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Refinery: FG Will Source Forex from Dangote – CBN Gov

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DANGOTE SALT INTRODUCES THE DANGOTE SALT ART CHALLENGE 2021 – UNLEASH YOUR CREATIVITY

 

 

The Federal Government will soon start sourcing foreign exchange (forex) from Dangote Group, as soon as the latter’s refinery, petrochemicals and fertilizer projects come on stream.

This potential reversal of roles was disclosed by the Central Bank Governor, Mr. Godwin Emefiele, after he spent over four hours touring the ongoing Dangote Refinery, Petrochemicals, Fertilizer projects and Dangote deep-water jetty at the weekend.

Emefiele toured the project sites in the company of the President/CE of the Dangote Group, Aliko Dangote; Deputy Governor of the CBN, Aishah Ahmad; Group Managing Director, Dangote Industries Limited, Mr. Olakunle Alake; Group Executive Director of Dangote Industries, Mr. Devakumar Edwin; and the Managing Director of Guaranty Trust Bank, Mr. Segun Agbaje.

The CBN governor premised his comment on the huge forex earnings that are expected to accrue from the export of the petrochemical and fertilizer products from the Dangote refinery and fertilizer plants by the time the fertilizer plant begins operations in May this year, and the refinery takes off as planned in 2020.

Mr. Emefiele, who commended Aliko Dangote for the volume of work done on the Dangote projects since his last visit over two years ago, also enthused that the refinery and fertilizer projects would help Nigeria to create thousands of Jobs and check importation of fuel by the federal government; thereby saving government huge amounts of forex currently being spent on fuel import.

He added that about 55 to 60 per cent of Nigeria’s spending on foreign exchange for the importation of petroleum products and food items would be saved when the Dangote Refinery come on stream. Emefiele said one third of Nigeria’s spending on forex will also be retained when the Dangote Refinery is completed.

Emefiele described the Dangote Refinery as transformational project for Nigeria, which totally keys into the objectives of President Muhammadu Buhari on self-sufficiency in petroleum products, conservation of forex and diversification of the economy. “I am sure by that time, the CBN will be begging Dangote to sell its dollars to the bank,” he said.

He noted that the completion of the refinery would make Nigeria self-sufficient in the production of refined products and also make the country to be among the league of exporters of petroleum products.

Emefiele declared the CBN’s support to any company or individuals who are ready to invest in the transformation of the Nigeria economy. “We are ready to support in Naira and also ready to provide foreign exchange for any investor who is ready to support Nigeria’s transformational agenda.

“I use this opportunity to repeat that we are ready to support any individual like Aliko Dangote who is willing to invest in this country. We will continue to support companies that display the determination to support the CBN. I feel so delighted and I am happy this is happening in my own life-time and I am sure you are all so happy.”

Speaking also, President, Dangote Group, Aliko Dangote, said the project would definitely transform the Nigerian economy. “We have a couple of projects at hand and we will continue with these transformative projects. The biggest problem we have in Nigeria is that we currently import more than we produce like any other African countries. But, by the time we finish our fertilizer plant, Nigeria will be the largest exporter of fertilizer in Africa. We will also be the largest exporter of petrochemicals and the largest exporter of petroleum products in the whole of Africa. This is a major transformation.”

He said the 3billion Standard Cubic Feet gas pipeline and other Dangote Projects are geared towards Nigeria’s economic transformation.

Dangote commended CBN for its moral support to the refinery project. “There are lots going on in Nigeria. We want the CBN to support us like what it did in cement sector, which made Nigeria not only self-sufficient in the production of cement, but it became an exporter of the product. Today, Nigeria will not even import cement because we no longer have capacity for importation of cement,” he added.

In a presentation made to the CBN governor, Group Executive Director at Dangote Industries Limited, Devakumar Edwin, disclosed that the company’s target is for a significant portion of Nigeria’s crude oil production to be refined domestically, rather than imported, thereby creating jobs within Nigeria, and bringing a halt to the current importation of refined petroleum product.

Edwin said the refinery is going to provide over 100,000 indirect employment through retail outlets. He said the refinery is designed to meet Euro V grade, which is the highest standard in the world, hence products can be exported to any part of the world.

“It will be well diversified and able to process Nigerian crude, African crude and crude from other parts of the world. In terms of evacuation routes, two crude oil single point mooring (SPM) buoys and three multi-product SPMs will be located within the Atlantic Ocean to transfer crude oil to a calling tanker.

“The 2-Line Dangote Fertilizer Complex, consisting of Ammonia and Urea plants, is conceived to be one of the world’s largest fertilizer plants with a total capacity of 3 Million Tonnes per Annum of Urea fertilizer. Therefore, the Dangote Fertilizer is positioned to bridge the gap between local demand and national capacity. Dangote Fertilizer Plants will produce Urea that will assist farmers boost their crop yields through easy access to fertilizer,” he added.

 

 

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Celebrating The Women Behind The Music : The Members Of Elite Women Musicians Club Of Lagos

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Celebrating The Women Behind The Music : The Members Of Elite Women Musicians Club Of Lagos

In the pulsating heart of Lagos, the Elite Women Musicians Club of Lagos

stands as a beacon of unity and empowerment for female artists. This dynamic association, renowned for its diversity in musical genres, prides itself on bringing together talented women from all walks of musical life. Today, we celebrate its esteemed members, who number twenty-nine strong, each contributing uniquely to the vibrant tapestry of the Club.

 

Leading The Charge :

At the forefront of the Elite Women Musicians Club of Lagos Club is Alhaja Queen Isimot Abake Abiola PQ1st (Omo Opeki), the President. Her leadership is a source of inspiration for many, guiding the Club with a vision of inclusivity and excellence. Supporting her is Alhaja Queen Halimot Ayinla Omowura, the Vice President, whose dedication ensures the smooth operation and growth of the association.

 

Alhaja Badirat Adunni Olaniyan (Just Like That) serves as the Treasurer, managing the financial health of the Club with precision. The Social Secretary, Alhaja Aminat Babalola Balogun (Omotayebi, Iya Kekere Eko), brings vibrancy and connectivity, fostering a sense of community among the members. Asiwaju Yeye Tosin Eniba (Fuji Queen), the Secretary, ensures that the administrative duties are handled efficiently, supporting the organizational backbone of the Club.

Valued Members :

The Club’s strength lies in its diverse membership, each woman a luminary in her own right. The following are the distinguished members of the Elite Women Musicians Club of Lagos :

– Afonja Gbajoba

– Bisi Ewa Ogo Jesu

– Alhaja Jelilat Dupytie

– Ejire Akewi Oba

– Alhaja Aminat Itojuobi

– Alh. Fatimo Oseni Salawa Onigbongbo

– Alh. Tawakalitu Alagbada Tokotaya to nko Fuji

– Aishat Irepo Obi

– Olaleye Rahemot Arike (Akomolesin Agbaye)

– Alh. Dasola Abeke

– Ewebiyi Iya Oriki

– Ameerat Oninure

– Alh. Azeezat Otibiya

– Alh. Rukayat Bashirimi

– Alh. Mujidat Damilola

– Alh. Fatima Aljafaria, an Elder whose wisdom and experience enrich the Club.

– Alh. Taibat Omo Tayenfe

– Queen Muheenat Ijaodola

– Sakirat Yeye Oge

– Alh. Mariam Akiki Akanbi

– Queen Abebi Ayala

– Aweni Adepeju (Aweni Fuji)

– Fatimo Ajoke Cinderella

– Alh. Hafsat Sideeq, another Elder whose guidance is deeply valued.

 

A Legacy of Excellence :

The Elite Women Musicians Club of Lagos is more than just an association; it is a legacy of excellence, a network of powerful voices that harmonize to uplift and inspire. Each member, from the executives to the distinguished members, plays a crucial role in shaping the cultural and musical landscape of Lagos and beyond. Their combined efforts create a symphony of collaboration and mutual support, ensuring that the future of female musicians in Nigeria remains bright and promising.

 

As we celebrate these remarkable women, we also look forward to the new heights the Club will achieve under their leadership and unity. Their commitment to their craft and each other stands as a testament to the incredible power of music and the unwavering strength of women.

Celebrating The Women Behind The Music : The Members Of Elite Women Musicians Club Of Lagos

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Sustain Tempo of High Revenue With Compliance, CGC Tells Comptroller Olomu

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Sustain Tempo of High Revenue With Compliance, CGC Tells Comptroller Olomu
… As Apapa Command Honours Outstanding Stakeholders

By Ifeoma Ikem

Comptroller General of Customs, Bashir Adewale Adeniyi, MFR has commended the Area Controller of Apapa Port Command, Comptroller Babatunde Olomu, fsi for the command’s outstanding revenue collection of over N2.2tr and urged him to sustain the tempo.

CGC said this in Apapa on Friday at the command’s end of the year party and award ceremony also harped on the need for compliance and synergies as necessary strategies to greater productivity at the port. According to him, compliance is a competitive advantage.

He was represented by Deputy Comptroller General Caroline Niagwan, DCG Tariff and Trade, Adeniyi congratulated the Customs Area Controller and all the officers and men of Apapa Area Command for the milestone achieved in revenue collection to the tune of N2.2tr and still counting which has earned the command multiple accolades

“It is with immense pleasure that I stand before you today to celebrate a shared commitment to compliance and excellence in trade. This award ceremony is a testament to your dedication to ethical business practices, adherence to regulations, and unwavering support for the principles that drive Nigeria’s economic growth.

“Compliance is not merely a requirement; it is a competitive advantage. It fosters transparency, reduces operational risks, and strengthens the trust between businesses and regulatory authorities. It also positions compliant stakeholders to enjoy streamlined processes, faster clearance times, and access to the numerous benefits that come with being recognized as trusted trade partners.

“As a Service, we understand that sustaining compliance can sometimes require capacity building, especially as global trade evolves.

To this end, the Service is committed to providing the necessary training, technical assistance, and partnerships that will empower you with the knowledge and tools to maintain this high standard.

“Our goal is to ensure that every stakeholder remains competitive,vinnovative, and aligned with global best practices.
By working together, we can unlock even greater opportunities for growth. Compliant stakeholders not only contribute to national revenue but also drive economic development, attract foreign investments, and enhance Nigeria’s position in international trade” Adeniyi said

In his welcome speech, Comptroller Olomu expressed appreciation to the CGC and the customs management team for always providing the direction and inspiration to the command in it’s drive to meet government’s expectations .

He described the end of year party as many things rolled up in one as it strengthens the stakeholders bond as a community of government and private sector collaborators working together for the betterment of Nigeria;

it’s also to celebrate together as the year 2024 ends and honour those whose outstanding performances contributed in shaping the command’s achievements in 2024.

Comptroller Olomu said despite the challenges of low trade volume, the command is able to achieve it’s target which is a reflection of officers commitment and dedication to duty

He added that in line with the policy thrust of the CGC, the command utilised it’s relationship with stakeholders to achieve it’s goal this year.

According to him improving on stakeholder engagement has become an operational template the Comptroller General of Customs has impressed on the officers and expressed joy to announce that it has proven to be a masterstroke towards enhanced compliance.

Comptroller Olomu said “Compliance is no doubt the bedrock of all customs achievements in areas of revenue collection, anti smuggling and legitimate trade facilitation. Our approach to regurlarly engage our sister government agencies has raised our degree of intelligence sharing towards a common national interest.

“Let me use this period to thank the NPA, DSS, NDLEA, NAQS,Port Health, Police, Immigration and other sister government agencies for their consistent collaboration in 2024. They are indeed an integral part of the command’s success story in 2024. I urge them to stay on board let’s do it again in 2025.

“With our port users, we maintained regularly enlightenment meetings, faster trade dispute resolution mechanism and consistent appraisal of feedbacks to keep improving on our responsibilities.

“There have been positive fallouts of our regular interface with our stakeholders. This is evident in our collection of N2..2tr revenue and still counting, zeroing in on the minority that attempt smuggling by curbing their activities with seizures. We are fostering inclusivity and this will continue in 2025

“We have ensured no container , import or export consignment goes through our control without due diligence of proper examination. This has been the foundation of our impeccable enforcement drive.

“We are honouring some of our officers and stakeholders for their outstanding performances in the year 2024 . I want to urge the awardees to see this as a call for more commitment to surpass their best outputs. There is no end to improvement

“This should also be a challenge to those who didn’t make the award list this time, I urge them to keep improving with a promise that their inputs shall not go unnoticed for due recognition” he concluded

Among those recognised with various awards are APM Terminals, Sifax Group, ENL Consortium, Dangote, Talod Ocean Airfreight and Princess Chi Ezeh the CEO of Munah Sylva Nigeria Limited

The command also recognised serving and retired officers for their contributions to it’s overall successes in 2024.

Sustain Tempo of High Revenue With Compliance, CGC Tells Comptroller Olomu
... As Apapa Command Honours Outstanding Stakeholders

By Ifeoma Ikem

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Bullion Records; GyC Release Debut EP Album, A Billion Things

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Bullion Records; GyC Release Debut EP Album, A Billion Things By Ibrahim Kegbegbe

Bullion Records; GyC Release Debut EP Album, A Billion Things

By Ibrahim Kegbegbe

 

Bullion Records, one of Nigeria’s fastest-growing record labels, has officially released its highly anticipated debut EP album, A Billion Things, sung by its sensational artist, GyC. Born Fortune Kingsley, GyC is making waves in the Nigerian music industry, and this five-track EP marks a significant milestone in his career and the label’s history.

The EP, which dropped today, Wednesday, December 12, 2024, features an eclectic mix of tracks, including Mailo, Shayo, Woman, Kpang Kpang, and Kokan Aye. The standout track, Kokan Aye, features collaborations with Nigerian music icons 9ice and Eedris Abdul Kareem, further solidifying GyC’s place in the music scene.

Speaking about the project, Ambassador Olufemi Ajadi Oguntoyinbo, Chairman and CEO of Bullion Records, described the album as a blend of inspiration and artistry. “Every track in this album is not only a masterpiece but also delivers profound messages. From love to resilience, and from societal consciousness to celebration, A Billion Things resonates with listeners on different levels,” he said.

The production team behind the album includes some of Nigeria’s most talented producers. YoungSmith worked on the hits Shayo, Woman, and Mailo, while Philkeyz produced the electrifying Kpang Kpang. Shockerbeat added his signature touch to Kokan Aye, ensuring the album delivers a diverse yet cohesive sound.

Mr. Elegbede Ajibola, the entertainment director at Bullion Records, emphasized the label’s strategic timing for the album’s release. “We deliberately chose December to launch this EP because it’s a season when people connect through music. We want fans and good music lovers worldwide to vibe to these amazing tracks during the festive period,” Elegbede noted.

GyC, the star of the moment, expressed his gratitude to the team behind the album’s success. “This project is the result of collective effort and dedication. I want to thank the executive members of Bullion Records for their unwavering support. Special appreciation also goes to the incredible music producers who brought my vision to life,” he said.

The release of A Billion Things marks a bold statement from Bullion Records as it cements its position in the Nigerian music industry. With a lineup of motivational, soulful, and dance-worthy tracks, the EP is expected to become a favorite among music lovers globally.

Fans can now stream or purchase the album on all major music platforms.

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