The biggest financial body, International Monetary Fund, IMF, has projected that Dangote’s refinery can salvage Nigeria from an economic downturn when it begins operations by 2022.
During its latest report, the international financial body opines that the refinery of the richest man in Africa can help improve the country’s economic state.
According to the report, Dangote’s refinery is “the potential to catalyze domestic crude oil production and boost GDP growth.”
The IMF made this announcement in its article V, released on Monday, detailing Nigeria’s economy.
Part of the article reads, “On the upside, the Dangote refinery if commencing production in 2022 as planned, could meet the full demand for domestic consumption of refined petroleum products – which are almost all imported at present – thereby improving the CA balance.
“With crude oil for local refining not subject to the OPEC quota, the refinery also has the potential to catalyze domestic crude oil production and boost GDP growth.”
Aside from the IMF, many experts have also predicted that Dangote’s refinery, which would cost an estimate of $15 billion to complete, would save Nigeria huge losses from foreign exchange in importing oil.
Dangote’s 650,000 capacity refinery is argued to be one of the world’s largest refinery. It’s projected to help Nigeria end its importation of oil, costing the country about $7 billion yearly and also export to neighboring countries.
Billionaire daughter and Nigerian disc jockey, Florence Ifeoluwa Otedola, better known as DJ Cuppy, who sued Afeare Israel also known as Israel DMW, driver to Davido for “libel and defamation also hits with a cease and desist insisting he makes a public apology.
Kemi Filani News recalls that Israel DMW in an Instagram post had revealed why popular singer, Zlatan Ibile, blocked DJ Cuppy on social media, describing the disc jockey as a ‘full fake friend.’
Reacting to the development, Cuppy denied owing Zlatan any money regarding their collaboration #Gelato. She further threatened Davido’s driver with a lawsuit.
In the lawsuit dated 10th February, Dj Cuppy demands that he publicly apologizes to the celebrity DJ over his claims that Zlatan did not make money off their...
‘You are mentally not okay’ Ubi Franklin’s 4th Babymama and Victoria Inyama fight dirty over advice to current and intending counterparts
Ubi Franklin's 4th Babymama Sandra Iheuwa recently engaged in a war of words with Nollywood actress Victoria Inyama.
This comes after Sandra Iheuwa took to her social media page to advise current and intending counterparts on securing a good life for the child/children to have brought into the world.
According to Ubi's 4th babymama, there is more to life than dressing up to slay on social media.
Reacting, Victoria Inyama slammed Sandra, stating she is advising herself as different categories of babymama were not specified in her post.
Victoria Inyama wrote: My dear @sandraiheuwa, As you stated single moms and baby mama makes it very clear that you are actually advising yourself... bear in mind that most single mothers are widows who are...
Leader and founder of the Breast Cancer Association of Nigeria (BRECAN), Betty Akeredolu, blames the religious system for the high rate of cancer death in the nation.
The wife to the sitting Governor of Ondo state said this while speaking on Wednesday at the Inter-School Arts Competition for secondary school students in Ibadan, Oyo State.
Betty opined that most women die of ignorance because they approach religious organizations like church and mosque for miracles to cure cancer and other diseases.
“Our women present their cases late because they keep going to churches. The man and woman of God will run away immediately when they notice the breast gets rotten.