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Dangote trains young engineers to manage oil refinery

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Dangote Oil Refinery is preparing young Nigerian graduates to manage its 650,000 barrels per day single train refinery when it becomes operational in 2022.

Already, the company has trained several Nigerian engineers in some of the world’s biggest refineries in India and other parts of the world to enable them to gain first-hand experience on how to manage such a big refinery.

President of the Dangote Group, Aliko Dangote, announced this at the weekend during the tour of Dangote Refinery in Lagos State by Central Bank of Nigeria (CBN) Governor Godwin Emefiele.

The industrialist affirmed that the country is blessed with great talents that can run the big refinery, if given the necessary encouragement.

According to him, the outbreak of COVID-19 in 2020, which forced many expatriates out of the construction site, made it possible for the company to identify great talents within Nigeria.

Dangote said, “One thing that gladdens my heart is the abundance of young Nigerians we have trained to take over the operation of the Dangote Refinery. These young Nigerians are the ones that are going to run the refinery when it becomes operational.

“We want a situation whereby the operation of the refinery will be the sole responsibility of Nigerian graduates. We can start the process by bringing in team leaders to keep giving them that training they require to run a world-class refinery.

“However, we will ensure that Nigerian engineers, welders and others are the ones running the refinery. We have created that capacity, human capacity, equipment capacity and every other thing to ensure the successful operation of the refinery by Nigerian engineers.”

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NCC, telecom firms agree on 5G deployment

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All appears set for the deployment of 5G as the Nigerian Communications Commission and major telecoms companies have agreed on the guidelines.
The instruments are the Annual Operating Levy Regulations and the Frequency Spectrum (fees and pricing) Regulations.
The agreement came after a public inquiry organised by the NCC on the two key instruments at its headquarters in Abuja on Thursday, which was attended by Executive Vice Chairman of NCC, Prof Umar Danbatta and representatives of major telecoms companies such as Airtel Nigeria, MTN Nigeria, Glo Mobile Network, 9Mobile, and other stakeholders.

The 5G wireless technology is meant to deliver higher multi-Gbps peak data speeds, ultra low latency, more reliability, massive network capacity, increased availability, and a more uniform user experience to more users.

While Airtel Nigeria agreed with key issues regarding the instruments, MTN Nigeria pleaded for extension of timeframe.
But Danbatta assured all stakeholders that frequency spectrum would be assigned and managed in a way that ensures fair pricing and efficient deployment of attendant services.
According to him, the two instruments were not only tailored to meet the challenges of the industry but ensure that all stakeholders are carried along as the country prepares for deployment of 5G technology.
Danbatta said, “More importantly, this Public Inquiry is precursor to the Commission’s current drive to ensure efficiency in spectrum management and the unveiing of next generation services through varied enablers.
“It is in that regard that the Commission issued a Spectrum Trading Guidelines in 2018, to ensure frequency spectrum is readily available to licensees through an effective process.
“Furthermore, the commission has commenced the process for deployment of Fifth Generation (5G) Technology in Nigeria and is driving the provision of such ubiquitous services on making Frequeney Spectrum available to its licensees.
“The efficacy and reliability of these initiatives will be hinged on proper market valuation of the frequency spectrum and fair assessment of levies.”

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Inflow of foreign capital drops by 54% to $875.62m

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The total value of capital importation into Nigeria dropped to $875.62 million in the second quarter (Q2) of 2021, the National Bureau of Statistics has said.
According to the NBS, the figure represents a 54.06 per cent drop compared to the $1.91 billion in the first quarter (Q1) of 2021.

It stated this in its latest report titled, ‘Nigerian capital importation (Q1 & Q2 2021)’.
In 2020, Nigeria’s capital importation plunged by 59.65 per cent at $9.68 billion – the lowest level in four years.

“The largest amount of capital importation by type was received through portfolio investment, which accounted for 62.97% ($551.37m) of total capital importation,” the report stated.
“It is followed by other investments, which accounted for 28.13% ($246.27m) of total capital imported and Foreign Direct Investment (FDI), which accounted for 8.90% ($77.97m) of total capital imported in Q2 2021.”
Capital importation into the banking industry dominated in Q2 reaching a total of $296.51 million, followed by financing with $205.88 million and shares with $194.59 million.
In both Q1 and Q2, brewing, fishing, hotels, tanning and weaving sectors had no record of capital imports, the report added.
Similarly, only Lagos, Ogun and the federal capital territory (FCT) recorded capital inflows across Nigeria in Q2.
Lagos emerged as the top destination of capital investment in the second quarter with $780.06 million, Abuja had $95.26 million, while Ogun had $0.3 million.
By banks, foreign firms emerged as the top capital investment in Nigeria in Q2. Stanbic IBTC recorded $310.21 million, Standard Chartered was second with $282.37 million, then Citibank ($94.15 million).
The report also stated that “the United Kingdom emerged as the top source of capital investment in Nigeria in Q2 2021 with $310.26m.”

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Nigerians experience another nationwide blackout as grid collapses

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Most parts of Nigeria experienced total blackout on Wednesday after a national grid collapse, which electricity distribution companies confirmed in separate notices to their customers.
In a public notice sent out to consumers, the Abuja Electricity Distribution Company said the collapse occurred at 12.26pm but did not say how long it would last.
The notice read, “Dear Esteemed Customers,
Following a grid system outage that occurred at about 12:26 pm today, we have been unable to service our customers in Niger, Kogi and Nasarawa State as well as a significant part of the Federal Capital Territory.
“At the moment, only 20MW has been allocated to AEDC as against the over 400MW that they have been receiving in recent times.
“We urge our customers to be patient and promise that the power supply will be restored to our franchise area as soon as there is a significant improvement in our
allocation.”
In a similar notice, Eko Disco said, “Dear valued customer, we regret to inform you of a system collapse on the National Grid that’s causing outages across our network.
“We are working with our TCN partners to restore supply as soon as possible. Please bear with us.”
Ikeja Electric also sent out a message that read in part, “The current power outage is due to a nationwide system collapse that occurred at about 12:26hrs.
“Power supply will be restored gradually to various parts of the network as soon as the grid is stabilised. Kindly bear with us.”

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