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Refinery: FG Will Source Forex from Dangote – Emefiele

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The Federal Government will soon start sourcing foreign exchange (forex) from Dangote Group, as soon as the latter’s refinery, petrochemicals and fertilizer projects come on stream.

This potential reversal of roles was disclosed by the Central Bank Governor, Mr. Godwin Emefiele, after he spent over four hours touring the ongoing Dangote Refinery, Petrochemicals, Fertilizer projects and Dangote deep-water jetty at the weekend.

Emefiele toured the project sites in the company of the President/CE of the Dangote Group, Aliko Dangote; Deputy Governor of the CBN, Aishah Ahmad; Group Managing Director, Dangote Industries Limited, Mr. Olakunle Alake; Group Executive Director of Dangote Industries, Mr. Devakumar Edwin; and the Managing Director of Guaranty Trust Bank, Mr. Segun Agbaje.

The CBN governor premised his comment on the huge forex earnings that are expected to accrue from the export of the petrochemical and fertilizer products from the Dangote refinery and fertilizer plants by the time the fertilizer plant begins operations in May this year, and the refinery takes off as planned in 2020.

Mr. Emefiele, who commended Aliko Dangote for the volume of work done on the Dangote projects since his last visit over two years ago, also enthused that the refinery and fertilizer projects would help Nigeria to create thousands of Jobs and check importation of fuel by the federal government; thereby saving government huge amounts of forex currently being spent on fuel import.

He added that about 55 to 60 per cent of Nigeria’s spending on foreign exchange for the importation of petroleum products and food items would be saved when the Dangote Refinery come on stream. Emefiele said one third of Nigeria’s spending on forex will also be retained when the Dangote Refinery is completed.

Emefiele described the Dangote Refinery as transformational project for Nigeria, which totally keys into the objectives of President Muhammadu Buhari on self-sufficiency in petroleum products, conservation of forex and diversification of the economy. “I am sure by that time, the CBN will be begging Dangote to sell its dollars to the bank,” he said.

He noted that the completion of the refinery would make Nigeria self-sufficient in the production of refined products and also make the country to be among the league of exporters of petroleum products.

Emefiele declared the CBN’s support to any company or individuals who are ready to invest in the transformation of the Nigeria economy. “We are ready to support in Naira and also ready to provide foreign exchange for any investor who is ready to support Nigeria’s transformational agenda.

“I use this opportunity to repeat that we are ready to support any individual like Aliko Dangote who is willing to invest in this country. We will continue to support companies that display the determination to support the CBN. I feel so delighted and I am happy this is happening in my own life-time and I am sure you are all so happy.”

Speaking also, President, Dangote Group, Aliko Dangote, said the project would definitely transform the Nigerian economy. “We have a couple of projects at hand and we will continue with these transformative projects. The biggest problem we have in Nigeria is that we currently import more than we produce like any other African countries. But, by the time we finish our fertilizer plant, Nigeria will be the largest exporter of fertilizer in Africa. We will also be the largest exporter of petrochemicals and the largest exporter of petroleum products in the whole of Africa. This is a major transformation.”

He said the 3 billion Standard Cubic Feet gas pipeline and other Dangote Projects are geared towards Nigeria’s economic transformation.

Dangote commended CBN for its moral support to the refinery project. “There are lots going on in Nigeria. We want the CBN to support us like what it did in cement sector, which made Nigeria not only self-sufficient in the production of cement, but it became an exporter of the product. Today, Nigeria will not even import cement because we no longer have capacity for importation of cement,” he added.

In a presentation made to the CBN governor, Group Executive Director at Dangote Industries Limited, Devakumar Edwin, disclosed that the company’s target is for a significant portion of Nigeria’s crude oil production to be refined domestically, rather than imported, thereby creating jobs within Nigeria, and bringing a halt to the current importation of refined petroleum product.

Edwin said the refinery is going to provide over 100,000 indirect employment through retail outlets. He said the refinery is designed to meet Euro V grade, which is the highest standard in the world, hence products can be exported to any part of the world.

“It will be well diversified and able to process Nigerian crude, African crude and crude from other parts of the world. In terms of evacuation routes, two crude oil single point mooring (SPM) buoys and three multi-product SPMs will be located within the Atlantic Ocean to transfer crude oil to a calling tanker.

“The 2-Line Dangote Fertilizer Complex, consisting of Ammonia and Urea plants, is conceived to be one of the world’s largest fertilizer plants with a total capacity of 3 Million Tonnes per Annum of Urea fertilizer. Therefore, the Dangote Fertilizer is positioned to bridge the gap between local demand and national capacity. Dangote Fertilizer Plants will produce Urea that will assist farmers boost their crop yields through easy access to fertilizer,” he added.

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London: Dr Orlando to Host Elite Cybersecurity Masterclass Amid Soaring Global Threats

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Dr. Orlando Olumide Odejide, Founder of Transformation College of Business and Technology, is set to headline a high-level cybersecurity masterclass in London on May 9, 2025—an event drawing sharp attention amid rising global digital threats.

With more than 20 years of cybersecurity leadership and frameworks currently safeguarding over $4 billion in assets across three continents, Dr. Odejide’s expertise arrives at a critical juncture. The digital battleground is escalating fast: global ransomware and extortion campaigns spiked by 72% in late 2024, contributing to over 5,000 documented attacks last year alone.

It’s not just the volume that’s increasing—it’s the complexity, and the cost. Cyber-related losses now dominate insurance claims, reshaping the risk landscape for corporations and governments alike.

One particularly sobering incident involved the UK’s healthcare sector, where a targeted attack on a pathology provider triggered major service disruptions. Across the corporate sphere, 43% of UK companies admitted to breaches in the past year. Yet even as threats grow, 68% of organisations say they lack the cybersecurity talent to respond effectively—leaving critical systems exposed and boards scrambling for solutions.

The regulatory noose is tightening, too. PCI DSS 4.0, now mandatory as of April 2024, brings sweeping new controls for payment security, with enforcement deadlines looming in March 2025. Meanwhile, the UK is preparing legislation that will accelerate breach reporting requirements and introduce stiff penalties for non-compliance.

Dr. Odejide’s London masterclass is tailored to this moment. Participants will receive hands-on training in ISO 27001 implementation, practical deployment of the updated NIST Cybersecurity Framework 2.0, and actionable strategies to navigate PCI DSS 4.0.

With just 35 seats available, demand is already high among FTSE 100 security heads, fintech compliance leads, and public sector cyber teams.

Far from a routine seminar, this session offers a tactical edge in a world where cyber warfare is no longer hypothetical. As Dr. Odejide prepares to take the stage, professionals charged with protecting sensitive systems are being offered more than a learning experience—it’s a survival toolkit. Applications close May 7.

Register now visit www.drorlando.net/london.

 

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TingoGPT Officially Launches in Los Angeles, Ushers in a New Era of AI-Powered Innovation, Inclusivity

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TingoGPT, a groundbreaking artificial intelligence platform, officially launches today in Los Angeles, setting a new standard for AI-driven solutions across a broad range of industries, applications and languages. Developed by a team headed by technology entrepreneur, Dozy Mmobuosi, TingoGPT is designed to revolutionize education, finance, business, and beyond with cutting-edge AI capabilities and linguistics integration for the benefit of global users.

Built with proprietary Large Language Models and state-of-the-art machine learning algorithms, TingoGPT offers unparalleled efficiency, automation, personalization and the deep integration of languages and dialects, including across a broad range of African vernaculars. The platform is engineered to cater to diverse applications, from AI-powered tutoring and enterprise automation to real-time business intelligence and customer engagement.

“TingoGPT represents the next frontier in artificial intelligence, one that is accessible, inclusive, intelligent, and built for real-world impact,” said Dozy Mmobuosi, Founder of Tingo AI. “Through today’s launch in Los Angeles, we are positioning TingoGPT at the heart of global innovation, ready to empower businesses and individuals with transformative AI solutions. In addition to its global application, I am proud of TingoGPT’s unparalleled deep integration of African languages to better serve the African continent, the African diaspora, and all who wish to do business with Africa.”

Adenle Adetunwase, CEO of Tingo AI, emphasized the platform’s broad impact: “TingoGPT is not just an AI assistant; it’s a revolution in how we interact with technology. From education to finance, we’re committed to driving efficiency and creating solutions that empower people worldwide.”

Pamilerun Adegoke, Head of Business at Tingo AI, added, “The business landscape is evolving rapidly, and TingoGPT is at the forefront of that transformation. We’re providing businesses with the tools they need to make data-driven decisions, automate operations, and enhance customer engagement like never before.”

A major highlight of TingoGPT is its deep integration of African languages, making it one of the most linguistically inclusive AI platforms available. The system supports Yoruba, Igbo, Swahili, Hausa, and other African languages, ensuring that users from diverse linguistic backgrounds can engage with AI in their native tongues. This initiative not only celebrates Africa’s rich linguistic heritage but also enhances accessibility for millions across the continent.

Additionally, TingoGPT is committed to advancing AI research by making its tools available to African scholars. By collaborating with universities and research institutions, the platform will leverage local expertise to refine its models, ensuring that they remain culturally and contextually relevant. This partnership aims to make AI more intelligent, inclusive, and capable of addressing Africa’s unique challenges.

The launch event, taking place at a premier venue in downtown Los Angeles, will feature live demonstrations of TingoGPT’s capabilities, panel discussions with industry leaders, and exclusive insights into the future of AI innovation. Attendees will experience firsthand how TingoGPT is poised to redefine AI-driven interactions, offering smarter, more intuitive responses and enhanced decision-making capabilities.

TingoGPT is part of Mmobuosi’s broader vision of leveraging AI to bridge gaps in education, economic growth, and digital transformation worldwide. With its advanced natural language processing and adaptive learning abilities, the platform is expected to drive efficiency and productivity in various sectors, including academia, fintech, healthcare, and e-commerce.

The launch marks a major milestone in AI development, reinforcing TingoGPT’s commitment to responsible and ethical AI deployment. As businesses and individuals increasingly rely on AI-driven technologies, TingoGPT stands out as a reliable, adaptive, and forward-thinking solution built to meet the needs of a rapidly evolving digital landscape.

For more information about TingoGPT and its capabilities, visit Tingomedia.ai or contact Odusola Opeyemi, Head of Marketing, Tingo AI

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Claims I Tele-guided Militants, Did Nothing About ‘Bombed’ Assembly Complex Untrue, Fubara Tells Tinubu, AGF

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Suspended Rivers State Governor, Siminalayi Fubara, has debunked allegations that he tele-guided attacks on oil installations by suspected militant groups in the state.

Also, the governor said that claims that he did nothing to rebuild the bombed State House of Assembly after he ordered its demolition are untrue.

The Governor explained he acted on expert advice before demolishing the complex, which was said to have integrity issues.

Fubara, in a statement issued in Port Harcourt by his Chief Press Secretary, Nelson Chukwudi, said it was important to straighten the records.

Recall that President Bola Tinubu, in his speech while declaring a state of emergency in Rivers, berated the Governor for doing nothing to prevent the attack on oil pipelines.

But the suspended Governor insisted that the allegations were untrue, saying the attacks were ignited by the comments of the Minister of the Federal Capital Territory, Nyesom Wike, who during his media chat described the Ijaw as minorities.

He also said that Ijaw leaders and groups had asked the FCT Minister to apologize for his disparaging comment about the Ijaw, but their call fell on deaf ears.

The statement reads in part, “Our attention has been drawn to a number of allegations claiming that the Governor of Rivers State, His Excellency, Sir Siminalayi Fubara, did nothing to dissuade criminal groups and militants from making good their threats to attack oil installations in the State.

“There was also another claim that after demolishing the Hallowed Chambers of the State House of Assembly on Moscow Road in Port Harcourt, the Governor did nothing to rebuild the facility.

“Ordinarily, we would have ignored the statements as mere results of lack of adequate information to the Presidency by those tasked with the responsibility of providing same to guide decision-making, but it has become imperative to set the records straight and correct the erroneous impression such narratives are creating in the minds of the Nigerian people.

“First, it is important to clarify that Governor Fubara has nothing to do with the threats by militants and also did not in any way “telegraph” the reported attacks on any oil facility in the State.

“It is on record that the reaction of stakeholders in the Niger Delta, especially elders, chiefs, women, Ijaw National Congress, its youth wing, IYC, as well as militants, among others, was triggered by remarks by the Minister of the Federal Capital Territory (FCT), Chief Nyesom Wike, in a live media chat, during which he dismissed Ijaws as a minority of the minorities and powerless in the Nigerian polity, saying that Ijaws are not the only ones that are militants and can blow up pipelines; that Ogonis, Ikwerres, and others are also militants and can as well blow up pipelines.

“Most of the Ijaw groups and leaders even demanded an apology from the FCT Minister, which he rebuffed.”

The governor continued, “Available public records show that Governor Fubara, on several occasions and at every forum, including all the project commissioning events as well as the handover of the AW139 Helicopter to the Nigerian Air Force, between March 3 and 13, 2025, made it clear that his administration was committed to the peace, security, and safety of oil facilities in the State.

“He often recalled his pivotal role as a member of the Presidential Committee on the Protection of Oil Installations in the Region, and repeatedly emphasized the need to protect oil pipelines and other facilities in the State, urging his supporters and the people of the State to avoid acts capable of destabilising the state or sabotaging the nation’s economy.

“Since inception as the Chief Executive of Rivers State, Governor Fubara has prioritized investment in upscaling the welfare and operational equipment of all personnel and arms of the Armed Forces and security agencies in the State by building livable office and residential accommodation for officers and men and donating vehicles, gunboats, helicopters, and other critical needs of the formations to enhance efficiency and effectiveness in the performance of their duties.

“His commitment to total peace and good governance in the State has contributed significantly to increased oil production and revenues for the country since May 29, 2023, as the continuous rise in the accruable revenue from the State into the Federation Account has shown over the months.”

The statement said, “It is on record that Governor Fubara acted based on professional advice and guidance.” The statement denied the claim that the governor acted with impunity to demolish the Hallowed Chambers of the State House of Assembly and did nothing to rebuild them 14 months later.

He added, “Let it be clarified that the former Governor and now FCT Minister repeatedly criticised the dilapidated and leaking Assembly Complex. During the commissioning of the Assembly Quarters in August 2022, he challenged the lawmakers to take responsibility for the poor state of the edifice, rejecting requests to rebuild it to ensure a conducive legislative environment for the lawmakers.

“It must be noted that immediately after the incident of October 29, 2023, and experts’ reports, the Government decided to heed the age-old demands of the lawmakers to rebuild the facility and promptly demolished the dilapidated structure to give way to a state-of-the-art Assembly Complex, which is now nearly 80 percent completed.

“It would be recalled that in the wake of the most peaceful and violence-free Local Government election in the State on the 5th October, 2024, the supporters of the FCT Minister violently attacked and razed facilities in some local government council secretariats without any reprisals from Governor Fubara’s supporters.

“It is also pertinent to draw the attention of security agencies to the fact that LGAs where those attacks were unleashed are the same places that have repeatedly witnessed violence perpetrated by detractors of the Governor Fubara-led administration.

“This is why the security agencies need to focus on the real purveyors of violence, critically evaluate these incidents, and diligently undertake investigations to unravel the elements behind the crimes and bring them to justice without let or hindrance.

“It is clearly untrue that somebody who has all the while preached peace and non-violence, even in the face of extreme provocations, would be ‘telegraphing attacks on oil pipelines’ and breaching the peace he has worked so hard to promote and sustain for the good of the people of the State.”

The Punch

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