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Dangote, NNPC Spat: Shareholders Condemn Demarketing of Dangote Refinery

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Shareholders have strongly defended Africa’s foremost industrialist, Aliko Dangote over the on-going petroleum product supply controversies, while criticising the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, for deliberate attempt at demarketing Dangote Petroleum Refinery & Petrochemicals.

The shareholders under the aegis of Pragmatic Shareholders Association of Nigeria (PSAN) in a statement signed by its National Coordinator, Mrs. Bisi Bakare, expressed dismay over the recent allegations from the petroleum regulatory agency regarding the quality of diesel produced by Dangote Petroleum Refinery.

 Dangote has ensured that the bulk of his business investments are local, contributing significantly to economic development through tax payments, extensive job creation, and consistent returns for shareholders,” she added.

The shareholders group strongly condemned what they termed as “unwarranted efforts to demarket the refinery” by regulatory bodies. They cautioned that such actions could deter both local and international investors and undermine government efforts to stabilise fuel prices and ensure availability.

We must rally around Dangote Refinery,” Mrs. Bakare urged, “to provide crucial support such as crude oil allocation, cooperation from international oil companies, and regulatory agency collaboration.” She stressed the refinery’s potential to save Nigeria over 30% in foreign exchange currently spent on offshore refining, which could significantly alleviate the country’s foreign exchange challenges.

“As shareholders,” Mrs. Bakare affirmed, “we remain steadfast in our support of Alhaji Aliko Dangote’s vision to bolster the nation’s economy and create more opportunities for our citizens.”

PSAN is the latest to join the growing list of Nigerians rallying support for Dangote in the ongoing standoff. Prominent figures and associations such as the President of the African Development Bank Group (AfDB), Akinwumi Adesina; billionaire businessman, Femi Otedola; federal lawmakers; former Vice President and 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar; former Anambra state governor and 2023 Labour Party presidential candidate, Peter Obi; Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA); and the Manufacturers Association of Nigeria have all voiced their support for Dangote Refinery.

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APC Aspirant Gifts 15 Million Naira To Former Councillors In Fagge

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Hon. Sagir Abba, an aspirant for the Fagge Federal Constituency under the All Progressives Congress (APC) in the upcoming elections, has distributed ₦15 million to former councillors, party elders, youths, and women in Fagge Local Government Area as part of his Ramadan outreach.

During the distribution in Fagge, 1,000 youths received ₦10,000 each, while 50 women from each of the ten political wards—totaling 500 beneficiaries—were given ₦10,000 and a wrapper. Former councillors who served between 2014 and 2021, along with party elders, received ₦30,000 each.

“This gesture is a token of my commitment to bringing the dividends of democracy to the people of Fagge. Ramadan is a time for compassion and sharing, and I am happy to support our youths, women, and elders in this blessed month,” Hon. Sagir Abba said.

Alhaji Musa Danjuma, one of the party elders, said, “Hon. Sagir has once again demonstrated his commitment to the welfare of our people. This assistance will go a long way, especially during Ramadan.”

Aisha Sani, one of the women who received cash and a wrapper, said, “This support means a lot to us. It will help us take care of our families during this holy month.”

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The event was attended by community leaders, APC stakeholders, and beneficiaries.

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Rivers Emergency Portrays Nigeria in a Negative Light-Jonathan

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Former President Dr. Goodluck Jonathan has broken his silence over the political crisis in Rivers State, expressing deep concern over the suspension of Governor Siminalayi Fubara and other elected officials, stating that such actions tarnish Nigeria’s global reputation.

Jonathan made these remarks while speaking as the chairman at the Haske Satumari Foundation Colloquium in Abuja on Saturday.

Jonathan criticized the removal of elected officials, emphasizing that these actions by key figures in the executive and legislative branches present Nigeria in a negative light.

He noted that while former presidents typically refrain from commenting on national issues to avoid inflaming political tensions, he felt compelled to speak out due to mounting calls from Nigerians urging him to address the situation.

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The former president underscored the importance of maintaining the integrity of governance institutions, warning that undue influence over the judiciary erodes public confidence in the legal system.

He also highlighted how Nigeria’s international image and investment climate are directly impacted by the conduct of its governmental arms.

Meanwhile, on the same day, the New Nigeria Peoples Party (NNPP) voiced support for President Bola Tinubu’s declaration of a state of emergency in Rivers State. NNPP National Chairman, Dr. Agbo Major, defended Tinubu’s decision, arguing that no responsible government would allow a worsening crisis to go unchecked.

Major stated that President Tinubu, as Nigeria’s Chief Security Officer, had access to intelligence that might not be publicly available. He suggested that without intervention, the situation in Rivers could have escalated further, posing significant security threats.

He also criticized some political leaders who, instead of promoting peace, allowed the crisis to deteriorate before stepping in with belated interventions and criticisms

 

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KEDCO Sympathizes with Dakata Small-Scale Industries Over Recent Fire Outbreak

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Kano Electricity Distribution Plc. (KEDCO) extends its deepest commiserations and sympathies to the leadership, workers, and business owners affected by the recent devastating fire outbreak at the Dakata Small Scale Industries, in Kano.

This was conveyed by the Managing Director and Chief Executive Officer, Abubakar Yusuf during a commiseration visit by the KEDCO Management

During the visit, the KEDCO delegation was guided around the market by the leadership of the industries to assess the extent of the damage.

KEDCO understands the significant challenges such an unfortunate incident can cause, particularly for small-scale businesses crucial to the local economy. The company acknowledges the hard work, dedication, and resilience of the entrepreneurs and workers within the Dakata small-scale community, who contribute significantly to job creation and economic growth in the region.

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In response to this incident, KEDCO is committed to providing any necessary energy-related support to help those affected by the fire, facilitating their swift recovery, and smooth resumption of operations.

“On behalf of the Board and Management, we deeply sympathize and stand in solidarity with the people of Dakata and the affected industries. One of KEDCO’s missions is supporting the socio-economic growth and development of our entire franchise areas and, in times of crisis, we remain dedicated to doing everything in our power to assist in business recovery and sustainability,” the MD stated.

“Our thoughts and prayers are with all the affected business owners. I can only imagine the challenges they are currently facing, however, they are not alone as we will continue to pray for Allah’s succor upon them,” he added.

Yusuf also urged all stakeholders to collaborate in ensuring that such incidents are prevented in the future, by adopting appropriate safety measures across all industrial areas.

In a statement signed by Sani Bala Sani Head corporate communications said  the Chairman of Micro, Small, and Medium Enterprises in Dakata, Alhaji Zulkifilu Alasan, expressed deep gratitude for the visit, stating, “This visit is a testament to the new KEDCO’s commitment to excellence and customer intimacy. Since KEDCO’s inception, this is the first time its MD/CEO and his team embarked on such a solidarity visit to the Dakata small-scale industries.”

 

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