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Dangote says Company’s projected $30bn revenue will boost the Naira value

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Dangote says Company’s projected $30bn revenue will boost the Naira value

Dangote says Company’s projected $30bn revenue will boost the Naira value

 

President of Dangote Group, Aliko Dangote, on Sunday stated that his company’s aim is to become the leading supplier of foreign exchange in the FX market soon, as it targets $30 billion in revenues by the year 2025.

During a tour of the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited with media executives at the weekend, he said the plan is to attain independence from the Central Bank of Nigeria (CBN) in forex sourcing, highlighting a strategic shift in revenue composition within the cement business from the current 75 percent to 15 percent in the future.

The expected significant inflow of forex into Nigeria through his businesses, will automatically boosts the value of our local currency and make Naira regain its value in the comity of international currencies all over the world.

According to Dangote, the refinery began full operations in 2024, initially focusing on refining intermediate products such as polypropylene, naphtha, RCO, gasoline, diesel, and jet fuel.

He explained that the refinery entered its steady-state production phase in March 2024. Additionally, he anticipates production ramping up to 500,000 barrels per day (bpd) with 15 crude cargoes per month by August, increasing to 550,000 bpd by the end of the year, and aiming for 650,000 bpd by the first quarter of 2025.

“Petrol production is to commence in July with sales from August,” assured Dangote.

Dangote also hinted that the group intends to list both Dangote Petroleum Refinery & Petrochemicals and Dangote Fertilizer Limited on the Nigerian Exchange Group in the first quarter of 2025. He said that this initiative would enable Nigerians to participate in the ownership of these companies.

“Due to the nature of our business with both the refinery and the fertilizer, we are aiming to list them by the end of this year. However, depending on circumstances, worst-case scenario, we anticipate listing them before the end of the first quarter of next year. This will allow us to offer shares for sale and enable Nigerians to participate as shareholders,” Dangote stated.

The Dangote Refinery, which will process 650,000 barrels per day (BPD) at full capacity, stands as Africa’s largest oil refinery and the world’s largest single-train facility, while the Dangote Fertiliser Limited operates Africa’s largest Granulated Urea Fertiliser complex. Presently, Dangote Cement is Nigeria’s most capitalised company.

While noting that the total storage capacity of the refinery is 4.5 billion litres, sufficient to cover 20 days of Nigeria’s crude requirement and store products equivalent to 15 days of Nigeria’s petrol consumption, he stressed that the refinery would produce 53 million litres of petrol per day and 1.1 million tonnes per day.

He added that the refinery is equipped with dedicated loading gantries featuring 86 loading bays, alongside specialized marine facilities for the offloading of crude and the loading of petroleum products. Additionally, the facility, he said, includes a 900-kilotonne per annum polypropylene plant, with production capacities of 36,000 tonnes per annum for sulphur and 585,000 tonnes per annum for carbon black.

Dangote said that over the past four decades, the operations of Dangote Group have evolved significantly from a commodity trading company to a diversified conglomerate. He emphasised that this transformation was driven by the overarching goal of achieving self-sufficiency in key sectors and bolstering Nigeria’s economy.

He noted that the group, which began as a trading company in 1978, has expanded into a diversified conglomerate with investments spanning cement, agriculture, fertilizer, petrochemicals, oil & gas, auto assembly, infrastructure, and other sectors.

He said the group is driven by the idea that Africa’s future prosperity hinges on its ability to harness its own resources and capabilities. Dangote stressed that the continent inadvertently imports poverty and exports jobs by exporting raw materials and importing finished goods.

The Vice President, Oil and Gas, Dangote Industries Limited, Devakumar Edwin, reiterated the commitment of the company in enhancing local capacity in critical sectors of the economy.

He said Dangote Industries Limited has empowered young Nigerians to assume key roles across its operations, with many even becoming expatriates in other nations.

Edwin stressed the refinery’s status as the world’s largest single train complex constructed entirely by a Nigerian company, highlighting a significant achievement in local engineering and construction capabilities.

Noting that most refineries were built by foreign companies, he said it is a thing of pride that a Nigerian company, acting directly as Engineering, Procurement, and Construction (EPC) contractor, designed and built the world’s largest single train refinery complex. He said this has enhanced the capacity of many Nigerians involved in the process and that a Nigerian company can build a refinery anywhere in the world.

“It is a thing of pride that the largest single train refinery in the world is 100% designed, engineered, and constructed by a Nigerian company as EPC contractor,” he said.

While expressing gratitude to the media executives, Group Executive Director of Commercial Operations at Dangote Industries Limited, Fatima Dangote, reiterated the company’s dedication to creating a positive impact on the economy. She commended Aliko Dangote’s steadfast commitment to advancing the continent’s development.

“He (Dangote) is committed to ensuring the success of Nigeria and Africa as a nation and a continent. Our focus extends beyond profit to solving problems and achieving self-sufficiency across all sectors in Africa. By meeting global standards, we have positioned ourselves to export our products to every continent in the world,” she said.

Fatima pointed out that the group is not only the largest private employer of labour but also consistently ranks as one of the top taxpayers in the country each year, adhering to all relevant tax laws and regulations.

“We are known as one of the largest employers of labour. However, we are also conscious of ensuring our workers enjoy a good living standard. This is reflected in our inclusion in the list of top paying firms in the country. Our impact on employment generation extends to creating thousands of indirect jobs in the various communities that we operate in,” she added.

 

Dangote says Company’s projected $30bn revenue will boost the Naira value

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A Call to Unity and Focus: Overcoming Challenges Facing Nigerians in South Africa By George Omagbemi Sylvester

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A Call to Unity and Focus: Overcoming Challenges Facing Nigerians in South Africa

By George Omagbemi Sylvester

 

The Nigerian community in South Africa represents one of the most vibrant and dynamic African diasporas on the continent. Comprising students, entrepreneurs, professionals, and families, Nigerians have contributed significantly to the socio-economic and cultural landscape of their host country. From pioneering businesses to excelling in academic and healthcare institutions, their presence is both visible and impactful.

A Call to Unity and Focus: Overcoming Challenges Facing Nigerians in South Africa
By George Omagbemi Sylvester

However, beneath the surface of progress and resilience lie persistent challenges that threaten the peace, safety, and dignity of this community. These challenges—ranging from police brutality and lack of documentation to harassment, xenophobic violence, and political neglect—continue to define the lived experiences of many Nigerians in South Africa.

 

This piece is both a call to unity and a plea for purposeful action. It is an appeal for Nigerians in South Africa to rise above internal divisions—whether tribal, religious, or political—and refocus on the shared vision of securing justice, dignity, and equal opportunity for all. It is only through a unified, strategic, and internationally informed response that we can collectively address the systemic and social issues confronting our people.

Understanding the Challenges

1. Police Brutality and Unlawful Arrests

One of the most pressing concerns is the recurring issue of police brutality. Numerous reports by human rights organizations, such as Amnesty International and local advocacy groups, have consistently highlighted cases where Nigerians are disproportionately targeted by law enforcement agencies. From unwarranted stop-and-search operations to physical abuse and extortion, many members of the Nigerian diaspora live in perpetual anxiety, fearing encounters with authorities meant to uphold their safety.

Historically, the mistrust between immigrant communities and law enforcement in South Africa is rooted in post-apartheid socio-political dynamics. The police force, often under-resourced and inadequately trained in diversity management, has sometimes defaulted to racial profiling. Nigerians, often stereotyped as drug traffickers or scammers, bear the brunt of this systemic bias. These actions not only contravene Section 9 of the South African Constitution, which guarantees equality before the law, but also violate international human rights instruments such as the African Charter on Human and Peoples’ Rights.

2. Lack of Proper Documentation

The issue of documentation is a complex interplay of bureaucratic inefficiencies, immigration policy shifts, and misinformation. Many Nigerians encounter protracted delays in securing residency, asylum, or work permits, often due to policy changes or restrictive visa frameworks aimed at curbing irregular migration. The South African Department of Home Affairs has been criticized for slow processing times, opaque requirements, and inconsistencies in documentation procedures.

For undocumented Nigerians, the consequences are severe. They face exploitation by unscrupulous landlords and employers, limited access to healthcare, and the inability to enroll their children in public schools. Without legal status, they are also left out of the protection net offered by South African labor laws, exposing them to unsafe working conditions and wage theft.

This situation reflects a broader economic reality: South Africa, like many nations, is grappling with high unemployment and poverty, making immigration a politically sensitive issue. Unfortunately, immigrants—particularly from other African countries—are often scapegoated in public discourse.

3. Harassment, Xenophobia, and Violence

Perhaps the most alarming of all is the recurrent wave of xenophobic violence that has periodically erupted across South African cities. From the violent uprisings in 2008 to more recent attacks in 2019, Nigerians have frequently been among the primary targets. These attacks have led to loss of life, destruction of property, and psychological trauma within the community.

Culturally, these acts of violence contradict the spirit of Ubuntu—an African philosophy that emphasizes communal values, human dignity, and hospitality. Politically, they reflect the failure of successive administrations to effectively address socio-economic disparities and to lead public opinion away from xenophobic sentiments.

Internationally, such violence has strained South Africa’s diplomatic relations with countries like Nigeria. The 2019 attacks, for instance, prompted diplomatic protests, economic retaliations, and calls for stronger protections for foreign nationals. It underscored the need for sustained bilateral dialogue and continental cooperation under frameworks like the African Union’s Agenda 2063, which envisions “an integrated, prosperous, and peaceful Africa.”

The Need for Unity

In the face of these adversities, unity among Nigerians in South Africa is not optional—it is imperative. Unfortunately, internal fragmentation based on ethnicity, religion, or personal ambition has often undermined collective advocacy efforts. The Igbo, Yoruba, Hausa, and other ethnic subgroups sometimes operate in silos, diminishing their collective bargaining power.

Yet, diversity should be a strength, not a stumbling block. Nigeria’s cultural richness, forged through centuries of inter-ethnic interaction, must be mirrored in the diaspora. Whether through pan-Nigerian associations like the Nigerian Union South Africa (NUSA), professional bodies, or interfaith coalitions, there is a pressing need to organize around shared interests rather than sectional loyalties.

A unified Nigerian voice is more likely to influence South African policy, engage international organizations like the UNHCR or the International Organization for Migration (IOM), and partner effectively with civil society actors in promoting justice and reform.

Strategic Responses and the Path Forward

1. Legal Advocacy and Community Empowerment

There must be an intentional investment in legal literacy and access to justice. Community-based organizations should regularly host legal clinics to inform Nigerians of their rights, including what to do during police encounters, how to contest unlawful detentions, and how to file complaints with oversight bodies like the Independent Police Investigative Directorate (IPID).

Establishing legal defense funds and partnering with South African law firms or university law clinics can provide pro bono support. Furthermore, by pursuing litigation and filing public interest cases, the Nigerian community can help shape jurisprudence that protects all immigrants in South Africa.

2. Engagement with Host Authorities

Engagement with local and national government structures is crucial. Nigerians must participate in town hall meetings, integrate into ward committees, and attend public consultations on urban safety and integration policies.

The Nigerian diplomatic mission, including the High Commission and consulates, must play a more assertive role. Consular outreach, passport renewal drives, and emergency hotlines must be streamlined to provide timely and effective assistance. Diplomatically, Nigeria must also leverage bilateral relations—using trade ties, continental influence, and multilateral platforms—to ensure the rights of its citizens are respected abroad.

3. Media and Narrative Control

The media is a powerful tool in shaping perceptions. Community leaders, content creators, and journalists must challenge toxic stereotypes and highlight the success stories of Nigerians in South Africa. This could be through social media campaigns, documentaries, community radio programs, or contributions to mainstream outlets.

Public relations efforts should emphasize the positive economic impact Nigerians make—as business owners who create jobs, as healthcare workers saving lives, and as innovators advancing technology. A shift in narrative is essential for social inclusion and long-term peace.

4. Youth Engagement and Leadership Development

Youth are not just the future; they are the present. We must invest in building leadership capacities among young Nigerians through mentorship programs, civic education, entrepreneurship incubators, and digital literacy initiatives.

Organizations should create youth councils that are actively involved in decision-making, event planning, and advocacy campaigns. Cultivating young leaders ensures sustainability and infuses community efforts with energy and innovation.

A Time for Reflection and Action

This is a defining moment for Nigerians in South Africa. It is a time to reflect deeply on our shared journey—how far we have come, the hurdles we continue to face, and the future we must build together. The challenges are real, but they are not insurmountable.

Let us recommit ourselves to the ideals of unity, resilience, and strategic action. As we prepare for community milestones such as the upcoming inauguration and the launch of our cultural magazine, let these events serve not only as celebrations but also as rallying points—a call to purpose, vision, and collective responsibility.

By embracing unity and focusing our energies on building alliances, advocating for justice, and strengthening our institutions, we can overcome adversity and leave behind a legacy of strength and dignity for the generations to come.

A Call to Unity and Focus: Overcoming Challenges Facing Nigerians in South Africa
By George Omagbemi Sylvester

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You’re a visionary and an exceptional leader,Hon .Ashara extols Tinubu at 73

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The vice chairman of Amuwo Odofin local government Area,Hon.Ashara Maureen has felicitated president Bola Ahmed Tinubu as he celebrates his 73rd birthday today

Speaking to newsmen today in Lagos, the beautiful and elegant Hon. recapitulated that the president has performed magnificently and tremendously as he navigates the nation towards advancement “It feels so great to celebrate you, Baba; your drive towards nation building and transformation of our beloved country has been magnanimous,you have been a wonderful leader;I want to join the entire world to wish you a very happy birthday”

She enunciated that president Tinubu paid a huge price for the democracy we are enjoying in this country today by putting his his life at risk during the time of NADECO “i must confess that he’s a living legend that has made indelible mark,an Icon with a heart of gold,a rare gym that has affected lives positively;he laid the foundation and fought for democracy in this country, becoming the president wasn’t by mistake because he deserves it and even more;may the mercies of God envelope you,may God continue to guide and protect you as rescue the nation from collapse ”

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Panic as Late Singer’s Mother Cries Out Over Alleged Kidnap of Son After Court Appearance

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Panic as Late Singer’s Mother Cries Out Over Alleged Kidnap of Son After Court Appearance

Panic as Late Singer’s Mother Cries Out Over Alleged Kidnap of Son After Court Appearance

Lagos was thrown into panic on Wednesday after the mother of the late singer, Abosede Aloba, raised an alarm over the alleged abduction of her son, Adura, by unknown gunmen. The incident, which took place outside the Magistrates’ Court in Ogba, has sparked outrage and concerns over the safety of individuals involved in legal disputes.

According to eyewitnesses, Adura was forcefully taken away by unidentified armed men immediately after leaving the court premises. Speculation is rife that the abductors may be law enforcement officers acting under undisclosed directives.

Reports indicate that Adura was at the court over a dispute with Damola Ayinde regarding the sale of a mobile phone. The legal battle, however, escalated into a broader case involving actor Yomi Fabiyi, Damola Ayinde, and other parties.

Mother’s Cry for Help

Following Adura’s sudden disappearance, his distressed mother, Abosede Aloba, was seen in a car weeping and calling for assistance. In an emotional outburst captured on video, she accused actor Yomi Fabiyi and another individual, Sam Jojo, of orchestrating the abduction.

“Please help me, people of God! It’s Yomi Fabiyi. They’ve taken my son, and I don’t know where they’re taking him,” she lamented.

Abosede further alleged that Adura was not in good health at the time of his abduction, raising fears about his well-being and safety.

Public Outcry and Calls for Investigation

The alleged abduction has ignited public outrage, with concerned citizens and human rights activists calling on the Lagos State Police Command to immediately investigate the incident and ensure Adura’s safe return.

So far, neither the police nor the accused individuals have issued official statements regarding the allegations. However, the growing tension surrounding the case has intensified calls for justice and transparency.

As of press time, efforts to reach Adura’s family for further updates have been unsuccessful. The situation remains fluid, with many awaiting clarification on the circumstances surrounding his disappearance.

 

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