Report: Amid Nigeria’s Underproduction, Dangote Refinery Orders 24m Barrels of US Crude Oil Commences export of its refined products to European market Emmanuel Addeh in Abuja and Peter Uzoho in Lagos
Nigeria’s new Dangote mega refinery near Lagos is seeking to buy millions of barrels of
US crude over the next year as it ramps up processing rates, a sign of the challenges that Africa’s
largest producer faces in lifting its own oil output. The plant, built by Africa’s
richest man Aliko Dangote, issued a so-called term tender for the purchase of 2 million barrels a
month of West Texas Intermediate Continued on page 5
Emirates Resumes Flight to Nigeria October 1... Page 6 Friday, May 17, 2024 Vol 29. No 10628. Price: N400
www.thisdaylive.com TR
UT H
& RE A S O
N
Tinubu Hosts Senegalese President, Faye Deji Elumoye in Abuja President Bola Ahmed Tinubu, yesterday, hosted the new Senegalese President, Bassirou Visiting new Senegalese President, Bassirou Diomaye Faye (L) with President Bola Ahmed Tinubu, during Faye's first visit to the Presidential Villa, Abuja.... yesterday
GODWIN OMOIGUI
Continued on page 35
Wale Edun: No Attempt to Illegally Use Pension Funds Says FG will be guided by rules Organised labour warns against tampering with funds FAAC shares N1.2tn from N2.192tn gross revenue Naira slides to N1533/$1 at official market, stable at N1,540/$1, parallel market Ndubuisi Francis, Deji Elumoye, Onyebuchi Ezigbo in Abuja and Nume Ekeghe in Lagos Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday, clarified that the federal government had no intention of illegally tapping into the N20 trillion pension funds for infrastructure development.
The clarification followed media reports quoting the minister as saying, after the last Federal Executive Council (FEC) meeting, that the federal government was considering tapping into the pension funds to drive investment in growth areas, including infrastructure and housing. Continued on page 5
AFRICA’S ECONOMIC TRANSFORMATION GETS $300M BOOST... President Paul Kagame, President of the Republic of Rwanda and Aigboje Aig-Imoukhuede, Chairman, Access Holdings Plc, at the Africa CEO Forum 2024 in Kigali where Access Bank Group, Aig-Imoukhuede Foundation pledged $300m to transform Africa’s Economic Landscape…yesterday