Thursday, August 22, 2024

Nigeria's Dangote refinery set to start gasoline output in September

Nigeria's 650,000-barrel-per-day Dangote refinery is undergoing test runs for gasoline production, with full operation expected by mid-September, according to a note by industry monitor IIR Energy.

The $20-billion Dangote refinery, built by Africa's richest man, Aliko Dangote, on the outskirts of Lagos, began operations in January after years of delays.

Dangote, which has so far only produced diesel and other distillate fuels, had earlier said that gasoline deliveries from the refinery would start in July. Before that the refinery had aimed to start making the motor fuel by May.

It is possible that there could be further extensions, IIR said in a note to clients.

Emails to Dangote were not delivered and calls did not connect

Once fully operational, the refinery is set to upend the Europe-to-Africa fuel trade and reduce Nigeria's reliance on imported refined products. 

By Shariq Khan, Reuters

Is Nigeria, finally ready for McDonald’s?

 

 

 

 

 

 

 

From Roswell to Guantanamo Bay, no matter where you are in the word, the famous Golden Arches often aren’t far away. However, McDonald's Africa is yet to be fully established.

Worldwide, there are 36,899 McDonald’s, stretching across 120 countries. When you map out where McDonald’s aren't, however, it shows one continent in particular is lacking the Big Mac: Africa.

The biggest obstacle blocking McDonald’s from Nigeria is a lack of adequate supply chains. Geographically, Nigeria lies too far from South Africa, Egypt or Morocco to simply expand existing supply chains.

Countries with no existing McDonald’s outlets are highlighted here in red.


 



 

 

 

 

 

Although Africa is home to over 1.2bn people, McDonald’s is present in just four African countries: Morocco, Egypt, South Africa and Mauritius.

Combined, these markets contain a paltry 387 McDonald’s. To give a better perspective, there are 393 McDonald’s outlets in Mexico alone.

As core Western markets continue to stagnate, fast food companies should turn their attention to the largely unsaturated African markets. And where better than the economic powerhouse, Nigeria.

In 2015, McDonald’s South Africa CEO, Greg Solomon, claimed that “it was not about if, but when” the brand would be entering Nigeria. However, news on the subject has since all but dried up.

Over half of global population growth will occur in Africa between now and 2050, according to a recent PwC report with Nigeria’s population alone expected to reach around 400m in 2050, which would make it the third most populous nation in the world.

Economically, the Nigerian market is also becoming increasingly attractive to fast food chains.

Nigeria’s GDP per capita has risen from $379.12 at the turn of the Millennium, to $2,177.99 in 2016, while 46 percent of people in Nigeria say their disposable incomes are increasing, according to a recent GlobalData survey.

The World Bank’s Ease of Doing Business index for 2018 also saw the country rise to 145th, up from 169th in 2017.

The McDonald’s brand -- due to being a US brand -- would likely be viewed positively compared to domestic fast food chains. GlobalData research found 48 percent of Nigerian consumers associate the US with high quality food and drink, higher than both Europe (34 percent) and Nigeria itself (30 percent).

"Is Africa, and Nigeria, finally ready for McDonald’s?" was originally created and published by Verdict, a GlobalData owned brand.

Global Data

Nigeria deploys armed rangers to protect farmers

As attacks on farmers intensified across Nigeria, Fatima Bello from Sokoto abandoned dry season farming.

The smallholder farmer of rice, millet and beans shared her experience of farming under constant threat.

'During the dry season last year, I did not even plant anything because of this issue of insecurity,' she said. 'What I would have produced that I would have used for my family and also take to the market, other people are going to benefit from what I will sell. They will buy, but now it means if I don't produce anything, then it means I will not have been able to have something to use.'

Violent attacks, land levies and kidnappings have forced many farmers to abandon their lands, driving up food inflation. In response, the government declared a state of emergency on food security in 2023 and recently deployed 10,000 agro rangers across 19 states and the Federal Capital Territory. Their mission is to safeguard farmland and mediate conflicts, especially in areas hit by farmer-herder clashes.

Bello sees this as a positive step.

'I think it is welcomed development,' she said. 'It has just been started, so we need to see, maybe take some time. Then we will be able to know the impact.'

Affirming the rangers' readiness to restore safety across the food belt, Babawale Afolabi, a spokesperson for the Nigeria Security and Civil Defense Corps, says all hands are on deck.

'Our operatives have been on top of the game since the commissioning of the agro rangers squad nationwide. ... The agro ranger is a well-seasoned, trained and formidable special force, and we thank the federal government for providing necessary logistics so far,' he said.

'We have increased and upskilled our intelligent base so we can tackle head-on rising challenges,' he said. 'We are all for engaging the communities to create awareness on how to give credible information.'

Plateau, Zamfara, Niger and other states considered hot zones for farmer insecurity are supporting the squad with logistics.

While praising the government's intervention, farmer and agricultural economist Retson Tedheke stresses the need for more personnel.

'It's a very good thing,' he said, 'but 10,000 is a very small number. If you ask me, there are over 150,000 polling units. Multiply that by five, that should be the agro rangers we have. And not just in the agro ranger level - if you are sending five agro rangers in a particular location, send five extension workers.'

Tedheke warns that addressing the root causes of insecurity in farming communities requires sustained effort.

'Nigerian farmers should be getting loans at between 5% and 7%,' he said, 'because we are producing food. ... Food security is a major component of political development, governmental development and leadership development."

The U.N. Food and Agriculture Organization says that 22 million Nigerians could face food insecurity in 2024, with projections rising to 82 million by 2030.

VOA 

Related stories: Video - Bandits force farming communities in Nigeria to pay hefty levies

Video - Farmers in Nigeria plead with government over insecurity

Fees Raised For Nigerian Passports, Diaspora Unchanged

The Nigerian Immigration Service (NIS) has announced a new fee regime for the Nigerian Passport.

The new price regime which will take effect on September 1, will not affect those applying for the travel document outside the country.

The NIS says the change in fee was done “to maintain the quality and integrity of the Nigerian passport”.

A statement by NIS spokesman, Kenneth Udo, a Deputy Comptroller of Immigration (DCI), said: “Based on the review, 32-page Passport booklet with five-year validity previously charged at thirty-five thousand naira (N35,000.00) will now be fifty thousand naira (N50,000.00) only; while the 64-page passport booklet with 10-year validity which was seventy thousand naira (N70,000.00) will be one hundred thousand naira (N100,000.00) only. However, the fees remain unchanged in the diaspora.”

“While the Nigeria Immigration Service regrets any inconvenience this increase might cause prospective applicants; it assured Nigerians of unwavering commitment to transparency and quality service delivery at all times”.

TVC News

Wednesday, August 21, 2024

Video - Nigerian business owners count losses following anti-government rallies



Demonstrators took to the streets in early August to voice their dissatisfaction with perceived poor governance and to demand the reversal of certain policies. The protests, which at times threatened to become violent, led many people to stay indoors, significantly impacting local businesses.

CGTN

Related story: Nigeria holds youth summit on national security after protests