News
The ‘Foolish Man’ and His Mega Refinery Complex.
Bayo Onanuga
Some years ago, Aliko Dangote, Africa’s richest man invited media leaders to a luncheon at then Protea Hotel in Ikeja to mark his 55th birthday.
Some of his guests sat around him at the centre table. They chatted freely. Discussions about our country, the state of the economy soon veered into discussing the absurdity of our country, being a major crude exporter, and also a major importer of refined petroleum products. Our colleague from a major business paper said the local conditions were unfavourable to any investor who wanted to build a refinery. He then made a remark that I believe he would live to regret: “Only a foolish man will build a refinery in Nigeria”.
Aliko who had listened to all our business and political pontifications, interjected: “I am that foolish man”. A pin drop silence enveloped the table as he dropped the unexpected news: “My company has just decided to build a refinery in the country. But we are doing it big”. Those were his exact words, as the multi-dollar billionaire told us he was willing to spend close to $9 billion on the project.
The media big man became speechless. The rest of us caught the contagion of being flummoxed as well, as Aliko expatiated on the project. He said it will be a petrochemical complex. As the project was still on the drawing board, he did not tell us it will be the biggest refinery in the world, capable of processing 650,000 barrels of crude. All the hint he gave was that it will be ‘big’. Our takeaway was that it will be big like Aliko’s involvement in cement, sugar, pasta and other businesses.
He didn’t say it will include a fertiliser plant and a power plant that can supply enough electricity to Nigeria’s South West, excluding Lagos.
Initially billed for Ogun State, the Dangote Petroleum Refinery surprisingly shifted location to Lagos, just opposite the creek separating the two states. Governor Dapo Abiodun may want to probe his predecessor, Ibikunle Amosun, why he allowed the complex to move to neighbouring Lagos.
The gigantic project is now sitting in all majesty in the Lekki Free Trade Zone in Ibeju-Lekki, covering a land area of approximately 2,635 hectares, seven times the size of Victoria Island.
The complex is the world’s Largest Single-Train 650,000 barrels per day Petroleum Refinery with 900 KTPA Polypropylene Plant.
It comes with a 435 MW Power Plant, which will be able to meet the total power requirement of Ibadan DisCo of 860,316 MWh covering five States including Oyo, Ogun, Osun, Kwara and Ekiti.
The refinery, according to its fact sheet, can meet 100% of the Nigerian requirement of all refined products, including Gasoline,Diesel, Kerosene, and Aviation Jet.
It will also be able to produce surplus of each of these products for export.
Designed for 100% Nigerian Crude, the refinery has flexibility to process other crudes. No wonder it is located near the sea shore.
Today President Muhammadu Buhari commissioned the gigantic petrochemical complex.
Just as we rejoice with Aliko Dangote and the Dangote Group family, we need to give kudos to the Buhari administration for ensuring that the complex comes to fruition, by ensuring that it was not starved of needed foreign exchange and taking a stake in it.
For Aliko, all is well that ends well. The complex will bring to an end our country’s many decades of shame, for being unable to refine its crude and having to depend on importation, wasting scarce forex.
The ‘foolish man’ of 11 years ago has demonstrated once again that he is a man of wisdom, a peerless shrewd investor who sees clearly the ‘bigger picture’, when his compatriots are bogged down by parochialism and immediate monetary gains.
By Favour Bibaikefie
The Independent National Electoral Commission (INEC) has officially debunked claims spreading across social media platforms that its Chairman, Prof. Mahmood Yakubu, has been dismissed by President Bola Tinubu. A widely circulated message on WhatsApp falsely alleged that Prof. Yakubu had been replaced by Prof. Bashiru Olamilekan.
Reacting to the rumors in a statement to Vanguard, the Chief Press Secretary to the INEC Chairman, Mr. Rotimi Oyekanmi, firmly denied the claims. “Please, disregard. It is not true,” he stated.
Prof. Yakubu, currently serving the final months of his second term, is expected to step down later this year. The procedure for selecting a new chairman involves several stages: the President nominates a candidate, who is then profiled by the Department of State Services (DSS). The nominee must then be reviewed by the National Council of State before the name is submitted to the Senate for confirmation.
At this time, no official declaration has been made regarding any successor to Prof. Yakubu.
News
She Defied all Roadblocks: Prof. Jimoh Slams Security Clampdown on Senator Natasha’s Homecoming
By Favour Bibaikefie
Lagos, Nigeria – A senior academic has strongly criticized the heavy-handed security measures that paralyzed an entire senatorial district in Kogi Central during Senator Natasha Akpoti-Uduaghan’s recent homecoming.
Speaking during an interview with Channels Television, Prof. Jide Jimoh, Dean of the Faculty of Communication and Media Studies at Lagos State University (LASU), condemned the security clampdown, which saw major roads across the area barricaded by operatives in what appeared to be an attempt to prevent Senator Akpoti-Uduaghan’s visit.
“How can you shut down literally a whole local government senatorial district just because somebody is trying to visit?” Prof. Jimoh questioned, expressing concern about the implications of the action for democratic engagement in the region.
Despite the heightened security and road closures, Senator Akpoti-Uduaghan outmaneuvered the obstruction by arriving via helicopter — a move that took both her supporters and opponents by surprise.
Prof. Jimoh commended the senator’s tactical ingenuity. “In terms of strategic planning, she was ahead of her adversaries,” he said. “I never expected that she would come in on a helicopter, having seen that the whole roads leading to where she was supposed to go had been barricaded by security agencies. In terms of strategy, she was quite ahead of her adversaries.”
The LASU dean emphasized that the incident raises significant concerns about political freedom and the state of democracy in Kogi State. He described Senator Akpoti-Uduaghan’s bold decision as a powerful statement against forces attempting to suppress her political outreach and reaffirmed the need for fairness in political processes.
Senator Akpoti-Uduaghan’s helicopter arrival not only circumvented the blockade but also reignited public discourse on the misuse of state security resources and the importance of safeguarding democratic rights.
News
Peretengboro Blasts Lokpobiri Over Rivers Crisis Remarks, Accuses Him of Siding with His Stomach and Insulting Ijaw Nation Further
By Divine Perezide
Warri, Nigeria — April 5, 2025: Prominent Ijaw Youth Leader and CEO of IduwiniVoice, Prince (Dr.) Peretengboro KlintinBibaikefie, has condemned the recent comments made by the Ijaw Youth Council (IYC) National President, Jonathan Lokpobiri, over the political crisis in Rivers State, describing his remarks as “reckless, disappointing, and a betrayal of Ijaw interests.”
In a statement released to press men in Warri, Dr. Peretengboro accused Lokpobiri of unfairly and shamefully blaming the Ijaw people for the state of emergency declared in Rivers State, while carefully avoiding any criticism of the Federal Capital Territory (FCT) Minister, Nyesom Wike, who is clearly the center of the crisis.
“Jonathan Lokpobiri is towing the same shameful path with the very weak President Bola Tinubu who either has zero knowledge of the mind games Wike’s camp has played throughout the said crisis or is the real orchestra of the entire imbroglio — exonerating Wike in the face of glaring complicity, just to protect his brother, the Minister of State for Petroleum,” Peretengboro said. “If his role as an Ijaw leader conflicts with his stomach, then he should do the honourable thing and resign. Better still, keep quiet, and allow the spokesman to speak for Ijaw people. But no, he needed to show to Wike on who’s side he stands”
The video of Lokpobiri’s controversial remarks, which has gone viral across social media platforms, shows him lambasting the Ijaw people over the situation in Rivers State. However, the IYC President made no mention of Wike’s role in the political instability and carefully crafted plot by Wike and Tinubu to remove Gov. Fubara, using the emergency declaration — a silence that has drawn sharp criticism from several Ijaw stakeholders.
Peretengboro insisted that Lokpobiri should have allowed the IYC National Spokesman to address such sensitive matters on behalf of the Council rather than acting in a way that undermines the unity and dignity of the Ijaw nation, even in the glirring face of suppression by someone from a lesser minority.
“The speech was infamous and unrepresentative of the true position of Ijaw youths. All well-meaning Ijaws must rise up and condemn this disgraceful display by Lokpobiri,” he said.
He further called on the Ijaw National Congress (INC) to urgently summon Lokpobiri and call him to order, stating that his actions threaten to erode the credibility of the IYC and diminish its capacity to defend Ijaw interests.
“We all understand the dicy fix, Mr. Jonathan finds himself in this whole situation. He has been very passive since the beginning of the crisis in Rivers State because of that, but the IYC is not a personal platform. It is a collective voice of all Ijaw people with a history of struggle. Lokpobiri has failed in his leadership by letting his stomach control his brain instead of letting the IYC do its job, and the INC must act swiftly,” he concluded.
The IduwiniVoice, which also monitored the viral video, reports that discontent is growing among Ijaw communities, with many demanding a retraction of Lokpobiri’s statement and a formal apology to the Ijaw nation, and others demanding outright impeachment of the IYC President.