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Nigerians to buy shares in dangote refinery
Africa’s richest person and President of the Dangote Group, Aliko Dangote, has said Nigerians will soon be able to invest directly in the Dangote Refinery, describing the move as part of efforts to broaden public ownership of the project.
Dangote made this known on Saturday while speaking with journalists during a tour of the facility by the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, alongside members of the NNPC board and executive management team.
According to him, plans are underway to allow individuals to purchase shares in the refinery within the next four to five months.
“Individually, Nigerians too will have an opportunity… in the next maximum four or five months, they will actually be able to buy their shares,” Dangote said.
“They are holding 7.25 per cent of the shares that we have here… and they are holding that on behalf of Nigerians,” he said.
Dangote added that investors would have flexibility in how they receive dividends from their investments.
“People will have a choice either to get their dividends in naira or to get their dividends in dollars because we earn dollars,” he said.
Beyond public investment, the billionaire businessman said the refinery would deepen collaboration with NNPC to strengthen operations and explore additional opportunities across the oil and gas value chain.
“I think the sky is the limit and we (NNPC and Dangote Refinery) will cooperate and also make sure that we work together to make sure that we make Nigerians proud,” he said.
On potential upstream partnerships, Dangote said discussions were ongoing.
“Most likely, depending on our own discussions with them, we will partner with them, maybe in some of the upstream. They, too, will partner with us here because here is not a refinery. It’s an industrial hub,” he stated.
He also disclosed that new industrial projects within the complex, including the production of linear alkylbenzene used in detergents, would position the facility as a key supplier across Africa.
“That raw material for detergent will be sufficient for the entire African continent… and we will deliver all this in the next 30 months,” he added.
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Breaking: Court of Appeal rules in favour of Turaki -led PDP candidate for Osun governorship election
The Court of Appeal, Abuja Division, on Thursday, ruled that the Peoples Democratic Party, PDP Gubernatorial Candidate in Osun State was validly nominated by the Tanimu Turaki-led National Working Committee.
The court also ordered INEC to list the PDP logo on the ballot ahead of Saturday’s gubernatorial election.
The Court held that access code is neither a creation of the Constitution nor the Electoral Act; rather, a creation of INEC’s guidelines and cannot, in any way, override the provisions of the Constitution.
Section 288 of the Constitution does not specify the method for nominating candidates; it only states that the names of candidates should be forwarded to the Commission.
The court further held that the defendant (INEC) should take steps to include the name of the appellant on the ballot paper.
Additionally, the court ruled that the primary election conducted by the Tanimu Turaki-led National Working Committee (NWC) of the PDP was a valid primary election in law.
The three-man panel of justices—Justice Mahmud, Justice Jaro, and Justice Ankawere, was unanimous in its judgment.
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Breaking: NHRC sets up situation room to monitor and document hate speech, intimidation, threat to life ahead 2027
The national Human Rights Commission, NHRC, has set up a situation room to monitor and document all incidences of hate speech, intimidation and threat to life by politicians and other actors ahead of the 2027 general election.
The National Human Rights Commission (NHRC) has expressed concerns over rising incidences of hate speech, intimidation and outright threat to life by highly placed individuals, especially politicians and religious leaders.
The Executive Secretary of the Commission, Chef Tony Ojukwu, SAN, revealed this on Thursday in Abuja at a press conference.
He said the situation room would enable the Commission harvest data, analysis and document persons, agencies and others involved in the negative statements in order to ensure they are properly tracked and brought to book by relevant agencies.
Ojukwu also took journalists on a tour of the newly set up situation room.
Details later…..
News
Breaking: NHRC expresses concern over rising incidences of hate speech, threat to life ahead 2027 elections
The National Human Rights Commission (NHRC) has expressed concerns over rising incidences of hate speech, intimidation and outright threat to life by highly placed individuals, especially politicians and religious leaders.
At a press conference in Abuja Thursday, the Executive Secretary of the Commission, Chef Tony Ojukwu, SAN, recalled statements credited to Senator Francis Fadahunsi and Sheikh Yahya Jingir and described the das dangerous with capacity to set the nation ablaze.
He called on politicians, religious and traditional rulers, among other stakeholders to call their supporters and faithful to orders.
He urged government to act before rhetorics turn to violence, saying the forthcoming election in Osun State should serve as example of Nigeria’s capacity to conduct political contest in compliance with international best practices.
Details later…..
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