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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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TYO National Competition Concludes with Exceptional Display of Oratory and Critical Thinking
The TYO 2026 National Competition concluded with an impressive showcase of oratory, critical thinking, and a compelling demonstration of the skills developed by participants during a four-day intensive boot camp. The programme commenced on Monday, April 27, with semifinals held on April 29 and the finals on April 30, 2026.
The final event was marked by an emotional moment as the winner was announced to an enthusiastic reception from the audience. Participants were evaluated on key competencies including reasoning, content, structure, audibility, and audience engagement. The competition stood as a clear demonstration of what can be achieved when young minds are given the opportunity and space for intentional development.
TYO is a communications platform and an expression of the Peat Philips Foundation, committed to instilling leadership, communication, and public speaking skills in young people. The initiative focuses on building strong character and empowering participants to embody the change they seek, not only through words but through aligned actions.
The boot camp incorporated multiple dimensions of learning, including structure, intent, goal-setting, character development, reasoning and effective audience engagement. These components provided participants with the opportunity to refine their speaking abilities while unlearning habits that no longer serve their growth. The experience also fostered peer learning, as participants engaged closely with other qualified individuals within the programme.
Beyond the competition, TYO serves as a broader platform dedicated to developing young people into confident communicators and ambassadors of their communities and country. The competition itself is one of several initiatives aimed at preparing a Nigerian representative for the International Public Speaking Competition scheduled to take place in the United Kingdom in July this year.
Looking ahead, preparations are already underway for the 2027 edition of the TYO Boot Camp. The organisers express hope for continued and increased support from sponsors and partners to sustain and expand the programme. This support is essential to reaching more young people and strengthening a critical area of development, not only for Nigeria but for the African continent at large.
For partnership and sponsorship inquiries, interested parties are encouraged to connect with the organisers to support the mission of raising a generation equipped to serve and lead effectively. Contact: 08071825959, [email protected].
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Ajadi Visits Ilaji Resort, Commends Sanusi’s Vision for Oyo’s Economic Growth
Ajadi Visits Ilaji Resort, Commends Sanusi’s Vision for Oyo’s Economic Growth
The leading gubernatorial aspirant in Oyo State under the Peoples Democratic Party (PDP), Olufemi Ajadi Oguntoyinbo, has lauded the transformative impact of private-sector investment on the state’s economy, following a courtesy visit to Ilaji Hotels and Sports Resort in Akanran, Ibadan.
Ajadi, who was warmly received on Sunday by the resort’s founder, Chief Dr Dotun Sanusi, described the facility as a symbol of what visionary leadership and indigenous enterprise can achieve in driving rural development, job creation, and tourism growth.
Speaking during the visit, Ajadi commended Sanusi’s commitment to Oyo State’s economic advancement, noting that Ilaji Resort stands as a model for sustainable development outside urban centres.
“What I have seen here today is not just a business venture, but a bold statement of belief in Oyo State’s potential,” Ajadi said. “Chief Sanusi has demonstrated that with vision, dedication, and strategic investment, we can transform our rural communities into thriving economic hubs. This aligns perfectly with my agenda to expand opportunities, empower our people, and sustain development across the state.”
[4/13, 6:34 PM] johnsonakinpelu: The PDP gubernatorial aspirant emphasised that his governorship ambition is rooted in supporting initiatives that promote local enterprise, tourism, and youth employment, adding that partnerships between government and private investors would be a priority if elected.
In his remarks, Sanusi, popularly known as Ilaji, expressed delight at hosting Ajadi and his entourage, describing the visit as encouraging for investors in the state.
“I am honoured to receive Ambassador Ajadi here at Ilaji Resort,” Sanusi said. “This project was born out of a desire to give back to society, create jobs for our youths, and showcase the rich cultural and tourism potential of Oyo State. When leaders recognise and support such efforts, it strengthens our resolve to do more.”
Sanusi further stressed the importance of continuity in governance and policies that encourage investment, noting that consistent support from government actors is crucial for long-term economic growth.
The visit also attracted notable political stakeholders, including the former Ona-Ara Local Government Chairman, Hon. Taiwo Oke, Hon. Bass Oloko, and Ajadi’s personal assistant, Kilamuwaye Badmus, among others.
Observers at the event described the meeting as a convergence of political leadership and entrepreneurial vision, highlighting the growing importance of collaboration in addressing developmental challenges in Oyo State.
Analysts see Ajadi’s visit to Ilaji Resort as part of his broader engagement with key stakeholders across sectors, as he continues to build momentum ahead of the 2027 governorship race.
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FOPCHEN Calls for Dialogue as Court Fixes May 28 for Continuation
FOPCHEN Calls for Dialogue as Court Fixes May 28 for Continuation
OTA, OGUN STATE — Proceedings in a widely followed legal case resumed on March 24, 2026, at the High Court of Ogun State, Ota Division, ending with a fresh adjournment as the court fixed May 28, 2026, for continuation.
During the session, legal representatives for all parties restated their positions and addressed preliminary matters, laying the groundwork for more substantive arguments at the next hearing. Observers noted that the case continues to attract significant public attention due to its perceived implications for law, culture, and societal values.
The Foundation for the Protection of Cultural Heritage in Nigeria (FOPCHEN) used the occasion to reiterate its call for constructive national dialogue. The group emphasized that while the judicial process must be respected, broader societal engagement remains essential.
According to the organization, issues relating to values, responsibility, and cultural identity should not be confined solely to courtroom deliberations but should involve active participation from various sectors of society.
Legal analysts present at the proceedings described the matter as one with far-reaching implications, noting that arguments advanced in court could shape future interpretations surrounding sensitive cultural and moral questions.
The presiding judge subsequently adjourned the case to May 28, granting all parties time to refine their submissions and respond to issues raised during the hearing.
As anticipation builds ahead of the next court date, Nigerians across different sectors continue to monitor developments closely, keen to see how the judiciary navigates the delicate balance between constitutional rights and cultural expectations.
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