News
Dangote Signs $400 Million Equipment Deal To Fast Track Refinery Expansion
- /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://naijablitznews.com/wp-content/uploads/2024/05/aliko-dangote.jpg&description=Dangote Signs $400 Million Equipment Deal To Fast Track Refinery Expansion', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/naijuinz/public_html/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 72
https://naijablitznews.com/wp-content/uploads/2024/05/aliko-dangote.jpg&description=Dangote Signs $400 Million Equipment Deal To Fast Track Refinery Expansion', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
Dangote Group has signed a $400 million construction equipment agreement with XCMG Construction Machinery Co., Ltd., one of China’s leading manufacturers of construction machinery, in a move set to accelerate the expansion of the Dangote Petroleum Refinery & Petrochemicals from 650,000 barrels per day to 1.4 million barrels per day, positioning it to become the largest refinery in the world.
The agreement will enable the Group to acquire a wide range of advanced construction equipment to support ongoing and forthcoming projects across refining, petrochemicals, agriculture, and large-scale infrastructure development.
The new equipment will complement existing assets deployed for the refinery expansion, which is expected to be completed within three years.
Beyond refining, the expansion programme will see polypropylene production increase from 900,000 metric tonnes per annum to 2.4 million metric tonnes per annum.
Urea capacity in Nigeria will be tripled from 3 million to 9 million metric tonnes per annum, in addition to the 3 million metric tonnes per annum capacity in Ethiopia, strengthening the Group’s position as the largest urea producer globally.
Production capacity for Linear Alkyl Benzene (LAB) will also be increased to 400,000 metric tonnes per annum, positioning the Group as the largest producer in Africa and strengthening supply to the detergent and cleaning agents manufacturing industry.
Additional base oil production capacity also forms part of the broader expansion programme.
In a statement, the Group described the agreement as a strategic investment aimed at deepening its construction footprint and accelerating its ambition to build a $100 billion enterprise by 2030.
“The additional equipment we are acquiring under this partnership will significantly enhance execution across our projects. With this investment, we are positioning ourselves to become the number one construction company in the world,” the statement said.
Dangote Group is currently accelerating expansion and regional market development as it advances toward its long-term vision of building a $100 billion enterprise by 2030.
The Chairman of the Senate Committee on Inter-Parliamentary Affairs, Senator Aliyu Wadada has promised to revive the committee’s activities after acknowledging concerns over its prolonged inactivity.
Wadada spoke on Thursday at the end of the committee’s meeting in Abuja.
Specifically, the chairman admitted that the committee had been underutilised, noting that it had met only once in the last three years.
He, however, said issues responsible for the situation had been identified during a closed-door session and would be addressed.
“Of course I feel concerned about it, but when we got into the details in a closed-door meeting, we got to know where the problems are, and they will all be taken care of. The committee will be as active as it should always be,” he said.
Commenting further, the chairman said the committee would focus on its core mandate of promoting and strengthening legislative relations between Nigeria’s National Assembly and parliamentary bodies across the world.
According to him, the committee will deepen engagement with regional and international legislative institutions, including the ECOWAS Parliament, the Pan-African Parliament, the Inter-Parliamentary Union (IPU), and other parliamentary organisations.
He disclosed that a new work plan had already been developed to guide the committee’s activities.
He added: “The direction is basically around the responsibilities of the committee, which is to promote and deepen legislative relationship within Nigeria and with other legislative bodies around the world”.
The chairman added that the committee’s first major activity would be a courtesy visit to the Speaker of the ECOWAS Parliament in Nigeria as part of efforts to strengthen inter-parliamentary cooperation.
SINL NIgeria Online reports that Senator Wadada assured that the public would be kept informed of the committee’s activities as the new work plan is implemented.
The Minister of Defence, Christopher Musa, has revealed that the minimum monthly salary of Nigerian soldiers has increased to N100,000 after the Federal Government reviewed their welfare package.
Musa made the disclosure during an interview with News Central ahead of his appearance on the NC Exclusive programme.
He said the adjustment was part of efforts by the government to improve the living conditions of military personnel.
Executive Branch
The former Chief of Defence Staff, however, said the country’s defence sector still requires more funding despite the improvement in soldiers’ earnings and welfare.
He stated that the current defence budget remains inadequate, adding that more resources are needed to effectively support the armed forces and their operations.
Musa explained that soldiers who previously earned about N49,000 monthly now receive at least N100,000 following the salary review carried out by the government.
The minister also called for tougher punishment for kidnappers, saying stronger measures are needed to reduce the increasing cases of abduction across Nigeria.
Remodelled Abuja City Gate To Be Commissioned Today, Thursday, July 9
#ProjectsFCT2026
#FCT31DaysCommissioning
Senator Wadada promises to deepen legislative ties, stop inactivity
Just in: FG jerks up salaries soldiers to N100k monthly
DAY 22 of Projects Commissioning in the FCT
-
News23 hours agoVideo: DAY 22 of Projects Commissioning in the FCT
-
News23 hours agoTinubu Sends Two Key Bills to Reps, Rejects Two National Assembly Amendments
-
News23 hours agoOkowa at 67: Ibegbulem hails former Governor as exceptional leader, patriot
-
News17 hours ago‘Serial liar’, Presidency debunks Obi’s death threat claim
-
News23 hours agoCity Boy Movement Poised to Ensure Maximum Victory for Tinubu in 2027 – Akpabio
-
News17 hours agoDefence minister orders troops to shoot bandits on sight
-
News17 hours agoSenate approves customs’ N11.07tn 2026 revenue target
-
News17 hours agoEFCC Arraigns Ex-Port Harcourt Refinery MD over Money-laundering Allegations