News
Dangote’s $2bln petrochemical plant almost ready,to produce 77 grades of chemicals
The Dangote’s Two Billion US Dollar petrochemical plant located in Ibeju-Lekki, Lagos State, is to produce 77 different high-performance grades of polypropylene.
The Group Executive Director, Strategy, Capital Projects and Portfolio Development, Dangote Industries Ltd., Mr Devakumar Edwin, disclosed this in a statement obtained in Lokoja on Monday .
The statement sent by e-mail said that Edwin disclosed this while giving an update on the petrochemical project which is nearing completion and said to be the biggest in Africa.
The statement was signed by Mr Tony Chiejine,Assistant Manager,Group Communication and Branding of Dangote Group.
According to the Group Executive Director , the plant with an estimated yearly turn over of $1.2 billion has the capacity to produce 900,000 metric tonnes of 77 different grades of petrochemical per annum .
He said that the 77 different polypropylene can go for different usage.
The Dangote Petrochemical plant is situated alongside the Dangote Refinery also in Lekki, Lagos State.
” It has been strategically positioned to cater for the demands of the growing plastic processing downstream industries; not only in Africa, but also in other parts of the world.
” The Dangote Petrochemical Plant, will drive investment in the downstream industries massively , generating huge value addition in the country , generate employment , increase tax revenues , reduce foreign exchange outflow and increase the Gross Domestic Product (GDP) of the country,” he said.
Edwin added that the petrochemical plant, would also embark on the production of polyethylene products in the nearest future.
On completion, the Dangote Chief said that the petrochemical plant would reduce the demand for foreign exchange from the nation’s treasury.
“Right now, raw materials from polypropylene are imported into the country. There is no foreign exchange for manufacturers to import raw materials. The Dangote Petrochemical plant is going to take care of this challenge.
“When the raw materials are locally available, there will be many more people who will be willing to invest in the economy.
” So,it not just the savings of foreign exchange from petrochemical products’ importation, the country’s downstream sector will also benefit hugely from the availability of petrochemicals in the country,” he further explained.
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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I am writing to felicitate with Your Excellency, Atku Abubakar, GCON, former Vice-President of Nigeria (Zege Mule u Tiv & Wazirin Adamawa)
on the occasion of your 79th birthday anniversary.
I join your teeming admirers globally in celebrating you on this special day, an adorable Statesman and my Boss.
I recall with nostalgia, how countless generations have benefited from your generosity, wealth of experience and benevolence including being my key benefactor even as a young lawyer for my professional success.
Your Excellency, may your special day be filled with grandeur befitting your illustrious career.
I wish you continued success, prosperity, and an unending stream of accolades.
It takes a remarkable kind of fortitude to remain active in public life well into one’s golden years. Your dedication and patriotism remain truly exceptional.
May you enjoy a day of reflection on your many years of fruitful service to humanity. It is my prayer that God Almighty grants you many more healthy, fruitful, and fulfilling years ahead, and continues to endow you with wisdom, strength, and the grace to keep contributing to our nation-building.
Happy Birthday, Your Excellency.
Michael Kaase Aondoakaa SAN.
Former Attorney General of the Federation and Minister of Justice
TAU reaffirms commitment to globally competitive learning
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