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$14bn Refinery: CBN Assures Dangote Of Support
Following its proposal to build a refinery worth $14 billion, the Central Bank of Nigeria (CBN) has said that it would assist the Dangote Group to access foreign exchange to facilitate the project.
This was disclosed by the Central Bank, CBN Governor, Mr. Godwin Emefiele during a tour of the refinery which is projected to refine 650,000 barrels of crude oil per day.
Speaking during the tour of the facility at its location within the Lekki Free Trade Zone in Lagos, the CBN governor said that the support was to ease the importation of equipment needed to bring the Dangote refinery to reality.
Your ongoing 14 billion dollar refinery investment will enjoy our support, no doubt.
We are doing this to fast-track the importation of equipment you need for a speedy completion of that project and to encourage other Nigerians to follow your lead,’’ Emefiele said.
According to him, the tour is necessary to lend our support to this laudable project that will transform Nigeria’s downstream oil sector.
The Dangote Group approached us to indicate their interest to invest in refining crude, such that petrol-chemicals, fertiliser and fuel will be produced, about three years ago.
Today, the three projects, which are valued at 14 billion dollars (N2.8 trillion), are on course and this is highly commendable, ‘’ he said.
Emefiele said the CBN would continue to support tremendous and impactful projects that would improve the socio-economic profile of the country through such investments.
He said the diversification of the Dangote Group was worthy of emulation by other industrialists.
By the time this refinery is completed, it will not only service the needs of our domestic economy but shore up our international oil investments.
“Projects like this and our support will encourage more Nigerians to begin to think like the Dangote Group,’’ the CBN boss added.
Alhaji Aliko Dangote, Chairman, Dangote Group, said that the refinery would commence commercial operations at the early period of 2018.
We are set to unveil the world’s largest refinery which will make Nigeria self-sufficient in petroleum products refining and also become a major exporter of oil.
This project will mark a turning point in Nigeria’s search for local refining of crude oil.
We will ensure the value chain in crude oil production is uplifted and other facilitators properly integrated into our scheme,’’ he said.
The chairman said that the fertiliser production aspect of the refinery would be completed by 2017.
Dangote said: “This project is generally about saving foreign exchange and earning more for our nation through the diversification of the economy.
We started with local production of cement and today we export more than 12 tons of it.
We don’t need dollars now to continue to produce Dangote Cement and that is the same thing we will do with this refinery.
This refinery will have the capacity to serve this country optimally and it is part of our contribution in the vanguard to diversify our economy”, he added.
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Youth Groups Hail Tinubu’s Vision for Regional Development
…Commend NCDC, 20-Year North Central Development Plan
Youth groups have hailed President Bola Ahmed Tinubu’s vision for regional development following the establishment of the North Central Development Commission (NCDC) and other regional development commissions.
The groups made the commendation in separate statements on the sidelines of a stakeholders’ engagement organised by the NCDC in Abuja.
The President of the Nigerian Youth Congress, Jethro Annum, and the NYCN State Chairman of Niger State, Ambassador Abdullahi Muhammed Ishaq, who spoke on behalf of the NYCN North Central Chairmen, described the NCDC as a catalyst for development.
They said the Commission’s 20-year development plan reflects the need for long-term planning and aligns with the broader development vision of President Tinubu for the country.
Similarly, the Empowerment for Unemployed Youth Initiative (EUYI), in a statement signed by its National Coordinator, Danesi Momoh, and the North Central Youth Mobilization and Sensitization (NOCYMS), led by Hon. Iorwuese Ayo Fidelis, commended the NCDC for convening a broad stakeholders’ engagement aimed at developing a clear and sustainable development direction for the region over the next 20 years.
The engagement, which brought together key stakeholders and voices from across the North Central region, was described as a significant step towards developing a plan that reflects the aspirations, realities and potential of the people.
The youth leaders described the initiative as timely and forward-looking, stressing that young people and students must remain an integral part of conversations about the future of the region.
They noted that the North Central is home to millions of young Nigerians whose energy, skills, ideas and innovation can contribute significantly to the region’s economic and social transformation when provided with the right opportunities.
“Students and young people are not only beneficiaries of development; we are also partners in building the future we desire. Any 20-year development plan for the North Central must therefore give serious attention to education, skills development, employment, entrepreneurship, technology and youth participation,” they said.
The youth representatives further assured the NCDC of their readiness to work closely with the Commission and other relevant stakeholders to advance initiatives that will create meaningful opportunities for students and young people across the region.
They expressed confidence that sustained collaboration among the Commission, governments, educational institutions, organised youth bodies, traditional institutions, the private sector and other stakeholders could help translate the region’s enormous potential into measurable and sustainable development.
News
NANS Seeks Students’ Inclusion in NCDC’s 20-Year Development Plan
…Commends Commission, Urges Quarterly Engagements
The National Association of Nigerian Students (NANS), Zone C, has called for sustained inclusion of students and young people in the North Central Development Commission’s (NCDC) 20-year development agenda.
The association made the call while commending the NCDC for convening a broad stakeholders’ engagement to shape a long-term development direction for the region.
The Coordinator of NANS Zone C, Comrade Abiola Azeez Babatunde, said students and young people must not be treated merely as beneficiaries of development, but as active partners in shaping the future of the North Central.
According to him, the region’s large youth population represents a significant pool of energy, skills, ideas and innovation that can contribute to economic and social transformation if properly harnessed.
“Students and young people are not only beneficiaries of development; we are also partners in building the future we desire,” he said.
Babatunde said any 20-year development plan for the region should give serious attention to education, skills development, employment, entrepreneurship, technology and youth participation.
He described the NCDC stakeholders’ engagement as timely and forward-looking, saying it provided an important platform for different interests across the region to contribute to the development conversation.
Also in attendance was Comrade Anzaku Shedrack CNS, Head of Emergency and Disaster Management, NANS, who represented the NANS President, Comrade Akinteye Babatunde GCNS.
Shedrack commended the Commission for the initiative and urged it to sustain similar engagements quarterly.
He also assured the NCDC that NANS was pleased with the 20-year development roadmap and would continue to support the Commission in advancing initiatives aimed at developing the region.
NANS Zone C further pledged to work with the Commission and other stakeholders to promote initiatives capable of creating opportunities for students and young Nigerians across the North Central.
The association called for continuous engagement with the student constituency, stressing that their experiences, concerns and ideas should form part of the region’s long-term development agenda.
It expressed optimism that sustained collaboration among the NCDC, governments, educational institutions, organised youth bodies, traditional institutions, the private sector and other stakeholders would help unlock the region’s potential and promote inclusive growth.
Aluta Continua, Victoria Ascerta.
News
2027: Stay Off Imo State, Lawyers Warn Wike
Imo Lawyers for the Defence of Democracy have called on the Minister of the Federal Capital Territory, Nyesom Wike, to stop what it termed public attacks on Imo State Governor, Senator Hope Uzodinma, saying political disagreements should be resolved through democratic dialogue and constitutional means.The group made the call in a statement signed by its Secretary, Ifeoma Chukwunyere on Friday, September 18, 2026, amid what it described as increasingly personal exchanges between Wike and Uzodinma over political developments within the All Progressives Congress.The lawyers said the APC Governors’ Forum had rejected what they described as Wike’s “Rainbow Coalition” political arrangement, arguing that the disagreement should be addressed with the forum rather than through personal attacks on Uzodinma.According to the group, the forum’s position was based on concerns that the political arrangement could weaken the APC or create divided loyalty within the party.“We recognise the constitutional right of every Nigerian, including public officials and political actors, to express political opinions, criticise policies and participate in political activities,” the group said.“However, that freedom must not become a licence for personal attacks, intimidation or unnecessary escalation.”The lawyers said Uzodinma, as the governor of Imo State, should be allowed to discharge his responsibilities without political exchanges creating tension capable of affecting the peace and stability of the state.They urged Wike to desist from further public comments concerning the governor, insisting that political disagreements should focus on policies, programmes, political positions and verifiable facts rather than personal exchanges.The group also warned political actors against turning Imo State into a battleground for political supremacy.“Imo State is not a battlefield for political supremacy. Its people have the constitutional right to choose their leaders and determine their political future without undue interference, intimidation or external pressure,” it said.The lawyers further called on political parties, leaders, supporters and media platforms to avoid inflammatory language that could provoke confrontation.They urged Uzodinma to continue to operate within the Constitution and the laws of the country, while allowing relevant political and legal institutions to handle legitimate disagreements.The group also appealed to President Bola Tinubu to encourage restraint among political actors, particularly in relation to the dispute between Wike and Uzodinma.Addressing Wike directly, the lawyers said: “Mr. Minister, Imo State belongs to its people. You are not from Imo, so stay off Imo.”They stressed that disagreements over political strategies, elections, alliances and political actors in the state should be settled through democratic debate and constitutional processes.The group said it would continue to monitor developments affecting constitutional governance, democratic participation, political freedom and peace in Imo State.“Our position is simple: Democracy must prevail. The Constitution must prevail. The rule of law must prevail,” the statement added.
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