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Economy: Dangote Petrochemical Plant to Position Nigeria as Polypropylene Hub in Africa

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Dangote Refinery Receives Its Maiden Crude Cargo

Economy: Dangote Petrochemical Plant to Position Nigeria as Polypropylene Hub in Africa

By Olorunfemi Adejuyigbe

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Economy: Dangote Petrochemical Plant to Position Nigeria as Polypropylene Hub in Africa

 

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The Dangote’s $2 billion Petrochemical Plant located in Lagos when fully operational will position Nigeria as one of Africa’s largest petrochemicals hubs and boost non-oil export earnings for the country, according to the Dangote Group President, Aliko Dangote.

 

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The 900,000 metric tons per annum capacity Plant, which is being built alongside the 650,000 barrels per day Dangote Petroleum Refinery will produce polypropylene strategically positioned to cater to the demands of the growing plastic processing downstream industries not only in Africa but also in other parts of the world.

 

 

 

 

 

Dangote who made this disclosure at 2022 Zenith Bank International Trade Seminar on Non-oil Export recently in Lagos, said the refinery and petrochemical projects will ensure petroleum products sufficiency and security for Nigeria.

 

He emphasized the need for government to unlock the potential of petrochemical export by completing the OB3 pipeline to make gas available to manufacturers. “There is need to prioritize financing gas infrastructure, gas allocation to the domestic market and adjustment of fiscal framework to make supply of gas to domestic market attractive for oil companies,” he added.

 

 

 

 

 

 

Dangote disclosed that the refinery reputed to be the largest single train greenfield petroleum refinery in the world is at an advanced stage of completion, and that on completion, it is expected to export much more than 8 million tons of Petroleum products annually after meeting domestic consumption, while about 900,000 tons of polypropylene is also expected from the petrochemical plant.

 

The business mogul revealed that the recently commissioned 3m mtpa Fertilizer Plant has “commenced export to India, North America and Latin America. At steady state, will export two million tons per annum after meeting domestic consumption.”

 

 

 

 

 

He explained that the Dangote Fertiliser regarded as the second largest urea fertilizer plant in the world is leveraging Nigeria’s abundant gas reserves as raw material for the production of Urea.

 

Stressing on the need for Nigeria to encourage non-oil export, Dangote said that Nigeria’s non-oil export is quite low compared to other African top oil producers. “This exposes the economy to oil price and production risks. Export opportunities abound in Nigeria but there are two main routes import substitution and export-oriented industries. Import substitution is ideal for economies like Nigeria which has a large domestic market and a huge import bill”, he added.

 

 

 

 

 

 

 

 

 

Dangote said that investors can build industries, which initially target the domestic market, then subsequently target export markets as they build scale and competitiveness.

 

He then urged the Federal Government to build on the country’s competitive advantage to develop industries that are primarily geared toward export. “Nigeria LNG Limited (NLNG) in Bonny is a good example of an export-oriented investment (though would be good to get a model where such revenues are sold in I&E window”, adding that some countries have gone a step further to create special economic zones to achieve this objective.

 

 

 

 

 

 

 

 

 

 

In his goodwill message, Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele described the theme of the seminar “Unlocking Opportunities in Nigeria’s Non-Oil Export Business” as timely and appropriate.

 

The CBN Chief reasoned that the theme was apt because “the global economy and structure are changing rapidly before our eyes. The previous world economic order underpinned by globalization and seamless trade possibilities seems to be suffering major disruptions lately. We believe Nigeria has a lot of potentials, and we can harness this for the good of our people and country.”

 

 

 

 

 

 

 

 

He pointed out that the CBN had undertaken several initiatives to promote the non-oil export sector because of its firm belief that the non-oil export sector holds enormous potential to contribute to employment generation, wealth creation and economic growth of the country.

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Dana Airline: How Long Should We Pamper Death? …Why FG should completely ban Dana Airline from flights operations ~By Oluwaseun Fabiyi

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Dana Airline: How Long Should We Pamper Death? ...Why FG should completely ban Dana Airline from flights operations ~By Oluwaseun Fabiyi

Dana Airline: How Long Should We Pamper Death?
…Why FG should completely ban Dana Airline from flights operations
~By Oluwaseun Fabiyi

 

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Every means of transportation poses its own risk and hazards, however, some pose graver risk, especially when the right steps are not taken in the right direction. The fear and the attendant disaster that comes with air crashes are graver than one could imagine. This is why all must be adequately put in place, to avoid unnecessary distrust.

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Dana Airline: How Long Should We Pamper Death?
...Why FG should completely ban Dana Airline from flights operations
~By Oluwaseun Fabiyi

It is no longer news that Dana Airlines experienced yet another flight mishap recently, when one of its aircrafts; with registration number 5N BKI skidded off the runway, at the Murtala Muhammed International airport in Lagos, on Tuesday 23rd of April, 2024, after reportedly returning from Abuja that fateful morning. To say that, the incident was a serious safety concern and threat; that requires swift response, is to say the least.

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One must commend the Honourable Minister Of Aviation and Aerospace Development, for his promptness in grounding all Dana Air’s operations within the country. Such should be the alacrity of nations, who have zest and intelligence for the safety of her citizens.

Without much ado, Many Nigerians must have come to a point where they doubt the integrity and technological reliability of Dana Airlines. This is not farfetched from the lackadaisical attitude of the air operator, and certain antecedents that say no otherwise.

Let me take you just a little down the memory lane! Bethnews Media can still recall very vividly, how Dana Airlines wrecked a gruesome havoc on my neighbourhood some 13 years ago,when one of its aircrafts crashed, around Toyin/Balogun Iju-Road claiming the lives of One Hundred And Fifty-nine (159) persons and destroying several persons homes and means of livelihood.

On that fateful Sunday afternoon of June 3, 2012, at about 2:00pm. Publiser of BethNews Media, Oluwaseun Fabiyi had just returned from church, and because of the hot weather, I sat at the balcony after my meal, only to see an aircraft that swung across my rooftop, as if to perch on it. Gripped with fear, since we had never seen a plane flown so low in our area, we decided to follow up.

Myself and others understood that, all was not well the the aircraft that just past, especially seeing it with that very black fume, and preceded by a very scary screeching and deadly roar. Before we could say Jack Robinson, it happened, a Dana Airlines aircraft had just crashed! Everywhere around Toyin Balogun street, off Iju Ishaga road, was already in disarray. Everyone scampered for safety in the unfortunate community.

When an occurrence of this magnitude occurs, sometimes it is excusable to attribute it unforeseen hitch(es), however, such excuses are hardly tenable in airspace operations, since most of the flight activities are strictly monitored via utmost sophistication and near-perfect technical accuracy.

Few months after the Lagos state government had organised a mass burial for the victims of the unfortunate controversial Dana air mishap,the operator was suspended, and directed to show kind gestures to families and businesses affected.

Guess what! Dana Airlines is alleged to have refused, to show concerns, nor put any mechanism in place, to alleviate the sufferings of those who lost lives, properties and millions to the crash. Rather, they clamoured to resume operations.

Surprisingly but not strangely, Nigeria Civil Aviation Authority (NCAA) heeded Dana Airlines’ plea,to resume operations. Nigerians must understand and also remember that, the Dana air crash of 3rd June, 2012 remains the deadliest; after that of 1973,where 193 died in Kano.

Imagine what would have happened again, if the last incident resulted in a crash aground or mid air. God forbids, like we always say in Nigeria’s parlance! However, the reality is that, God wouldn’t forbid, if we leave what God has given us abilities to avert back to God. It doesn’t work that way!

As a matter of urgency, Dana Airline needs to be completely ban from flights operations, since crashes and air mishaps are becoming regular and normal occurrence in their services to Nigerians. We can’t continue to handle the safety of the populace with laxity and levity.

As far as I and many Nigerians are concerned,if the authorities involved continue to play politics, Dana Airline would continue to underestimate Nigerians for long, and the outside world wouldn’t take us seriously.

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Dana Airline’s Troubled History of Scandals and Safety Concerns

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Dana Airline’s Troubled History of Scandals and Safety Concerns

 

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In the turbulent skies of Nigeria’s aviation industry, Dana Airline has become synonymous with controversy and scandal. From regulatory violations to financial mismanagement, the airline’s history is marred by a litany of transgressions that have raised serious questions about its commitment to safety and integrity.

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One of the most alarming issues plaguing Dana Airline is the recurrent violation of flight crew duty regulations. Reports have surfaced indicating pilots flying over their allowed hours, raising concerns about fatigue and compromised safety standards. Such breaches not only endanger passengers but also erode trust in the airline’s operational integrity.

Financial misconduct further tarnishes Dana Airline’s reputation, with instances of fake telexes being sent to suppliers and staff to deceive them into making payments. In one egregious case, an engine was reclaimed by a lessor due to non-payment, only for Dana Airline to find the supplier bankrupt upon attempting to settle the freight costs. This pattern of defaulting on payments extends across all suppliers and includes the non-payment of staff salaries, painting a picture of financial instability and irresponsibility.

Safety is paramount in aviation, yet Dana Airline’s management has been accused of prioritizing profit over passenger welfare. Instances where the Managing Director overrules safety protocols set by management, coupled with weight and balance miscalculations due to cargo and excess baggage fraud, underscore a disturbing trend of negligence.

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Moreover, the airline’s questionable practices extend to its maintenance operations, where falsified records and quick fixes by Indonesian personnel have compromised safety standards. The turnover of directors in the maintenance department reflects the dire financial constraints preventing proper maintenance procedures.

The lack of proper financial management and qualified personnel exacerbates Dana Airline’s woes, with the Chief Financial Officer’s association with Dana Group, under scrutiny for financial fraud, raising further red flags. Suppliers coerced into lying about amounts due during audits and the circumvention of regulatory payments only add to the company’s litany of transgressions.

Despite previous groundings and regulatory scrutiny, Dana Airline has persistently managed to evade accountability, with reports of political influence being used to circumvent regulatory actions. However, a thorough financial audit, if conducted, would likely reveal the airline’s precarious financial position, potentially rendering it unfit to operate.

In conclusion, Dana Airline’s track record of scandals and safety breaches raises serious doubts about its commitment to passenger safety and regulatory compliance. Unless substantive changes are made to address the underlying issues plaguing the airline, its continued operation poses a significant risk to the flying public.

 

Dana Airline's Troubled History of Scandals and Safety Concerns

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Fidelity Bank Commends Air Peace’s Performance

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Fidelity Bank Commends Air Peace’s Performance

 

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Fidelity Bank Commends Air Peace’s Performance

. Celebrates Airline For The Commencement of the Lagos-London Route

LAGOS – Fidelity Bank Plc has commended Air Peace’s performance since it commenced flight operations about 10 years ago.

 

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Fidelity Bank Commends Air Peace’s Performance

Dr. Nneka Onyeali-Ikpe, the Managing Director, Fidelity Bank Plc gave the commendation over the weekend in Lagos during a special event organised for the airline by the bank to celebrate Air Peace for the milestone of commencement of direct flights from Lagos to London.

According to Nneka Onyeali-Ikpe, who doubled as the host at the event, the airline has upheld the principles of financial discipline and good corporate governance since inception, while it has also been very loyal to the bank.

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She expressed delight that the bank had the airline as one of its major clients since inception, stressing that the Bank was celebrating the airline’s milestone of launching direct flight service to London and other developments it would attain in the future.

The event, which held at the Civic Center, Victoria Island, Lagos, had in attendance several bank Managing Directors, stakeholders in the aviation sector, media personalities and well-wishers of both brands.

Speaking at the event, an elated Dr. Allen Onyema, the Chairman, Air Peace, observed that it was not rosy for the airline to attain its status and expressed gratitude to the flying public, the various aviation stakeholders, the media and the government for the continued support since it launched in 2014.

He specifically acknowledged the pivotal role played by Engr. Ben Adeyileka, the former Acting Director-General, Nigeria Civil Aviation Authority (NCAA), in helping the airline secure its Airline Operator Certificate (AOC).

He further commended Fidelity Bank for the consistent support and stressed that the bank had contributed to the success story of the airline.

“I call it our journey with Fidelity Bank. I did not envisage this day would come when an indigenous institution would be celebrating another indigenous institution. Fidelity supports real business. They keep removing people from the streets of poverty. Let other banks emulate Fidelity,” he said.

He reiterated that Air Peace was set up primarily to create employment, not for profitmaking, stressing that the motivation behind the business was to empower Nigerians economically.

“Air Peace was not borne out of the intent to profiteer, but to create jobs. Air Peace was not established because I wanted more money but because of the conviction that running an airline would create massive job opportunities. That was why we went into aviation”, he remarked.

He restated the airline’s belief in the Nigerian project, maintaining that supporting the airline meant supporting the growth of the Nigerian economy.

Onyema further craved for the support of all Nigerians on the Lagos-London route, which it opened on March 30, 2024.

He explained that the airline needed to sustain the route, stressing that this could only be done through support from Nigerians.

He said: “For every penny you pay to Air Peace, you pay to sustain the jobs of thousands of Nigerians and support economic growth.

“Air Peace flies you from any of our domestic routes to London. So, you can fly from Yola to London via Lagos. From the local airport, you are taken to the international airport free of charge with a seamless luggage transfer.”

He pledged that the airline would continue to fully adhere to the standard of safety and lauded the management and staff of Air Peace for their efforts in realising the London dream.

 

 

 

 

 

 

 

 

 

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