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Dangote Refinery Addresses Misconceptions Regarding NNPCL’s $1 Billion Investment

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The Dangote Refinery has issued a statement to clarify the circumstances surrounding the Nigerian National Petroleum Company Limited’s (NNPCL) recent $1 billion investment in the refinery.

Anthony Chiejina, the Group Chief Branding and Communications Officer at Dangote Group, stated on Wednesday that claims made by NNPCL regarding the nature of this investment were misleading.

“We have received numerous inquiries from media outlets and stakeholders seeking clarification on a report attributed to NNPCL, which suggested that their decision to secure a $1 billion loan against crude oil was critical in alleviating liquidity issues faced by the Dangote Refinery,” Chiejina explained.

He emphasized that this portrayal is inaccurate, noting that the $1 billion represents merely 5% of the total investment in the Dangote Refinery.

Chiejina further clarified that the NNPCL’s investment should not be viewed as a bailout for liquidity challenges, as reported. Instead, it constitutes a strategic partnership, with NNPCL acquiring a 20% equity stake in the refinery, valued at $2.76 billion.

According to Chiejina, NNPCL made an initial payment of $1 billion, with the remaining amount to be recouped over a period of five years through deductions from crude oil supplies and dividends. He asserted that such a payment arrangement would be unfeasible if the refinery were genuinely experiencing liquidity difficulties.

He stressed that this partnership is rooted in NNPCL’s strategic role as the largest off-taker of Nigerian crude and the exclusive supplier of gasoline in Nigeria at that time.

However, due to NNPCL’s failure to fulfill its commitment to supply the agreed 300,000 barrels of crude oil per day, the company’s equity stake has been adjusted down to 7.24%.

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Chiejina reaffirmed that NNPCL is a valued partner in progress and urged all stakeholders to remain grounded in factual representation and to contextualize the narrative accurately.

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Jubilation in Edo APC as Leaked Tribunal Judgement Shows 2-1 Majority in Favour of Gov. Monday Okpebholo

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April 1, 2025

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A storm of excitement swept through Edo APC circles late Sunday evening after what appeared to be a draft copy of the Governorship Election Petition Tribunal’s judgment surfaced in a WhatsApp group populated by senior party stakeholders.

The document, which seems to mirror an official format, complete with judicial language, cited authorities, and even a breakdown of the votes in contention indicates a 2-1 majority ruling affirming the declaration of Monday Okpebholo as the duly elected Governor of Edo State.

After a rocky weekend where Gov. Okpebholo had his hands full managing a national crisis caused by the killings in Uromi, this must come as sweet music to his ears.

The draft judgment appears to have dismissed the petition filed by PDP’s Asue Ighodalo and his party on grounds of insufficient proof that non-compliance substantially affected the outcome of the election. Citing cases like Oyetola v. Adeleke and Atiku v. INEC, the judgment stated that while there was some evidence of irregularities, it wasn’t enough to overturn the INEC-declared result.

However, the leaked document also includes a fiery dissenting judgment by one of the Justices who found in favour of the PDP candidate, stating that substantial non-compliance had indeed occurred across over 500 polling units and that the recalculated votes clearly put Ighodalo ahead. His minority verdict called for INEC to nullify the current certificate of return and issue a new one to Ighodalo.

This tantalising peek behind the judicial curtain comes after the Tribunal Secretary had, on March 31st, formally notified all parties that judgment would be delivered on Tuesday, April 2nd. While it is uncommon, though not unprecedented, for judgments to leak, the ubiquity of social media apps like WhatsApp and Telegram has made such “accidental” document sharing nearly impossible to police.

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For the APC, however, the mood is nothing short of triumphant. Sources say the party has already issued quiet directives to its acting Local Government Chairmen to mobilize five loyalists each from the state’s 18 LGAs to Abuja ostensibly for a “solidarity visit” but widely believed to be preparation for a full-blown celebration once the judgment is officially read in open court.

Meanwhile, within the PDP camp, the mood is said to be somber, with key figures choosing not to respond to inquiries about the upcoming judgment. One aide to the PDP State Chairman Aziegbemin privately expressed concern over “judicial mathsmagic,” adding cryptically, “We’ll wait for what is read in court, not what is forwarded on WhatsApp. APC are masters of propaganda. We will wait for the court to rule on Wednesday, then take it from there.”

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Eid-el-fitr: PDP governors call for peaceful coexistence

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April 1, 2025

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The Peoples Democratic Party Governors’ Forum (PDP-GF) has called on Nigerians to continue to live together in peace and harmony.

The forum Chairman, Gov. Bala Mohammed of Bauchi State, made the call in his Sallah message, issued by the forum’s Director-General, Emmanuel Agbo, on Monday in Abuja.

Mohammed urged Nigerians not to relent in their prayers and support for the leaders.

He also urged them to continue to pray for the peace, security and unity of the country.

He congratulated the Muslim faithful on the Eid-el-Fitr celebration, which signified the completion of a month-long Ramadan fast.

The governor advised them to continue to reflect on the lessons of tolerance, love and sacrifice that the period represented.

“The forum felicitates with Muslims from across the world on the dawn of another Eid-el-fitr.

“We pray that the Almighty Allah would accept our worship and keep us all alive and healthy to witness many more.

“Though the Ramadan season is over, we urge all Muslim faithful to continue to practice the lessons taught in the Holy Month.

“We must remain pious and close to Allah and deny ourselves in total submission to His will,” he said

Mohammed said that as one of the key pillars of Islam, the Ramadan was important for developing the virtues of self-renunciation in every true Muslim.

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Katsina State, beacon of hope, opportunities, says Radda

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April 1, 2025

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Katsina State Governor, Dikko Radda has said his administration remains dedicated to fostering security, economic prosperity and infrastructure development to make the state beacon of hope and opportunity for all.

Radda stated this while addressing dignitaries at the “2025 Hawan Bariki” durbar, at the Government House, on Monday in Katsina.

He said that opportunities abound in the state in the area of agriculture, commerce and tourism among others.

“My administration remains dedicated to fostering an environment of security, economic prosperity, and infrastructural development.

“This is to ensure that Katsina State remains a beacon of hope and opportunity for all.

“We are investing in education to empower our youth, strengthening our healthcare system to ensure the well-being of our people, and enhancing security to protect lives and property,” he said.

The governor described this year’s traditional homage, as a historic occasion, marking the first time the state hosted 10 international ambassadors and their families.

“The iconic Sallah Durbar is not merely a festival; it is a testament to our deep-rooted culture, resilience, and unwavering commitment to peace and harmony.

“The magnificent display of horsemanship, the vibrancy of our traditional attire, and the melodies of our folk music all reflect the beauty of our identity and the pride we take in preserving our heritage,” he said

Radda, therefore, urged the guests and investors to explore numerous opportunities that the state offer in agriculture, commerce and tourism among others.

“Our fertile land presents vast opportunities for agribusiness, while our markets serve as hubs of trade and cultural heritage,” he said

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In his remarks, the Emir of Katsina, Alhaji Abdulmumini Kabir-Usman, commended the governor for the numerous development projects executed across the state.

The Emir also cautioned the people against taking laws into their hands following the unfortunate killing of some travellers in Edo state recently.

He urged them to exercise patience and allow the government to handle the matter.(NAN)

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