![]() Something different? Try /r/InternetIsUgly. Beauty is in the eye of the beholder, but we have beheld a lot! This subreddit is highly curated and the moderators frequently must use their discretion and judgement as a team when enforcing our rules.Personal attacks, bigotry, fighting words and otherwise shitty behavior will be removed and may result in a ban. We enforce a standard of common decency and civility here. ![]() Includes Facebook, Google+, or otherwise.Įxtensions, software, or other content which requires a download to use. Websites that require a login or email address. Sites that pose a potential security risk. Online stores, paid services, or sites which serve only to sell a specific product. Sites that serve a political agenda or otherwise induce drama Static images, gifs, animations that serve the same purpose of gifs or collections of either. Something not unique (includes generators, blogs, tumblrs, etc.) Something everyone on the internet already knows about (e.g., Netflix, Khan Academy, etc.) What NOT to post (detailed explanations can be found here): CNN Sans ™ & © 2016 Cable News Network.Minimal or beautifully designed websites.Īwesome websites that offer a unique service. Market holidays and trading hours provided by Copp Clark Limited. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account The refinery size is seven times the size of Lagos’ Victoria Island, sitting on over 2000 hectares of land. Ghana’s President Nana Akufo-Ado, who was also present at the event, described the Dangote refinery as a “spectacular project” which “makes West Africa better and stronger.” Head of Nigeria’s Central Bank Godwin Emefiele said the refinery “is more than able to meet all of Nigeria’s domestic fuel consumption, given its processing capacity.”Įmefiele explained further that: “Nigeria can be self-sufficient in all products that we consume and at the same time export our excess output to the rest of the world.” The refinery sits inside the Lekki Free Zone, a 16,500-hectare free trade area, the masterplan for which also contains a proposed airport, a start-up community, and commercial and residential areas. “We have built a refinery with a capacity to process 650,000 barrels per day in a single train - which is the largest in the world … We decided on a plant designed with state-of-the-art technology and a scale in a capacity that will be a game-changer in Africa and the global market,” Dangote added. Nigeria's chaotic banknote switch ruled invalid by top court Nigerians queue for new banknotes at an ATM in the capital Abuja, on January 2, 2023. “There will be constant availability of high-quality fuels for our transportation sector, the refinery will also make available to our industries vital raw materials for a wide range of manufacturing,” said Dangote, who partly financed the construction of the refinery.Īround 50% of the funds used to build the refinery came from Dangote’s equity investment while the other half came from debt finance from banks such as Access and Zenith banks. The Dangote refinery is significant because it plans to solve these problems by doubling the country’s refining capacity, as well as increasing demand for fuel domestically and generating foreign exchange for the country through exports. Nigeria’s lack of refining capacity presents many challenges such as spending billions of dollars on imports yearly and exposure to disruption of domestic fuel supply. Despite being an oil-producing nation and one of Africa’s largest oil producers, Nigeria lacks the capacity to refine its oil.Ī large number of these products that exist in the West African country are imported from other nations like India, Belgium, UAE, and the Netherlands.īetween 20, the cost of importing refined petroleum products exceeded the exports by $58.5 billion, according to OPEC, a group of major oil producers. The refinery is expected to solve some of Nigeria’s petroleum issues. TO GO WITH "Nigeria's first deep sea port to attract revenues worth 201 billion USD: minister" Xinhua/ShutterstockĬonstruction completed on Nigeria's $1.5 billion Lekki Deep Sea Port 19, 2021 shows the Lekki Deep Sea Port under construction in Lagos, Nigeria.
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