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Business News

What the Ghanaian President thinks about Dangote Refinery

Ghanaian Government has expressed its optimism towards the Dangote Refinery. The West African country is certain when the refinery begins operation, Nigeria, Ghana, and many other African countries will benefit greatly from the establishment.

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Ghanian president on Dangote

Ghanaian Government has expressed its optimism towards the Dangote Refinery. The West African country is certain when the refinery begins operation, Nigeria, Ghana, and many other African countries will benefit greatly from the establishment.

The President of Ghana, Nana Akufo-Addo, during a forum in Egypt disclosed Ghana is optimistic about the outcome, and the country has projected a desirable outcome after the completion of the facility in Nigeria.

While discussing the Dangote refinery impact on African economy, he said the facility will bring relief to countries in the continent suffering from sloppy economic situations caused by price instability.

Oil distributors in Ghana on queue

Nairametrics had reported that oil distributors in Ghana and other African countries have pledge patronage of oil importation from the Dangote refinery, stating that arrangement has been made to ease the process.

Similarly, the Ghanaian Government also believes that it would be more profitable for African countries to import petroleum products from Dangote Refinery instead of depending on international supplies which are more expensive and often influenced by factors such as forex.

Revenue hub for Nigeria

Aliko Dangote, the President of Dangote Group, has disclosed that Dangote Petroleum Refinery will create $11 billion per annum market for Nigerian crude. According to Dangote, upon completion, the Dangote Refinery will meet 100 per cent daily Nigerian consumption of all refined products and would also have the surplus for export. The refinery will also boost job employment in Nigeria.

Benefit of Dangote refinery to Nigeria

Meanwhile, the Technical Adviser to the President of Dangote Group on Refinery and Petrochemicals, Babajide Soyode said the prices of petroleum products across the African sub-region will experience stability. Adding that there will be lower cost of business, and the completion of Dangote Refinery and other modular refinery projects in Nigeria would culminate in the integration of the downstream industries

While speaking at the just-concluded 2019 Nigeria International Petroleum Summit in Abuja, Soyode said;

Deal book 300 x 250

“By the time Dangote completes the largest single train refinery, in addition to what other investors are doing, Nigeria will have more than enough petrol for domestic use and for export,” stressing the need for government to allow the private sector run the downstream industry.

Adding that the value of naira will be boosted when Nigeria start to refine crude oil within the country rather than import offshore. Suggesting there is no need for the Federal Government to continue to subsidise petrol.

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

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Tech News

Netflix competes with TikTok, launches rival product

Netflix has launched a new feature that will allow users to watch, react,r share short clips and more.

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Netflix users increase by 16 million in Q1 2020

Netflix, the world’s leading video streaming platform has launched a new feature called “Fast Laughs” that will allow users to watch, react or share short clips as well as add the show or movie to a Netflix watchlist or you can simply tap the “Play” button to start watching the show immediately.

Similar to Tiktok or Instagram’s Reel, Fast Laughs features full-screen videos that you can swipe through vertically, and places the engagement buttons on the right side of the screen. These buttons let you react to the clip with a “LOL” (crying/laughing) emoji or share it via iMessage or other social media apps, like WhatsApp, Instagram, Snapchat, or Twitter. The only difference is that there is no comment button yet.

Users can access the feed through the bottom navigation menu by clicking on the Fast Laughs tab. The clips will start playing automatically when one ends another begins.

The feature will include a full-screen feed of funny clips from Netflix’s big comedy catalog including films like “Murder Mystery”, series like “Big Mouth’’, sitcoms like the ‘Crew’’ and stand-up from comedians like Kevin Hart and Ali Wong.

Fast laugh is currently available for iPhone users in select countries, and Netflix will be testing on Android soon.

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Business News

Apapa gridlock: Sanwo-Olu explains how his administration solved the problem

The Governor said the electronic Call-Up was designed to permanently address the movement of trailers in and out of the ports.

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Lagos, Sanwo-Olu, Businesses that must remain closed after May 4

The Lagos State Governor, Babajide Sanwo-Olu, has explained how his administration in partnership with the Nigerian Ports Authority (NPA) and other stakeholders in the maritime sector was able to get the heavy articulated vehicles off the road around the Apapa axis and improve traffic along that corridor.

This is as the governor has warned that the state government would resist any attempt by individuals and maritime operators that may want to reverse the progress being recorded along the Apapa corridor.

This disclosure was made by Sanwo-Olu on Wednesday while speaking at the formal hand over of newly improved 3 traffic-prone junctions along the Lekk-Epe expressway.

The Governor said the electronic Call-Up System launched, last Saturday, in the Apapa seaports was designed to permanently address the movement of trailers in and out of the ports, and bring about traffic improvement along the corridor.

What Governor Babajide Sanwo-Olu is saying

While sharing the details, the Governor described the progress recorded in Apapa as a hard-won, disclosing that it took the State Government over a year to bring together all stakeholders on the discussion table to agree on a far-reaching approach to permanently address the problem.

Sanwo-Olu said, “What we are seeing is the beginning of the lasting solution we have brought to Apapa. Our appeal is that we are not out of the problem completely yet. Our citizens can now see that a journey that took them three hours can, indeed, take between 15 and 20 minutes to commute. Everyone can now see that when we work together, indeed we can solve our problems internally.

“We have taken some troublesome people that are benefiting from the gridlock out of the way. Whatever they were earning illegally has been taken away from them. We know they will want to make an attempt to fight back. We will not stop at anything to ensure that anybody that tries to retract the progress or wants to take us back to gridlock in Apapa will be fought against. We will bring out their names and shame them.

The Governor vowed that any corporate organisation, security operative, NPA or State Government official who attempts to circumvent the newly instituted traffic procedures around the Apapa seaports would be named and shamed publicly.

The Governor said the State was serious about bringing a lasting solution to the Apapa congestion, stressing that the Government could no longer condone the careless attitude of truckers clogging the highways with heavy-duty vehicles.

He said part of the State’s efforts was to approach the Federal Government for the unbundling of the inefficient Presidential Taskforce on Apapa gridlock and took over the traffic management in the area.

Sanwo-Olu added that State Government also met with stakeholders, including the Federal Ministry of Transportation, Maritime operators and seaports unions.

He said: “I commend NPA’s Managing Director and management for working with us on this agenda. My appeal is to other stakeholders in the maritime sector who have not signed up on the electronic Call-Up System we have embarked on. I call the big logistics companies, including Sifax, Dangote, Flour Mills, Tunde Folawiyo and others, to come and collaborate with us on this progress.

“Let us have a system that our citizens will be proud of. We will stop at nothing to sustain the progress achieved. Our team will be working round the clock to keep the system working. This is one of our modest efforts to deliver what we promised in solving traffic and transportation challenges. We will not relent in doing anything required to ensure traffic improvement in Apapa.”

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What you should know

  • Following the withdrawal of the Presidential Task Force on port congestion, the Lagos State Governor, Babajide Sanwo-Olu, set up a Special Traffic Management Team to resolve the traffic gridlock in and around the Apapa corridor.
  • The Electronic Truck call-up system, Eto, which was designed and launched by NPA for the management of truck movement and access to and from the Lagos ports and to end the gridlock in and around the ports, formally took off last weekend.
  • During the implementation of the new system, all trucks doing business at the ports will be required to park at the approved truck parks until they are called up into the port through the Eto app.

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