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Dangote’s Lekki Refinery Largest Undertaking In Nigeria, Says Osinbajo

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Osinbajo-Ministers-Ambode-DangoteThe multi-billion dollar Dangote Refinery and Petrochemicals project in Ibeju-Lekki, Lagos State, has been described by Vice President Yemi Osinbajo (SAN) as an incredible industrial undertaking.

The vice president made this known during a tour of the massive project site in company of Ministers Of Power, Works and Housing, Babatunde Fashola; Solid Minerals, Dr. Kayode Fayemi; Finance, Mrs. Kemi Adeosun and Industry, Investment and Trade, Okechukwu Enelamah,

Prof. Osinbajo, who described the projects as ambitious, noted that the gas pipeline on completion will do about three billion standard cubic feet per day.

He also noted that the subsea gas pipeline was a strategic and very important aspect of the project and will run from Bonny through Ogedegbe-Olokola in Ogun State to Lekki.

SEE ALSO: Dangote Building Oil Refinery In Lagos (Video)

He said: “Dangote Refinery is the largest undertaking in Nigeria, which is meant to refine 650,000 barrels of oil per day. By all projections, it is the largest in the world.

“The refinery will start producing in the first quarter of 2019. I think the subsea pipeline is expected to take off in 2018. It is a very important aspect of the project.

“It will boost our power supply tremendously. Certainly, for me, that is one of the most important projects that could be done in this country. It will be a major boost for industries”.

Osinbajo-Dangote

Asked how the government intends to secure the pipelines from vandals, Vice President Osinbajo assured that they will be fortified because they will be laid deep in the seas.

“It is not the type of pipeline anybody can go to and vandalise because of the way it has been devised”, he responded.

President of the Dangote Group, Alhaji Aliko Dangote, said an estimated $17 billion was required to complete the Refinery, Fertiliser and Petrochemicals plants in Ibeju-Lekki.

In an interactive session with journalists after the visit of the vice president, Mr. Dangote gave a breakdown of the cost of the individual components of the projects as follows: $12billion for the refinery, $2billion for the fertiliser plant while $3billion will go into laying the subsea pipeline.

The billionaire entrepreneur, who stated that $100 million was paid the Lagos State Government for the site measuring over 3000 hectares of land, added that they have spent $420million to sand fill the swampy areas.

Osinbajo-Ambode-Dangote

He, however, denied allegations of disagreement with the host communities, insisting that well thought out Corporate Social Responsibility (CSR) projects have been factored into the refinery.

Dangote also denied speculation in some quarters that he received Foreign Exchange (FOREX) from the Central Bank of Nigeria (CBN), explaining that the conglomerate only got $173 million from the apex bank, which interest-on loan was taken by Dangote Industries, a holding company for the financing of the refinery.

He also disclosed upon completion, the gas plant will generate 12,000 Mega Watts of electricity, more than what the nation requires, adding that the excess will be exported to neighbouring countries.

On the benefits of the projects to the economy, Dangote said it would increase Forex earnings, reduce importation, create jobs and also reduce the price of petrol, among others.

In his remarks earlier, Governor Akinwunmi Ambode of Lagos, who was part of the vice president’s entourage, noted that the Dangote Group’s decision to embark on four significant projects will have great multiplier effects on growth and economy of Nigeria.

Ambode said: “What this tells us is that Lagos is on an expansive growth both on the east and west sides of Lagos.

“There is nothing we can do as a government than to commend Alhaji AlikoDangote and thoroughly support him”.

It was learnt that the petrochemical project is expected to come on stream by December 2017, the refinery in first quarter of 2019 while the gas project will come on stream by 2018.

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  1. ARVIND BARIDE

    January 13, 2017 at 10:49 am

    WE ARE MANDATE OF STORAGE TANK IN ROTTERDAM
    TO GIVE ON RENT
    IF INTRESTED PLEASE CONTACT

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Metro News

BREAKING: Police Arrest Suspects As Explosion Rocks Wike Father’s Church

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BREAKING: Police Arrest Suspects As Explosion Rocks Wike Father’s Church

Nyesom Wike

An explosion has reportedly rocked a church belonging to the father of Rivers Governor, Nyesom Wike, in Port Harcourt, the state capital.

The Rivers State Police Command has however announced the arrest of three suspects who allegedly detonated explosives at a Pentecostal church, Christain Universal Church International, located at Mile 3, Diobu area of Port Harcourt.

Also Read: Buhari Will Set Nigeria On Fire If He Doesn’t Implement People’s Demands —Wike

The act was reportedly carried out on Saturday night and detonated the explosives suspected to be dynamite.

According to reports, a significant part of the church was damaged by the explosion, which created panic in the area.

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Metro News

Gunmen Abduct Wife Of Akeredolu’s Chief Of Staff

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 Gunmen Abduct Wife Of Akeredolu’s Chief Of Staff

Ondo on map

Kidnappers on Friday abducted the wife of Olugbenga Ale, Chief of Staff to Ondo State Governor, Rotimi Akeredolu.

According to reports, she was kidnapped around Owena after the Joseph Ayo Babalola University while on her way back to Ondo from Lagos State.

Also Read: Unknown Gunmen Kill Ondo Traditional Ruler, Olufon Of Ifon

The police spokesman in the state, ASP Tee-Leo Ikoro, confirmed the news to Channels Television on Friday.

This development is coming about twenty-four hours after a first-class traditional ruler in Ondo State, the Olufon of Ifon in Ose local government, Oba Isreal Adeusi, was murdered by suspected kidnappers.

 

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Tech News

TECNO Stormed Computer Village with BBNaija’s OZO to Wrap up its Black Friday Sales Activities

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The month of November is always known for its intense sales activities because the best deals of the year come
during the Black Friday Period. For TECNO, Africa Number One mobile brand, it was the time to reward its
customers with massive discounts and various gift items while also unveiling some of its new devices.

The brand in collaboration with SLOT stormed computer village as part of the events to wrap up its black Friday
sale activities, hosted BBNaija’s Ozoemena Chukwu to a hangout at SLOT Ikeja.

Fans and customers had a fun time interacting with the handsome celebrity while enjoying discount offers on
TECNO devices. Different deals and gift items were up for grabs as customers who made purchases at the store
enjoyed 50% discounts on Spark 5, Camon 16 Series and 100% cashback on the Spark 5 Pro.

The major highlight of the event was the presentation prizes to lucky winners. Customers who participated in
the spin the wheel game won gifts items such as Bluetooth Speaker; Power Bank and kettle while those who
participated in the Scratch and Win Promo won for themselves different deals ranging from 50% to 100%
cashback.

TECNO also introduced two latest devices-the Spark GO 2020-powered by Google Android 10 Go Edition and a
TECNO POVA. POVA means ‘Powering Optimal Value and Ambitions’ is a rebrand of the popular battery series
formerly known as Pouvoir was inspired by the zeal to deliver budget-friendly smartphones with superior
gaming experience.

The first of its kind 6.8-inch TECNO POVA, is powered by Mediatek Helio G80 octa-core processor and hyper-
engine game technology that transforms gameplay experience giving ultimate stability and a high refresh rate.
Additionally, users will benefit from the “Game Space,” “Game Mode,” and “Game Assistant 2.0” features,
allowing them to switch to the “do not disturb” function, a much-anticipated experience all gamers will
absolutely enjoy.

The TECNO POVA is also equipped with a power-packed multitasking effect ramped up by 6GB RAM and 128GB
of internal memory. The device also has a 6000mAh super big battery, 18W Dual IC Flash charger, a standby
time of 30 days and the ability to play music for 8 days straight, on just a single charge. It’s the perfect
smartphone offering a way to worry less about low battery.

The new devices are available for purchase this November and for the rest of November, customers will enjoy
amazing discounts, instant and mega prizes on TECNO devices.

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