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Dangote says Nigeria Can Become a Refining Hub

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Aliko Dangote

 

Nigeria must enhance its crude oil production capacity and effectively manage its crude supply to ensure adequate feedstock for domestic refineries, in order to transit from a net importer to a net exporter of petroleum products.

Chairman of Dangote Refinery and Petrochemicals Company Limited, Aliko Dangote, made this assertion during his keynote address at a summit held in Lagos by the Crude Oil Refinery Owners Association of Nigeria (CORAN). The event attracted top government officials and key stakeholders from the midstream and downstream sectors.

Addressing Nigeria’s potential as a refining hub, Dangote expressed concern that, despite producing over 3.4 million barrels of crude oil per day, Africa imports around 3 million barrels of petroleum products daily. He noted that these imports, primarily from Europe, Russia, and other regions, are estimated to cost approximately $17 billion in 2023.  He urged that Nigeria could capitalise on this situation to become a net exporter of refined petroleum products, as the markets would be more competitively served from Nigeria.

Both the crude oil and the petroleum products will travel shorter distances. The logistics costs of floating storage will be eliminated, and countries can purchase their petroleum product requirements just-in-time. Nigeria and Africa can become completely self-sufficient, and we can keep all the value on our shores. We have done it in cement, and we can certainly do it for petroleum products.

“It is worth noting that the Dangote Refinery already produces sufficient diesel and jet fuel to meet Nigeria’s demand. We recently started the production of PMS and will soon ramp up to meet Nigeria’s needs. Our refined products have been exported to diverse markets, including Europe, Brazil, the UK, the USA, Singapore, and South Korea,” he added.

Represented by Engr. Mansur Ahmed, Group Executive Director of Dangote Industries Ltd, Dangote emphasised that Nigeria must develop a refining capacity of 1.5 million barrels per day and prioritise domestic crude supply obligations to seize this opportunity. Acknowledging the arising and future challenges, he urged the government to incentivise investors, contrasting this with the Dangote Oil Refinery, which was built without any government incentives.

It is unfortunate that while countries like Norway are putting oil proceeds into a future fund, in Africa, we are spending oil proceeds from the future. We will also need to prioritise the implementation of domestic crude supply obligations. We will need to expand our crude oil production capacity to support demand from new refining capacity. The government of President Bola Ahmed Tinubu is taking active steps to achieve this through fast-tracking IOC divestments and other initiatives,” he stated.

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Emphasising that global developments in the petroleum sector, particularly in Europe, will disrupt historical trade flows for refined petroleum products in Africa, Dangote stated that Nigeria is uniquely positioned to capitalise on this opportunity and become a significant player in the global oil industry. He called for consultation, collaboration, and cooperation among stakeholders.

“As a vibrant exporter of refined products, Nigeria will witness an improvement in its balance of trade and generate much-needed foreign currency. Nigeria’s potential as a refining hub is clearly not in doubt; let us work together to make it happen,” he urged.

The foremost industrialist noted that the summit’s theme, “Making Nigeria a Net Exporter of Petroleum Products,” would have seemed unrealistic a few years ago, and added that despite being Africa’s largest crude oil producer, Nigeria has historically relied on imports to meet its refined petroleum product needs.

However, he emphasised that the Dangote Petroleum Refinery and Petrochemicals is poised to transform Nigeria from a “net importer” to a “net exporter” of refined petroleum products, establishing the country as an emerging player in global downstream trade flows; with refined products already exported to various markets, including Europe, Brazil, the UK, the USA, Singapore, and South Korea.

Commending Dangote for this transformation, Chairman of IPPG/Waltersmith Refinery & Petrochemicals Co. Ltd, Abdulrazaq Isa, called on the government to support domestic refiners by ensuring the availability of crude, adhering to domestic crude supply obligations, and implementing effective pricing and monitoring measures to prevent smuggling.

Chairman of CORAN’s Board of Trustees and CEO of Integrated Oil & Gas, Captain Emmanuel Iheanacho (rtd), remarked that the Dangote Oil Refinery has set a high standard by producing Euro-V products, thus protecting citizens from exposure to high-sulphur products. He noted that transforming Nigeria into a net exporter will bring numerous benefits but reiterated the need for increased investment to boost crude production, lamenting that Nigeria loses approximately $83 billion annually by not meeting its OPEC quota.

While acknowledging that tank farms remain essential despite local refining, Iheanacho urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), to consider cancelling import licences, as Nigeria can now meet its local demand.

Chairman of Major Energies Marketers Association of Nigeria (MEMAN), Huub Stokman,  stated that Nigeria is on the verge of becoming Africa’s refining powerhouse, which will significantly boost the economy. The Chairman of CORAN, Momoh Oyarekhua, also expressed concern over challenges related to crude supply and stated that domestic refiners will work with regulators and stakeholders to address these issues.

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lopkobiri,  assured that the government would continue to refine frameworks to enhance crude production and support domestic refineries. His counterpart from the Ministry of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, emphasised the Tinubu-led administration’s commitment to ensuring value addition for mineral resources before export.

Two panel sessions were held to discuss Nigeria’s downstream petroleum refining sector and its potential impacts, as well as policy strategies for achieving self-sufficiency in petroleum products.

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‎China, Nigeria Mark Friendship with Joint Cultural Mural

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‎A colourful mural celebrating both China’s National Day and Nigeria’s Independence Day has been unveiled at an overseas project site, serving as a vivid symbol of the enduring friendship between the two nations.
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‎The artwork, jointly produced by Chinese and Nigerian staff, features builders dressed in traditional Chinese costumes and Nigerian ethnic attire holding hands and dancing together.
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Above them, fireworks and white doves of peace illuminate the sky, while the inscription “10.1” highlights the dual significance of October 1, the China’s National Day and Nigeria’s Independence Day.
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‎On the left side of the mural, ancient Chinese architecture, red lanterns and auspicious cloud motifs showcase Chinese heritage.
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On the right, red earth, coconut palms and African drums reflect Nigeria’s cultural identity. Flowing ribbons weave across the painting, symbolising unity and shared destiny.
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‎Project officials described the mural as a “living testament” to cooperation at the frontline of development. They said it embodies mutual trust and support as workers from both countries overcome challenges together.
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‎The initiative underscores cultural integration and partnership, with both sides pledging to continue working hand in hand to strengthen ties.
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“Celebrating two festivals as one, we march forward with one heart,” a statement read, emphasising the commitment to write new chapters of friendship along the path of cooperation.
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‎The mural, rooted in the overseas project site, stands as a reminder of the brotherly bond between China and Nigeria, and the shared vision of building together for a brighter future.

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Musa Illiyasu Kwankwaso Celebrates Senator Lado @60, Says Is A Political Dogma

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From Muhammad Kabir Kano

The spokesperson of Political Appointees Forum from Kano State, Dr. Musa Illiyasu Kwankwaso, has described Senator Basheer Lado, the Special Adviser to President Tinubu on National Assembly Matters (Senate), who also doubles as the Chairman of the Appointees, on his 60th birthday, as a Political Blog who plays the game with maturity and respect.

Kwankwaso who also describes Senator as Political Dogma, praised his contributions to democratic governance, humanitarian services and national development.

“Senator Lado is a dependable public servant and accomplished legislator whose experience had helped strengthen relations between the Executive and the Senate and also steer ship the activities of the Political Appointees with huge respect and understanding”,

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He said it is on notice that Lado served in the Senate for four years before his by late President Buhari on Relief agency and subsequent appointment as Tinubu’s liaison officer in the upper chamber of the National Assembly.

Lado represented Kano Central Senatorial District in the Seventh National Assembly from 2011 to 2015, where he served as Vice Chairman of the Senate Committee on Works.

Lado facilitated several constituency projects, including the Kundila Bridge, popularly known as Gadar Lado, in Kano State. His contributions to humanitarian services through his previous roles as Federal Commissioner of the National Commission for Refugees, Migrants and Internally Displaced Persons, and Director-General of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP).

He said Lado contributed to protecting vulnerable Nigerians, combating human trafficking and improving the welfare and rehabilitation of displaced persons.

Kwankwaso further commended the senator’s humanitarian initiatives through the Ladon Alheri Foundation, particularly in education, healthcare, women’s economic empowerment, rural water supply and support for disadvantaged communities.

” Lado’s contributions across public service reflected his commitment to national development and the welfare of Nigerians”, he added.

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EFCC Reopens Atiku’s Alleged Financial Crimes Probe

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By Yusuf Danjuma Yunusa

The Economic and Financial Crimes Commission (EFCC) has reopened its investigation into allegations against former Vice President Atiku Abubakar following a petition by former House of Representatives member, Hon. Ehiozuwa Johnson Agbonayinma, seeking his prosecution over alleged financial crimes.

The petition seeks to revive a case dating back to 2006, asking the anti-graft agency to revisit its investigation under former chairman, Mallam Nuhu Ribadu, and consider a subsequent report by a United States Senate subcommittee.

Speaking on the development, Agbonayinma said the EFCC had acknowledged his petition, dated August 27, 2026, and received on September 1. Filed through his lawyer, Chief Hannibal Egbe Uwaifo, SAN, the petition asks the commission to reactivate its earlier report and act on the allegations.

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The former lawmaker appeared at the EFCC headquarters in Jabi, Abuja, where he adopted the petition and answered questions from investigators.

Agbonayinma said the matter should not be allowed to remain unresolved.

“I want to thank Nigerians, the EFCC, and those praying for me in this struggle. The laws are meant for both the rich and the poor. After the EFCC has done a fantastic job, it should not be kept under the table,” he said.

In the petition, Agbonayinma urged the EFCC to revisit its September 2006 report on Atiku and a February 4, 2010, report by the US Senate Permanent Subcommittee on Investigations, arguing that both documents should form the basis for renewed action.

The petition alleged that the EFCC had previously indicated that Atiku could face prosecution after leaving office as vice-president, when his constitutional immunity ceased to apply, but that no prosecution followed.

Agbonayinma described the alleged failure to act as a dereliction of duty and argued that pursuing the matter would demonstrate the commission’s resolve to hold politically influential figures accountable.

He also disclosed that he had petitioned US President Donald Trump over the allegations.

The EFCC spokesman, Dele Oyewale, had yet to respond to messages seeking an update on the investigation as of the time of filing this report.

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