Connect with us

Editorial

Dangote Refinery, Pride Of Africa

Published

on

Undoubtedly, Nigeria’s refineries are some of the poorest in the world. However, this narrative is about to change as the Dangote Petroleum Refinery, the world’s largest single-train refinery, will open its doors to business in the coming days. President Muhammadu Buhari will commission the outfit on May 22, marking a significant milestone for the country’s oil industry.
Besides the impending narrative change, the country will soon be home to the largest and most advanced refinery equipment ever built in global refining history. This will establish Nigeria as a major petroleum refining hub in Africa, with the refinery meeting the nation’s gasoline requirements and producing a surplus for export.
Several highly advanced refineries and petrochemical plants existed globally prior to the commencement of the 650,000 barrels a day refinery project. These included the Jamnagar Refinery in India operated by Reliance Industries, the Zhanjiang Refinery in China, and the Yanbu Refinery and Sadara Chemical Complex in Saudi Arabia.
Dangote refinery is currently exploring new technology to select the largest and most efficient equipment for global crude refining. The refinery will process multiple grades of crude oil, including shale oil, to produce high-quality gasoline, diesel, kerosene and aviation fuels that meet Euro V emissions specifications.
When fully implemented, the project will generate over 9,500 direct and 25,000 indirect jobs. In 2022, the first products from Dangote refinery would have come out as planned, preventing the continual harm to the Nigerian economy.
Energy poverty is a major economic problem in Nigeria. The lack of Premium Motor Spirit and electric power has caused crucial issues with fiscal and monetary instruments. Additionally, the scarcity of aviation fuel and diesel has further exacerbated the problem in the petroleum products market.
Last year, the Nigerian aviation industry almost collapsed following an unexpected surge in Jet-fuel prices and scarcity. This situation also affected small and medium scale enterprises as diesel prices followed a similar trend. As a result, several businesses, including hotels and banks, have been struggling to operate because of high operational costs.
Nigeria’s energy future appears bleak as the demand for critical petroleum products continues to rise while the supply remains insufficient. This lack of increase in supply will have a negative impact on the country’s energy posture in 2023 and beyond.
The new refinery will address the long-standing issues surrounding petroleum products and prices. These issues include scarcity, adulteration, and the ongoing subsidy debate. With its advanced technology and economic feasibility, the refinery is a critical asset for the Nigeria’s energy market.
According to the National Bureau of Statistics, other oil products imports in Q3 2022 amounted to N1.615 trillion, representing 28.10 per cent of total imports. This is a 9.11 per cent increase from Q2 2022, which recorded N1.480 trillion. NBS data suggests that the import value may reach 6.2 trillion by the end of 2022.
Even though the Dangote Refinery Gate Price is not expected to be denominated in Naira, there lies substantial foreign exchange savings. This will translate into a massive reduction of the pressure on the Central Monetary Authority mandate of defending the Naira. This is found by extracting the foreign exchange components of the landing cost of PMS before an under/over recovery administration is carried out.
The total cost of importing the products includes various components such as freight charges, trader’s margin of US$10/30,000mt, ship-ship charges, receipt losses of 0.3 per cent, NPA $28,000 per day demurrage after 10 days allowance, $10.5/mt NPA handling charges, cost of stock financing for the imported products, US$2.50/mt and other expenses.
According to a recent study conducted by a group of researchers, the components that make up 27 per cent of the total pump price of any petroleum product have been identified. This translates to a staggering N1.674 trillion being spent on buying foreign exchange for payment of imported petroleum products, which could have been saved if a domestic refinery was in place.
When the refinery goes into full operation, it will reveal the extent of damage caused by poor management of the petroleum industry since the end of the civil war. The Nigerian economy has suffered greatly, with every business, corporate, institutional, and individual aspirations affected by the mismanagement of petroleum products, especially PMS. Genuine government policies have also been negatively impacted.

Continue Reading

Editorial

Easter: A Call For National Renewal

Published

on

Yesterday was Easter Sunday, a day when Christians around the world celebrate their belief that Jesus Christ rose from the dead after being crucified and buried. The day is a moment for deep reflection and spiritual renewal. The Lenten season before Easter promotes self-examination, fasting, and prayers to help believers grow closer to God. This time of reflection leads to the joyful celebration of resurrection. The Risen Christ represents hope and the promise of life after death, highlighting themes of love, sacrifice, forgiveness, and reconciliation.
For those who truly understand Easter as celebrating life’s victory over death, the resurrection of Jesus of Nazareth—unjustly executed by Roman authorities—represents justice overcoming injustice, love conquering hatred, and divine compassion transcending human malice. This Easter message challenges humanity broadly and Nigerians specifically. Amid politics often devoid of morality, Easter calls us to prioritise the power of love over the love of power.
This year, Nigerians marked Easter amid a climate of insecurity, with citizens facing abduction for ransom on streets and from homes, and murder on farms and in places of worship. For many years, Nigeria has been entombed in darkness of injustice, sealed with the heavy stone of oppression. This oppression weighs down millions of citizens, preventing them from realising their God-given potential. Our national history reflects disturbing uncertainty and unnecessary, avoidable hardship for many.
Many individuals who pursue or currently occupy positions of public office have unfortunately succumbed to a distinctive form of blindness that accompanies power—a perceptual impairment that renders them unable to recognise a fundamental truth: that no nation built upon the foundation of injustice can truly endure or thrive in the long term. This deliberate refusal to see reality clearly has, over generations, enabled and perpetuated destructive cycles of inadequate governance, institutional failure, and widespread suffering among the very populations these officials have sworn to serve.
Beyond Easter’s religious festivities, we must confront the reality that our population has often fallen prey to dubious religiosity, fake patriotism, and criminally deceitful politics. Nigeria stands as a land immensely blessed by the Creator yet mindlessly damaged by negative attitudes of both leaders and citizens. Despite abundant natural endowments, our country remains populated by impoverished people.
An alarming number of young Nigerians are succumbing to despair. They see no future in their homeland and actively seek opportunities to leave a country that offers little hope to its children. Yet, Nigeria can and should rise from this tomb of hopelessness—Easter’s celebration symbolises precisely this restoration of hope in seemingly impossible circumstances.
Our collective hope must be rekindled and nurtured back to full strength. All Nigerians—from those in the highest positions of leadership to everyday citizens in communities across the nation—need to work diligently and conscientiously toward rebuilding and restoring genuine hope for the younger generation who represent our future. This essential task requires tangible, meaningful actions that clearly demonstrate a sincere commitment to positive, sustainable change rather than continuing the pattern of empty rhetoric and unfulfilled promises that has too often characterised past efforts.
If we genuinely wish to celebrate Jesus’ resurrection and apply its meaning to our national situation, we must resolve to operate differently. We must commit to building a nation where oppression has no place, where elections proceed without acrimony or ethnic profiling, where voter intimidation and vote buying are eliminated, and where results reflect the true will of the people.
Easter encapsulates the profound message of new beginnings and spiritual renewal, challenging us to apply these transformative principles to the rebirth of Nigeria by wholeheartedly embracing and actualising our lofty ideals. Indeed, the generations yet unborn, who will inherit the Nigeria we shape today through our actions and commitments, deserve nothing less than a thoroughly transformed country that lives up to its full potential as the giant of Africa.
For this new Nigeria to emerge, each citizen must commit to living with a completely renewed attitude. We must embrace transformation at both personal and collective levels. The journey toward national renewal begins with individual change—in our homes, workplaces, and communities. Easter should be understood not merely as a celebration but as a sacred obligation to our nation and one another. It represents a profound opportunity for rebirth and restoration. Just as the Easter story speaks of sacrifice leading to new life, our nation requires our collective sacrifice and dedication to experience true renewal.
This season imposes upon us the responsibility to rise from the dark tomb into which greed and selfishness have pushed us, embracing a new life dedicated to truth, goodness, and love. If Nigerians continue with business as usual—maintaining corrupt practices and self-serving attitudes—there would be no legitimate cause for celebration. Indeed, the true meaning of Easter for Nigeria lies not in festivities alone but in our collective determination to resurrect our nation from its current challenges toward a brighter, more hopeful future.

Continue Reading

Editorial

NAFDAC’s Destruction Of Counterfeit Drugs

Published

on

Last Friday, the National Agency for Food and Drug Administration and Control (NAFDAC) destroyed fake, counterfeit and substandard drugs worth over N1 trillion in Awka, the Anambra State capital. Recall that for one month, NAFDAC shut the Onitsha Drug Market, restricting shop owners from coming to the market, barricading it with military personnel, while officials broke into and ransacked shops in search of fake drugs.
NAFDAC’s Zonal Director for South-East, Dr. Martin Iluyomade, revealed some of the drugs destroyed to include Analgin, Tramadol, and various paediatric pharmaceuticals, which had been stored in prohibited areas or were banned by the World Health Organisation (WHO). Iluyomade said the closure and raids of the markets where the drugs were confiscated was in response to public complaints regarding the prevalence of fake, substandard and counterfeit drugs in the South-East.
He said: “Many of these drugs are banned, such as Analgin and certain paediatric medications, and they were stored in places that violate WHO regulations. It is our responsibility to ensure that these products are safe and fit for human consumption. These drugs were transported in a 140-foot truck, valued at over N1trillion, and were supposed to be stored at specific temperatures. However, they were kept in markets that do not meet the required standards.
“The volume of drugs found in these two markets could destabilise the country, and many of these are narcotic drugs associated with criminal activities. People who consume these drugs are not only harming themselves but also using them to commit crimes, which contributes to the growing insecurity in our country.”
Unfortunately, that is the chilling reality of counterfeit drugs, and it is a problem NAFDAC is relentlessly fighting. This dramatic action underscores the monumental scale of the problem and the unwavering commitment of NAFDAC to protect public health. The massive destruction highlights the pervasive nature of the counterfeit drug trade and the resources NAFDAC dedicates to combatting it.
Counterfeit drugs are dangerous, even deadly. They can contain the wrong dosage, the wrong active ingredients, or even harmful substances. Imagine taking a pill you believe will cure your illness, only to find it contains something entirely different – something that could worsen human condition or even kill. That is the terrifying reality of the counterfeit drug market.
The insidious world of counterfeit medications poses a grave threat, as these fake drugs often harbour toxic fillers or entirely different, untested chemicals. The consumption of such substances can trigger a cascade of adverse reactions, varying from minor allergic responses to catastrophic organ failure, leaving vulnerable individuals severely harmed. In this critical battle for public health, NAFDAC stands as our frontline defender.
Through tireless monitoring, rigorous inspections, and decisive action against those who peddle these dangerous fakes, NAFDAC acts as a vital gatekeeper, ensuring the safety and efficacy of the medications we depend on. Supporting NAFDAC’s mission is paramount, as it directly equates to safeguarding the lives and well-being of our Nigerians by preventing the proliferation of these harmful and potentially lethal counterfeit medications.
Given the breadth and criticality of NAFDAC’s mandate – regulating everything from food and drugs to cosmetics and medical devices – it is imperative that the Federal Government bolsters the agency’s resources and capabilities. This monumental task, encompassing the entire lifecycle of regulated products from importation to usage, demands substantial investment in infrastructure, advanced technological tools, and a highly skilled workforce.
Under-resourcing NAFDAC risks compromising its ability to effectively monitor and enforce regulations, potentially leading to substandard or counterfeit products entering the market, with devastating consequences for public health and safety. Therefore, increased funding, enhanced training programmes, and optimised operational systems are essential to fortify the agency’s effectiveness and ensure it can continue to protect the Nigerian populace.
No doubt, NAFDAC currently faces numerous hurdles in fulfilling its mandate. These challenges range from inadequate funding and outdated equipment to a lack of personnel and poor training. Insufficient funding directly translates to limited capacity for effective inspection, testing, and enforcement. Imagine trying to police a vast country with only a handful of officers – the task becomes virtually impossible. This lack of resources allows substandard and even dangerous products to enter the market, posing serious risks to public health.
The Federal Government must prioritise NAFDAC’s needs and take decisive action to support, equip, and empower this vital agency. NAFDAC is a cornerstone of public health in Nigeria and its health and economic well-being depend on its support. By providing financial, technological, and human resources, the government can strengthen the organisation’s capacity to protect Nigerians and contribute to national development. Tinubu’s administration must ensure that NAFDAC had the tools it needs to succeed. The lives of millions depend on it.

Continue Reading

Editorial

That NiMet’s Forecast

Published

on

The Nigerian Meteorological Agency’s ominous forecast of severe flooding in nine states as the rainy season draws nearer serves as a reminder of the country’s vulnerability to environmental disasters. With coastal states like Lagos, Ogun, Delta, and Rivers particularly at risk, the immediate need for proactive mitigation measures cannot be overstated.
This warning demands swift and decisive action from state governments, including the activation of urgent environmental interventions and a concerted effort to encourage citizens residing in flood-prone areas to relocate preemptively. Nigeria’s history is unfortunately punctuated by the devastating impacts of floods, a recurring crisis often compounded by inadequate infrastructure, haphazard urban planning, and a frustratingly slow response to impending threats.
The devastating 2024 floods serve as a stark and traumatic reminder of the catastrophic consequences of neglecting proactive flood management. With over 300 lives lost and more than 1.2 million people impacted across 31 states, the scale of the disaster underscores the urgent need for decisive action.
The UN has allocated $5 million to Nigeria to enhance flood preparedness, aiming to strengthen early warning systems, support emergency response initiatives, and provide relief to vulnerable communities. However, the ultimate responsibility for implementing and maintaining effective flood management strategies lies with Nigerian authorities at all levels, requiring a shift from reactive responses to comprehensive preventative measures.
Nigerian governors should take urgent measures, such as alerting residents in flood-prone areas and removing illegal structures blocking waterways to offer a glimmer of hope. The pervasive complacency across some states remains deeply concerning. This reactive approach, waiting for disaster to strike before responding, has repeatedly resulted in devastating consequences and underscores a critical need for a paradigm shift in flood management plans.
Specifically, in states like Rivers which is surrounded by water, a multi-pronged approach is needed, including strengthening infrastructure, enhancing drainage systems, promoting community engagement, and implementing sustainable land-use planning, while also considering nature-based solutions and early warning systems.
The cyclical nature of flooding in the country is exacerbated by human activities. The dangerous practice of constructing buildings on natural waterways and the rampant issue of indiscriminate waste disposal into drainage systems directly contribute to the problem. These actions obstruct the natural flow of water, leading to overflows and ultimately, the widespread flooding that plagues the nation.
The government’s inaction regarding waste management and environmental upkeep is a significant contributor to the looming environmental crisis. The absence of efficient waste disposal systems, coupled with the lack of environmental projects and proper maintenance of vital drainages and waterways, breeds unsanitary conditions and ecological damage.
This negligence carries a high price, manifesting in public health risks, degraded ecosystems, and increased vulnerability to natural disasters. To reverse the trajectory, a comprehensive strategy is paramount. Importantly, regulatory bodies need to step up their enforcement efforts, ensuring strict adherence to environmental regulations and imposing meaningful penalties on those who violate them.
Such measures are vital not only to curb pollution and irresponsible practices but also to send a clear message that environmental accountability will be enforced. There is a pressing need for the government to overhaul waste management systems, ensuring efficient collection and disposal to prevent blockages in drainage channels.
To mitigate future disasters, National Emergency Management Agency (NEMA) and the National Orientation Agency (NOA) are urged to launch comprehensive awareness campaigns to educate the public about environmental degradation risks and promote personal responsibility in flood prevention. This will empower citizens to adopt sustainable practices, reduce flood risks, and protect vulnerable communities.
The September floodings in Borno State, resulting in the collapse of the Alau Dam, highlighted Nigeria’s vulnerability to disasters. To mitigate the impact, the government and citizens should work together to demolish structures obstructing natural waterways, dredge rivers and canals, and equip emergency response units to act swiftly in case of a flood.
Long-term strategies must focus on sustainable urban planning, the construction of dams, and continuous public education on environmental stewardship. Crucially, transparency and accountability of ecological funds are paramount to ensure that allocated resources effectively address the challenges at hand. Nigeria should draw valuable lessons from countries like Denmark and the United States, which have successfully implemented flood mitigation plans.
Increased awareness efforts have already resulted in a noticeable reduction in flood-related incidents in subsequent years, underscoring the efficacy of effective measures. State emergency agencies must collaborate, sharing resources and information to create a unified front against flooding. By embracing a culture of preparedness and environmental consciousness, Nigeria can safeguard its communities and build resilience against future natural disasters.

Continue Reading

Trending