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Dangote refinery builds eight more tanks for imported crude

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The Dangote Petroleum Refinery is building eight more tanks in its bid to have enough storage for imported crude oil.

A report by Africa Report has it that the refinery is ramping up its storage capacity by 6.29 million barrels, equivalent to 1 billion litres.

The report stated that the $20bn refinery is planning to stockpile imported crude oil as local supplies became unreliable.

Officials of the refinery were quoted as saying that low crude supply from the Nigerian National Petroleum Company Limited “is driving import dependence.”

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The building of eight additional tanks will see crude storage capacity at the $20bn refinery jump by 41.67 per cent to 3.4 billion litres.

“Importing crude from other countries instead of buying locally means that our crude stockpiles will have to be higher,” the Vice President in charge of oil and gas business at Dangote Industries, Devakumar Edwin, was quoted as having said.

“So we have started building eight additional crude tanks to hold a billion litres, over and above our original storage capacity. Four of them are nearing completion,” Edwin added.

The refinery currently has 20 crude storage tanks with a capacity of 120 million litres each, totalling 2.4 billion litres.

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Its refined product tanks have a total capacity of 2.34 billion litres.

Dangote began producing diesel and aviation fuel in January 2024, and petrol in September, with products supplied to the domestic market and exported to several countries.

Edwin described the supply of crude oil from the NNPC to the Dangote refinery as “still very low”.

Nigeria, which is Africa’s biggest oil producer, was importing its fuels until last year when the Dangote refinery came on stream.

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Today, the NNPC’s Warri and Port Harcourt refineries have resumed operations, indicating that the company would have to supply crude to the two facilities aside from the percentage committed to servicing its loans.

Nigeria has continued to contend with underinvestment and production outages caused largely by theft and pipeline vandalism, which have seen it lose its top spot in Africa several times in recent years.

However, the Nigerian Upstream Petroleum Regulatory Commission said last month that crude is 1.45 million barrels per day as of November, 99 per cent of its 1.5mbpd OPEC quota.

The PUNCH reports that Dangote’s decision to expand storage facilities for imported crude could be an indication that the naira-for-crude deal ordered by President Bola Tinubu might be fading out gradually.

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Before President Bola Tinubu ordered the sale of crude to Dangote refinery in August, the facility had battled months of crude shortage.

The President of the Dangote Group, Alhaji Aliko Dangote, accused international oil companies of plans to sabotage the refinery by refusing to supply crude oil.

On July 29, the Federal Executive Council approved a proposal by Tinubu for the NNPC to sell crude oil to local refineries in naira.

It approved that the 450,000 barrels meant for domestic consumption be offered in naira to the refineries, using the Dangote refinery as a pilot.

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The implementation of the initiative started on 1 October, with the NNPC expected to commence the supply of about 385,000 bpd of crude oil to the Dangote refinery to be paid for in naira.

Aliko Dangote, president of Dangote Industries, said in December that the naira-for-crude deal has led to a reduction in prices of petroleum products in the country

At the moment, the Dangote refinery is ramping up production as its petrol gathers momentum among Nigerian vehicle owners.

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NELFUND’s disbursements to students hit N53b

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More than N53 billion has been disbursed by the Nigerian Student Loan Fund (NELFUND) to students in upkeep institutional fees.

A breakdown of the N53, 036,673,649.40 disbursed under the Student Loan scheme showed that the agency paid N23, 173,240.000.00 as upkeep allowance to beneficiaries and N29, 863,433,649.40 as institutional fees.

Details of the disbursement were obtained from the X handle (formerly Twitter) of NELFUND as of yesterday.

According to NELFUND, 497,717 students have applied for the loan while 561,174 have registered for the loan.

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It added that 88 per cent of registrants have successfully applied for the loan.

In its projection, the agency said it hopes to disburse N112,153,680,000 as student upkeep allowance and pay N52,873,195,826 as institutional fees totalling N165,026,607,326 (N165,026,875,826 as calculated by our reporter).

Some beneficiaries of the scheme have however appealed to NELFUND for the payment of their upkeep allowances.

According to them, since they changed/updated their bank details, they have not received the upkeep allowance for close to eight months.

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Responding, Director, Strategic Communications, NELFUND, Oseyemi Oluwatuyi said: “The issue with that is a bit complex. It’s a security issue.

“Anybody can come and change account details.”

What we try to do is do a lot of checks to be sure it’s safe. This is being done for the sake of the students themselves. But it will be resolved soon.”

The Student Loan scheme was launched by President Bola Ahmed Tinubu on July 17 after signing the Bill on April 3, last year.

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According to the law, repayment will commence two years after the completion of the National Youth Service Corps (NYSC) programme.

The ambitious programme will be funded with one per cent of the total annual collectable revenue by the Federal Inland Revenue Service (FIRS).

It is one of the key initiatives of the Tinubu administration.

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Flights resume as NiMET unions suspend strike

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Air Peace, Nigeria’s largest carrier, has announced that it will fully resume flight operations on Friday, April 25, 2025, following the suspension of the industrial action by workers and unions of the Nigerian Meteorological Agency.

In a statement released on Thursday by the Head of Corporate Communications at Air Peace, Ejike Ndiulo, the airline appreciated its customers and stakeholders for their support during the disruption.

According to the statement, “Air Peace is pleased to announce the resumption of all flight operations on Friday, April 25, 2025, following the suspension of the industrial action by the NIMET and other unions in the aviation sector.

“We sincerely thank you for your patience, understanding, and unwavering support throughout this challenging period. Your resilience and trust in our brand mean the world to us.”

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The airline also lauded the intervention of the Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, stating that his leadership was instrumental in restoring calm and resolving the impasse.

“We commend the active and decisive intervention of the Minister of Aviation and Aerospace Development, Festus Keyamo, whose leadership and commitment were pivotal in resolving the impasse and restoring normalcy within the aviation industry,” Ndiulo stated.

The airline added, “Keyamo’s swift engagement with all stakeholders, his transparent approach to dialogue, and his unwavering dedication to the stability and progress of the aviation sector reflect a deep understanding of the critical role aviation plays in national development.”

Recall that the airline had previously announced the suspension of flights in a statement on Wednesday.

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This affected operations on Wednesday and Thursday. Air Peace communicated these disruptions to passengers through multiple channels and expressed sincere apologies for any inconvenience caused.

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Over 26,000 Lagos students failed 2024 WASSCE despite govt paying over N1.5bn WAEC fees

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The Lagos State Government has disclosed that 26,592 public school students failed the 2024 West African Senior School Certificate Examination, raising alarm across the state’s education sector.

The Commissioner for Basic and Secondary Education, Jamiu Alli-Balogun, stated this during a ministerial press briefing in Alausa, Ikeja, on Thursday.

He said, “45.7 per cent of the 58,188 students from public schools who sat for the exams did not pass.”.

This failure rate comes despite the state government’s significant financial backing of N1.577bn paid on behalf of the students to cover WAEC fees.

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“Suffice to say that the sum of N1,577,794,000 was paid by the state government as examination fees for 58,188 students who were captured for the year 2024 WASSCE,” Alli-Balogun announced.

In a bid to tighten accountability and avoid wastage, the commissioner disclosed that biometric and image registration was carried out to accurately determine eligible students for government sponsorship for the 2025 WASSCE.

“The exercise successfully captured and registered 56,134 students as bona fide beneficiaries of the Lagos state government’s sponsorship for the examination,” he added.

The government, however, rolled out a bold educational intervention – the Eko Learners’ Support Programme for WASSCE and NECO candidates – aimed at reversing the tide of academic failure in the state’s public schools.

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Launched on January 14, 2025, the initiative is part of a broader commitment by the Ministry of Basic and Secondary Education to equip Lagos students with tools for success.

“This forward-thinking initiative was designed to support and empower young scholars in attestation of the ministry’s commitment to advancing interest and management of the educational system in Lagos State,” Alli-Balogun stated.

He said with a vision to broadcast 320 lessons across 10 key subjects, including English, Mathematics, Physics, Chemistry, Biology, Economics, Government, History, Literature-in-English, and Yoruba, the programme aims to bring world-class tutoring directly into students’ homes.

The commissioner said each 30-minute episode would air on Lagos Television and be archived across major platforms like YouTube, Facebook, Instagram, and X (formerly Twitter), creating a digital learning library accessible to every student.

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“It is a supportive eco-system that fosters academic achievement, creativity, critical thinking… every student deserves the opportunity to attain their full potential, regardless of their background or socio-economic status,” the commissioner stated.

Alli-Balogun urged students, especially those in boarding schools, to seize the opportunity.

“It is on this note that I urge and encourage students, more importantly, students in our boarding schools, to take full advantage of this initiative, as education is a lifelong journey,” he said.

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