marvels and cutting-edge technology. Boasting an impressive capacity of 650,000 barrels per day, it proudly holds the distinction of being the largest single-train refinery globally. Its state-of-the-art infrastructure and advanced processing capabilities position Nigeria as a prominent player in the global petroleum industry.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

With its colossal capacity, the Dangote Refinery is poised to address Nigeria’s long-standing challenge of meeting its domestic demand for refined petroleum products. As the refinery ramps up operations, it aims to achieve an ambitious target: satisfying 100% of Nigeria’s ever-growing appetite for these essential commodities. This achievement would significantly reduce the country’s dependence on imports and enhance energy security for its citizens.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

While primarily designed to cater to domestic needs, the Dangote Refinery also has strategic plans to contribute to Nigeria’s foreign exchange earnings through exports. Approximately 40% of its refined products will be allocated for international markets, bolstering the country’s economic position on the global stage. By capitalizing on its abundant resources and efficient production, Nigeria can diversify its revenue streams and strengthen its economic resilience.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nigeria’s heavy reliance on imported petroleum products has long been a financial burden. In the year 2022 alone, the nation incurred a staggering expenditure of N10.1 trillion or $23 billion on importing these essential fuels.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

However, with the commissioning of the Dangote Refinery, the trajectory is set to change. The refinery’s robust capacity and local production capabilities will substantially reduce Nigeria’s reliance on expensive imports, fostering economic growth and stability.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nigeria’s external reserves, a crucial indicator of its economic health, presently stand at an impressive $35 billion. While this figure may seem substantial, it is important to note that it represents only six months’ worth of imports.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recognizing the significance of maintaining adequate reserves for economic stability, Nigeria must continue its efforts to bolster and diversify its revenue streams.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The successful operation of the Dangote Refinery plays a vital role in this pursuit by generating foreign exchange earnings and reducing the drain on the country’s external reserves.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Dangote Refinery in Lagos holds immense potential for Nigerians considering property investments in the area.By analyzing several key factors, we can better understand the capacity, impact, and economic context surrounding the refinery, highlighting the compelling reasons for individuals to seize this opportunity.

 

 

 

 

1.Job Creation and Economic Growth:

 

 

The establishment of the Dangote Refinery is set to generate a significant number of direct and indirect employment opportunities.

 

 

This influx of jobs will attract individuals from various regions, leading to a surge in demand for housing in Lagos.

 

Investing in properties located near the refinery presents an enticing prospect, as it can provide rental income or the potential for substantial resale value, considering the increasing workforce’s accommodation needs.

 

 

 

2. Population Growth:

 

As the refinery commences operations and draws a substantial workforce, the population in Lagos is anticipated to experience notable growth.

 

This population surge necessitates a corresponding increase in residential properties to meet the rising demand. Purchasing properties in close proximity to the refinery enables investors to benefit from the escalating need for housing and potential appreciation in property values.

 

 

 

3. Infrastructure Development:

 

The establishment of the Dangote Refinery will act as a catalyst for comprehensive infrastructure development in Lagos. To support the refinery and accommodate the growing population, enhanced transportation networks, roads, utilities, and social amenities will become imperative. Investing in properties situated near these infrastructure development projects can result in improved accessibility, convenience, and increased property values over time.

 

 

 

4. Foreign Investments:

 

The presence of the Dangote Refinery is expected to attract foreign investments, thereby enhancing Lagos’s overall economic outlook. Foreign investors seeking real estate opportunities are likely to concentrate on areas surrounding the refinery due to the projected growth and potential returns. Acquiring properties in close proximity to the refinery aligns investors with the influx of foreign capital, increasing the potential for long-term value appreciation.

 

 

 

5. Improved Standard of Living:

 

The economic benefits arising from the Dangote Refinery, such as job creation and increased foreign investments, will contribute to an improved standard of living in Lagos.

 

Investing in properties near the refinery allows individuals to reap the advantages of the refinery’s positive impact on the local economy and enjoy the amenities and infrastructure developments that follow. This, in turn, can lead to an enhanced quality of life for residents and potential appreciation in property values.

 

 

 

6. Reduction in Fuel Imports:

 

The primary objective of the Dangote Refinery is to fulfill Nigeria’s demand for refined petroleum products and reduce the nation’s reliance on fuel imports.

 

This shift will have a positive impact on the country’s trade balance and foreign exchange reserves, leading to a stronger economy. A more stable currency resulting from improved trade balance can make property investments in the area an attractive option for Nigerians seeking to preserve and grow their wealth.

 

Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041

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Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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Dangote Supports FCT, Kogi In N16bn Food Programme

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6 hours ago

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April 16, 2025

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Dangote Supports FCT, Kogi In N16bn Food Programme

……FCT Minister, Kogi Gov applaud ADF

 
The Federal Capital Territory(FCT) Abuja and the Kogi State Government have received food donation from the Aliko Dangote Foundation (ADF), as part of the N16 billion Annual National Food Intervention programme launched last month.
Speaking at the flag off Tuesday in Abuja, Senior Special Adviser to the President of Dangote Group, Hajiya Fatima Wali Abdurrahman, said 10,000 bags of 10kg rice were donated to the Federal Capital Territory(FCT), Abuja for onward distribution to the poor and the vulnerable persons.
She said the intervention programme by the Aliko Dangote Foundation is aimed at supporting governments at all levels to cushion the effects of economic challenges in the country.
According to her, the intervention programme debut in 2024 when the company donated food worth N15billion to all the 774 Local Government Areas in the country.
She said Chairman of the Aliko Dangote Foundation, Alhaji Aliko Dangote, is passionate about given back to the society, and the needy especially.
Speaking at the flag off ceremony, Minister of the FCT Nyesom Wike, who was represented by Ango Abdullahi Suleiman, said the government appreciates Alhaji Aliko Dangote’s gesture.
The Minister said Mr. Dangote has contributed enormously to the economic development of Nigeria, while promising to ensure that the food items reach the poor.
Meanwhile, in Kogi State, the Commissioner for Humanitarian Affairs and Poverty Alleviation, Hajia Rabietu Okute, said 40,000 bags of 10kg rice have been received from the ADF.
She said the food items were distributed to the poor and vulnerable persons in the State.
On the distribution process, she explained that it followed Governor Ahmed Usman Ododo’s directive, who tasked the committee with ensuring the food items reach vulnerable residents across the state.
Mrs. Okute stated that the distribution was flagged off in the state on March 26, 2025.
Speaking on how the food items were shared, the Commissioner said: “We shared the 40,000 bags of rice through the 21 Local Government Areas. The LGAs also shared the product to the 239 wards.”
She added: “Before this, a committee of 12 persons per Local Government was set up, and the State Government moblized the committees. The products were distributed to vulnerable  groups like the union of disabilities and the 23 orphanages in the State.”
The Commissioner applauded the Aliko Dangote Foundation, while describing the intervention as a genuine act compassion and philantrophy.
She added: “On behalf of the people and government of Kogi State, we want to thank the Aliko Dangote Foundation, and specifically Alhaji Aliko Dangote himself for this food support. We are grateful and happy, and it means a lot to us. May God continue to support him and his businesses.”
Responding, General Manager Community Affairs/Special Duties, Dangote Cement Plc, Mr. Ademola Adeyemi, who supervised the distribution on behalf of ADF, said the food donation to Kogi will further boost the relationship between the company and the state.
Managing Director and Chief Executive Officer of the Aliko Dangote Foundation, Zouera Youssoufou, had said that the Annual National Food Intervention programme is a way of giving back, and supporting governments in fighting poverty and hunger in Nigeria.
She said Mr. Dangote is passionate about philanthropy and committed to ensuring that hunger is reduced to the minimum in Nigeria.

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NYCN Governor, Idahosa Urges Diaspora Youths to Seize Global Market Opportunities …Pledges to Collaborate with The Global Clusters

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1 day ago

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April 15, 2025

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NYCN Governor, Idahosa Urges Diaspora Youths to Seize Global Market Opportunities

…Pledges to Collaborate with The Global Clusters

Ambassador Collins Idahosa, Governor of the National Youth Council of Nigeria (NYCN), European Chapter, has urged Nigerian youths in the diaspora to transcend limitations and seize the abundant opportunities available in global markets through innovation and entrepreneurship.

He highlighted that such initiatives would facilitate international networking, enabling young Nigerians to establish businesses, create jobs, and forge partnerships that stimulate economic growth and technological advancement in Nigeria.

In his address titled “Rise Up, Nigerian Youths,” Idahosa asserted that the future of Nigeria lies in the hands of its youth, both at home and abroad.

Speaking at a youth forum on Monday, themed “Innovation and Entrepreneurship Opportunities for Nigerian Youth in the Diaspora,” he urged Nigerian youths overseas to capitalise on global opportunities to reshape both their nation and the wider community.

“Innovation and entrepreneurship offer limitless prospects for Nigerian youths in the diaspora to contribute significantly to their home country and the global arena.

“With their exposure to diverse cultures, advanced technologies, and innovative business models, diasporan youths are uniquely positioned to drive innovation across various sectors,” he stated.

He emphasised the importance of the diaspora, describing it as an extraordinary asset. In 2023 alone, Nigerian remittances surpassed $20 billion.

“By harnessing their international networks, they can establish businesses, create jobs, and foster partnerships that promote economic growth and technological progress in Nigeria,” he added.

He further pointed out that the growing availability of digital platforms and the rise of global collaboration facilitate the ability of Nigerian youths abroad to provide innovative solutions to local challenges, particularly in technology, healthcare, agriculture, and education.

“By tapping into global markets and leveraging their acquired skills and knowledge, they can play a pivotal role in transforming Nigeria’s economy. Additionally, by fostering innovation and creating sustainable business models, diaspora youths can actively contribute to their states’ development agendas.”

He reiterated his call for the establishment of State Diaspora Agencies to create formal frameworks for engagement between states and their citizens abroad.
He said states such as Edo and Kwara have already made progress with dedicated agencies, and he urged others to build upon these efforts for sustainable diaspora engagement that ensures continuity, maximises investments, and drives development.

Idahosa expressed his honour at being invited to the prestigious World Youth Summit 2025 in Thailand, scheduled for July 14–18, 2025, at the United Nations venue in Bangkok.

He pledged to continue advocating for Nigerian youth worldwide, with the support of Ambassador Dr. Adekunle Badmus, Global President of The Global Clusters.

He noted that The Global Clusters is a groundbreaking international network committed to youth development, innovation, and global impact, making it a strategic ally in shaping the future of African youths both at home and abroad.

Notably, Dr. Badmus also serves as Nigeria’s ambassador to the National Youth Council of Nigeria in Turkey. Idahosa aims to leverage this opportunity to further champion the values and goals of the National Youth Council of Nigeria.

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Al Humphrey Onyanabo Launches The Best of Nigeria Magazine: A Digital Celebration of Icons, Innovators, and Nation Builders

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3 days ago

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April 14, 2025

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Al Humphrey Onyanabo Launches The Best of Nigeria Magazine: A Digital Celebration of Icons, Innovators, and Nation Builders

 

Veteran society writer Al Humphrey Onyanabo has launched a powerful new publication — The Best of Nigeria magazine — a bold, digital-first magazine dedicated to celebrating the individuals driving Nigeria’s progress across politics, business, faith, sports, entertainment, and philanthropy.

A seasoned chronicler of Nigeria’s elite and cultural vanguards, Onyanabo( he is also publisher of the news platform,(www.nigeria360.com.ng) brings his signature storytelling style to this exciting platform, presenting compelling narratives of excellence, legacy, and resilience. The publication seeks to inform, inspire, and elevate the national conversation by spotlighting those who are shaping the soul and future of Nigeria.

Leading with Leadership: H.E. Senator Barau I. Jubrin
Front and center in the maiden May edition is a powerful profile of H.E. Senator Barau I. Jubrin, Deputy Senate President — described as “the silent power broker” — whose strategic influence is quietly shaping Nigeria’s political architecture. This feature explores his disciplined leadership style, legislative impact, and national relevance.

A Vision Rooted in National Pride
According to Onyanabo, “The Best of Nigeria isn’t just a magazine — it’s a platform of pride and purpose. We are shining a light on those who reflect the strength, brilliance, and ambition of our people, at home and abroad.”

Now available in digital format, the magazine will soon transition into print editions, allowing for broader circulation and deeper engagement with readers across Nigeria and the diaspora.

Inside the May Edition,
The second edition is packed with thought-provoking features and powerful tributes, including:

Dr. Leemon Ikpea, Chief executive officer of The Lee Engineering Group: From humble beginnings to 35 years of excellence in oil and gas.

President Bola Ahmed Tinubu @ 73: A close look at leadership, reforms, and the future.

Dr. Taiwo Afolabi, (CON), CEO, SIFAX GROUP: Building a business empire on vision and integrity

Capt. Chris Najomo: Piloting a new chapter for Nigerian aviation

Pastor E.A. Adeboye @ 83: The humble visionary behind RCCG’s global expansion

Chief Bishop Emma Okonkwo: A celebrated legacy of enterprise and philanthropy

H.E. Goodluck Jonathan: From barefoot boy to global peace laureate

Victor Osimhen: From the streets of Lagos to global football stardom

Uzor Arukwe: Nollywood’s versatile star shining in Love In Every Word

Mr. Jim Ovia: A tribute to the godfather of modern Nigerian banking and founder of Zenith Bank

Mr. Pascal Dozie: Honoring the legacy of the visionary founder of Diamond Bank

And many more inspiring stories of Nigerians breaking boundaries around the world.

With each edition, The Best of Nigeria will continue to uncover and celebrate the champions of our society — the quiet heroes, the headline-makers, and the legacy-builders.

Beyond celebrating outstanding individuals, The Best of Nigeria magazine is also committed to showcasing the rich tapestry of Nigeria’s tourism, culture, and creative economy to a global audience. From breathtaking destinations like the Obudu Mountain Resort and Erin Ijesha Waterfalls to historical gems like the Benin Bronzes and the Nok Terracotta, the magazine will highlight the beauty, diversity, and heritage that make Nigeria a top destination for cultural exploration and adventure.

In addition, The Best of Nigeria will serve as a gateway to the country’s thriving creative and economic sectors — spotlighting Nollywood’s global rise, the infectious pulse of Afrobeats, the elegance of Nigerian fashion, and the power of local art. It will also promote viable investment opportunities across real estate, agriculture, tech, and tourism, positioning Nigeria not only as a cultural powerhouse but as a land of innovation, enterprise, and limitless potential.

The journey to tell Nigeria’s most inspiring stories has begun. And this is only the beginning.

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