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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.
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CRG: Politicians Must Stop Witch-Hunting, Focus on Nation Building — Says NYSC Cleared Deputy Speaker Since 2023
CRG: Politicians Must Stop Witch-Hunting, Focus on Nation Building — Says NYSC Cleared Deputy Speaker Since 2023
By: Boye Ola
The Centre for Responsible Governance (CRG) has called on political actors and interest groups to desist from what it described as needless witch-hunting of the Deputy Speaker of the House of Representatives, Benjamin Okezie Kalu, following renewed controversies surrounding his National Youth Service Corps records.
The organisation noted that the clarification by the National Youth Service Corps (NYSC) regarding the matter is not a recent development, as a formal verification letter had already been issued as far back as May 23, 2023.
The letter, referenced NYSC/CCD/VER/10/5.1/VOL1/02, had already addressed and cleared the questions surrounding the Deputy Speaker’s NYSC records.
Reacting to the renewed debate, the spokesman of the Centre,
Obande George, said it was troubling that issues which had already been clarified by a competent national institution were being resurrected for political purposes.
According to him, the time has come for political actors to move away from destructive engagements and concentrate on building the nation.
“It is important to note that the NYSC had already issued a verification letter dated May 23, 2023 addressing the matter.
Reopening issues that have already been clarified by a competent authority suggests that some individuals are more interested in political witch-hunting than in national progress,” George said.
The CRG stressed that democracy thrives when institutions are respected and their determinations are accepted in good faith rather than constantly questioned for political advantage.
George also commended the Deputy Speaker for demonstrating maturity and composure throughout the controversy, despite what he described as sustained provocations.
“Honourable Benjamin Kalu has shown remarkable calm and maturity in the face of intense public scrutiny and political provocation.
Instead of engaging in unnecessary public confrontation, he allowed institutions to speak through their records.”
The Centre warned that Nigeria’s political culture must evolve beyond constant character attacks and sensational allegations, which often distract public officials from their responsibilities.
According to the organisation, the country’s development requires constructive engagement among political actors rather than continuous attempts to discredit opponents.
“Nigeria cannot move forward if political energy is constantly spent on digging up allegations and amplifying rumours. Our leaders and political actors must redirect their focus to governance, policy and nation building.”
CRG therefore urged Nigerians to rely on verified information from credible institutions and avoid spreading speculative claims that could damage reputations or destabilise public discourse.
The organisation reiterated that respect for due process and institutional integrity remains essential for strengthening Nigeria’s democracy.
@The Centre for Responsible Governance, Email: [email protected], Instagram: crgngo6, Twitter: crgng06, Threads: crgngo6
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IWD 2026: Ajadi Celebrates Women, Urges Them To Seek More Elective Positions In Future Elections
IWD 2026: Ajadi Celebrates Women, Urges Them To Seek More Elective Positions In Future Elections
A Leading People’s Democratic Party, (PDP) Governorship Aspirant in Oyo State, Ambassador Olufemi Ajadi Oguntoyinbo has felicitates with women in the country on the occasion of this year’s International Women’s Day.
The international Women’s Day is celebrated on 8 March, commemorating women’s fight for equality and liberation along with the women right’s movement. It gives focus to issues such as gender equality and reproductive rights. International Women’s Day originated from labour movements in Europe and North America during the early 20th century.
In a statement issued on Sunday to commemorate this year’s edition of the International Women’s Day, Ajadi said the role of the women in nation building cannot be over emphasised.
He recalled the role played by prominent Nigerian women like Mrs Funmilayo Ransome- Kuti, Margaret Ekpo and Wuraola Esan towards the liberalization and the growth of the country and urges women to follow their footsteps by not only participate in the political process but seek more elective positions.
He urges the political leaders to encourage and give more chances to women for them to contest and occupy elective positions in the country.
Ajadi also called for more respect for women, saying they are definitely behind whatever success recorded by the menfolk.
He said domestic violence against women should be stopped, saying they deserves respect for their role in moulding the future leaders.
According to the statement, “I celebrate and congratulate our women on this year’s occasion of International Women’s Day. We cannot underestimate the role played by our women both at home, in the social circle and in politics. They deserve more respect.
“I equally called on them not only to be a passive participants in politics but to determine to seek more elected positions in future elections. They should aspire more from the position of dancing and singing at campaigns to seek more elective positions. The ratio of men to women in elective positions in the country is embarrassing. Women should stand up and fight for more elective positions.
“I also use the occasion of this year’s Women’s Day to appeal to Nigerians to stop domestic violence against the women. If we treat our women well, our country will witness unprecedented developments”.
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International Women’s Day 2026: Adron Homes Champions Women’s Leadership and Inclusive Growth
International Women’s Day 2026: Adron Homes Champions Women’s Leadership and Inclusive Growth
As the world marks International Women’s Day 2026, Adron Homes and Properties has reaffirmed its commitment to empowering women with meaningful opportunities to serve, lead, and shape the future of Nigeria’s real estate landscape.
Observed globally on March 8, this year’s theme, “Give To Gain,” calls for intentional investment in women through access to resources, education, mentorship, and leadership platforms. The message is clear: when women are empowered, organizations prosper, communities flourish, and nations grow stronger.
In line with this vision, Adron Homes highlighted its people-first culture, which promotes gender inclusion at all operational levels. From executive management and regional administration to marketing leadership, client experience, and field operations, women continue to play strategic roles in driving the company’s growth and service excellence.
According to the company, creating pathways for women to lead is not just a policy direction but a proven strategy that fuels innovation, strengthens decision-making, and deepens stakeholder trust.
Adron Homes also highlighted its internal capacity-building initiatives designed to equip female professionals with the skills and confidence needed for greater responsibility. Through structured mentorship, leadership exposure, and performance-based advancement systems, the organization continues to raise a new generation of women leaders within the property sector.
Delivering a message to commemorate the day, the Executive Vice Chairman, Olori Aderonke Emmanuelking, emphasized the company’s enduring commitment to inclusive progress:
“The theme ‘Give To Gain’ speaks to a principle we strongly believe in at Adron Homes, empowering women is an investment with lasting returns. When women are supported to lead and succeed, the impact goes beyond the workplace; it transforms families, industries, and society at large. We remain committed to building systems that help women rise and thrive.”
The company noted that its celebration of International Women’s Day reflects a broader mission, developing not only thriving residential communities but also a workplace culture where talent is recognized without bias and leadership opportunities are accessible to all.
As Adron Homes continues its expansion drive, it remains steadfast in fostering an environment where women are encouraged to contribute meaningfully, lead confidently, and grow sustainably.
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