All Posts in "Month: November 2025"

NIMASA, Judiciary Chart Course for Nigeria’s Blue Economy

 

The Nigerian Maritime Administration and Safety Agency (NIMASA) has identified the judiciary as a major partner in the realization of the benefits of the Blue Economy in Nigeria.
According to a statement signed by Osagie Edward, Deputy Director/Head, Public Relations, the NIMASA Director General, Dr Dayo Mobereola said this at the 4th Edition of the Admiralty Law Colloquium in Lagos with the theme, ‘Charting the Course of Nigeria’s Blue Economy’, a reflection of the increased national attention to the potential of the maritime industry in driving economic development.
Delivering the welcome address at the event, Dr. Mobereola said, “Nigeria’s Blue Economy requires an all-hands-on-deck approach, with the Judiciary as a crucial actor, where interpretation of legal instruments and case decisions remains a vital tool for the sustainable development of Nigeria’s Blue Economy”.
He identified the important role of the Nigerian judiciary in interpreting extant maritime laws, thereby helping to improve industry standards and aiding the development of the Blue Economy.
In her keynote address, the Chief Justice of Nigeria, Justice Kudirat Motonmori Olatokumbo Kekere-Ekun who was represented by Hon. Justice Emmanuel Akomoye Agim, JSC CFR, commended NIMASA and the National Institute of Advanced Legal Studies (NIALS) for collaborating to host the colloquium which is central to building the capacity of judicial officers in admiralty law.
The Chief Justice said, “The task before us is to ensure that Nigeria’s Blue Economy does not remain a conceptual aspiration but becomes a tangible driver of growth, equity, and sustainability. The Judiciary must not stand at the shoreline as a passive observer, but rather as an active navigator — steering the ship of justice through the complex waters of maritime development.”.
The first session saw renowned maritime law experts, Dr. Emeka Akabogu SAN and Dr. Chukwuchefu Ukatta, deliver papers in line with the theme of the event emphasizing the imperative of synergy between judicial processes and development of the Blue Economy in Nigeria.
A panel discussion chaired by Professor A. J. Abikan, Director General of NIALS, was then held, followed by an interactive session with attendees, which concluded the event.
Present at the Colloquium were the President, Court of Appeal, Hon. Justice M. B. Dongbam-Mensem, who was represented by Hon. Justice E. O. Williams-Dawodu, and Chief Judge of the Federal High Court, Hon. Justice John Tsoho, who was represented by Hon. Justice A. Faji.
The Admiralty Law Colloquium is an annual event organized by the Nigerian Maritime Administration and Safety Agency (NIMASA) in partnership with the National Institute of Advanced Legal Studies (NIALS) and with the support of the National Judicial Institute (NJI). Its purpose is to facilitate discussions on maritime law, focusing on improving adjudication, enhancing maritime security, and advancing the Nigerian Blue Economy.
Picture: R-L: Hon. Justice Ayokunle O. Faji; Hon. Justice Emmanuel Akomoye Agim, JSC CFR; Director General, Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dayo Mobereola; Hon Justice E.O. Williams-Dawodu, and Director General, National Institute of Advanced Legal Studies, NIALS, Professor A.I Abikan, during the 4th Nigerian Admiralty Law Colloquium in Lagos.

DFC Management by — November 6, 2025 in Transport/Maritime 0
Trump’s military threat: ADC, PDP issuing mindless, unpatriotic statements – APC

The All Progressives Congress, APC, has condemned the African Democratic Congress, ADC, and the Peoples Democratic Party, PDP, for what it described as “mindless and unpatriotic” reactions to the recent military threat issued by US President Donald Trump against Nigeria.

APC’s National Publicity Secretary, Felix Morka, stated this on Wednesday during an interview on Arise Television’s Prime Time programme.

Morka also criticized opposition parties for attempting to politicize the issue, calling their actions “irresponsible and despicable.”

He said the US government, led by Trump, must ensure that any decision or statement regarding Nigeria is based on accurate information. He warned that actions taken on the basis of false narratives could have far-reaching consequences for the entire West African region.

Morka noted that any military action against Nigeria could trigger instability across neighboring countries, stressing that cooperation between both nations was the best approach to combat terrorism.

He said: “But you see, whatever it is the United States government of which President Trump is leader has a responsibility to ensure that he gets the facts straight and right on this matter, because any decision or action that is predicated on false argument, or false narratives, what I call some conjured narratives about Nigeria, will not affect Nigeria alone. It will affect every other country within this region.

“Our borders are open if anything goes on in Nigeria, when Nigerians feel threatened by any kind of military action from the United States, look, all of the neighboring countries will be implicated in this specter of reaction and counter reaction.

“So I think that this is needless. We can tackle this problem more efficiently if the United States Government will partner with Nigeria to bring any support or assistance that they can muster to the theater to defeat terror that I know the United States stands vehemently opposed to.

“I think that beyond those who are manipulating the situation, for instance, look at the Nigerian opposition, why would ADC and the PDP, be issuing statements that are so mindlessly, unpatriotic. It’s wrong. I think there’s a time for national reckoning. There’s a time for politics. This is not a time for self serving.

“Senseless political noise making that is coming out of the opposition, the a country, a foreign country, is issuing a threat to conduct military action against our country, to probably even send boots on the ground, on the soil of the sovereign Nigeria and the political party thinks this is the moment to make a political capital. That is utterly irresponsible and despicable.”

Dan Poster by — November 6, 2025 in Politics 0
Kefas’s defection comes with no conditions – Taraba APC

Taraba State chapter of the All Progressives Congress, APC, has refuted claims that it imposed conditions on governor Agbu Kefas before his planned defection from the Peoples Democratic Party, PDP, to the party.

Briefing journalists in Jalingo, on Wednesday, the APC State spokesperson, Aaron Atmas said the governor’s decision to join the party was entirely voluntary and unconditional.

“APC has not laid out any demands before accepting the governor to come in. When he comes in, we are sure he will do justice to all manners of people. He is joining us without any hustles or rancour,” Atmas said.

The spokesperson explained that Governor Kefas’ move is primarily aimed at fostering unity among political stakeholders and driving development in Taraba State.

“The major thing he is calling for is unity so that, with one voice, we can move Taraba State forward,” he added.

Atmas also described the governor’s recent meetings with key APC members as a step to clear misconceptions and rumours surrounding his defection.

“The meeting was conveyed to move from rumours to reality. He has confirmed that President Bola Ahmed Tinubu has handed him over to our party’s national chairman,” he said.

An official ceremony to formally welcome governor Kefas into the APC, as made known by the party, is expected in the coming weeks.

Atmas further claimed that there is currently “no active opposition” in the state, as major APC stakeholders have endorsed the governor’s entry.

“We are going to continue in a democratic manner. The governor has already proved that he can work with people from different backgrounds and has promised to harmonize the politics of the state,” he concluded.

Dan Poster by — November 6, 2025 in Politics 0
Troops arrest seven suspects in joint Benue–Taraba border operations

Troops of Operation Whirl Stroke (OPWS) have apprehended seven suspects during intensified patrols along the Benue–Taraba border, as part of ongoing efforts to curb insecurity in the area.

Among those arrested, one suspect was identified as an informant linked to a notorious kidnapper operating between the two states.

According to Lieutenant Ahmad Zubairu, Acting Media Information Officer of OPWS, the arrests took place on October 31, 2025, during a fighting and confidence-building patrol by soldiers stationed at Camp Zaki-Biam, Ukum Local Government Area of Benue State.

Acting on credible intelligence, troops stormed Wukari Junction, where they detained four individuals identified as Ter’Ese Ioryenmen (34), Oanduna Oruman (37), Shaagba Dominic (27), and Solomon Kortya (30).

Zubairu revealed that preliminary findings indicated one of the suspects served as an informant for a kidnapper known only as Mathew.

Items recovered from the suspects included a motorcycle, one master key, four mobile phones, some unidentified drugs, and N19,500 in cash.

In a related operation on the same day, troops deployed at Tor Donga in Katsina-Ala LGA, working jointly with the Benue State Community Protection Guards (BSCPG), arrested three robbery suspects who were allegedly terrorizing travelers along Mbache Road in Mbache Council Ward.

The suspects, identified as Aondohenba Godwin (35), Dooron Washina (19), and Terkuma Zahemen (15), were found with a paper-constructed toy pistol, nine mobile phones, a solar panel, and four MP3 speakers.

Zubairu confirmed that all suspects remain in custody for further investigation.

Force Commander, OPWS, Major General Moses Gara, commended the troops for their professionalism and quick response, urging them to sustain their operational momentum against kidnappers, armed robbers, and other criminal networks within their areas of responsibility.

Dan Poster by — November 6, 2025 in General News 0
We won’t allow criminals to destroy our communities – Senator Barau

The Deputy Senate President, Senator Barau I. Jibrin, has vowed that criminals will not be allowed to destroy communities in Kano North.

He assured residents that the area remains peaceful despite recent bandit threats.

Senator Barau, in a statement issued by his Special Adviser on Media and Publicity, Ismail Mudashir, commended the swift response of security agencies in repelling bandits who attempted to attack parts of Shanono Local Government Area of Kano State.

He said troops of the Joint Task Force Operation MESA, under the command of the 3 Brigade of the Nigerian Army, acted on credible intelligence and successfully neutralised 19 bandits on November 1.

The operation, according to him, prevented what could have been a deadly assault on local communities.

“I commend the gallantry of the troops and other security personnel who bravely defended our people,” Senator Barau said.

“We will not allow marauding criminals fleeing from military operations in neighbouring states to destabilise our peaceful communities.”

The lawmaker also expressed sadness over the deaths of two soldiers and a vigilante member who lost their lives during the operation.

He prayed for the repose of their souls and comfort for their families.

While urging residents to remain calm and vigilant, Barau called on them to continue supporting security agencies by reporting suspicious movements or activities for prompt action.

Dan Poster by — November 6, 2025 in General News 0
Senate probes $300bn missing crude proceeds

The Senate on Wednesday received the interim report of its ad hoc committee investigating crude oil theft in the Niger Delta, amid fresh concerns that Nigeria may have lost more than $300bn in unaccounted crude proceeds over the years.

The loss is attributed to alleged collusion, poor industry oversight, and entrenched sabotage networks.

The committee, chaired by Senator Ned Nwoko (Delta North), was set up earlier this year to probe persistent crude oil theft, bunkering operations, illegal export networks, and alleged compromises within regulatory and security systems, a crisis long blamed for dwindling production and Nigeria’s failure to meet Organisation of the Petroleum Exporting Countries output quotas.

Presenting the interim findings, Nwoko said the committee uncovered “systemic irregularities, poor measurement standards, and weak enforcement” across the petroleum value chain.

The preliminary document, which runs into about 40 pages, lays out proposed reforms and urgent actions.

“The ad hoc committee should be given the mandate to track, trace, and recover all proceeds of stolen crude oil transactions, both locally and internationally, as forensic review by the consultants shows over $22bn, $81bn, and $200bn remain unaccounted for.

“We are proposing to go straight to the recommendations as the full report is voluminous.

“The committee, after extensive assessment, recommends that the Nigerian Upstream Petroleum Regulatory Commission should strictly enforce internationally accepted crude oil measurement standards at all production sites and export terminals,” Nwoko said.

The Senate on Wednesday received the interim report of its ad hoc committee investigating crude oil theft in the Niger Delta, amid fresh concerns that Nigeria may have lost more than $300bn in unaccounted crude proceeds over the years.

The loss is attributed to alleged collusion, poor industry oversight, and entrenched sabotage networks.

The committee, chaired by Senator Ned Nwoko (Delta North), was set up earlier this year to probe persistent crude oil theft, bunkering operations, illegal export networks, and alleged compromises within regulatory and security systems, a crisis long blamed for dwindling production and Nigeria’s failure to meet Organisation of the Petroleum Exporting Countries output quotas.

Presenting the interim findings, Nwoko said the committee uncovered “systemic irregularities, poor measurement standards, and weak enforcement” across the petroleum value chain.

So This Happened (EP 348) reviews: ₦45bn traced to detained officers in alleged coup probe | Punch

The preliminary document, which runs into about 40 pages, lays out proposed reforms and urgent actions.

“The ad hoc committee should be given the mandate to track, trace, and recover all proceeds of stolen crude oil transactions, both locally and internationally, as forensic review by the consultants shows over $22bn, $81bn, and $200bn remain unaccounted for.

“We are proposing to go straight to the recommendations as the full report is voluminous.

“The committee, after extensive assessment, recommends that the Nigerian Upstream Petroleum Regulatory Commission should strictly enforce internationally accepted crude oil measurement standards at all production sites and export terminals,” Nwoko said.

Dan Poster by — November 6, 2025 in General News 0
Tinubu implementing far-reaching measures to combat terrorism -Minister

ALAKEPresident Bola Tinubu’s administration is implementing several far-reaching measures to combat terrorism in Nigeria, combining military action with socio-economic initiatives and regional diplomacy

Minister of Solid Minerals, Deji Alake stated this during a news conference hosted by the Minister of Information and National Orientation, Alhaji Mohammed Idris, on Wednesday in Abuja.

He explained that the insecurity in Nigeria did not start under President Tinubu or two years ago.

“From the actions taken so far; from the plethora of actions, if such were taken ten years ago, we probably would not be where we are today.

“Ranging from the changing of security architecture,  the top brass of our security agencies.

“The change in 2023, change again a few days ago; all these are to reinvigorate and re-inject new enthusiasm and impetus into the fight against insecurity.

“These are policies and actions emanating from deep exhaustive planning and strategising and they are yielding results.

“When you look at the last ten years and do a comparative analysis with the last two years, you will notice the tremendous efforts that this government has put in place and actions so far taken to stem the tide of insecurity.

“Everyone knows that there is no deliberate targeting of any religion or persecution. Sometimes, when these terrorists go to attack, they don’t do it based on religion, rather it is based on either economic or political reasons, ” Alake said.

He added that ironically, some of those communities are inhabited by people of a particular religion, adding that,  to use the faith of the inhabitant to explain the motive of the attack is very wrong.

“Such do not reflect the reality on the ground”.

He called on the media to stop propagating a wrong narrative characterised by unbelievable happenings in the country, but rather amplify the success of the armed forces in the fight against terrorism.

Dan Poster by — November 6, 2025 in General News 0
Strike: ASUU disputes FG’s claim of N50bn payment

asuu-strikeThe Academic Staff Union of Universities says it has not received the N50bn revitalisation fund the Federal Government recently claimed to have released, insisting that none of the union’s demands has been met ahead of its National Executive Council meeting slated for November 8 and 9, 2025.

ASUU stated this in a Wednesday statement signed by Prof. Jurbe Molwus, who recalled that the union suspended its two-week warning strike in good faith after assurances from senior government officials that concrete proposals would be brought to the table.

“As ASUU mobilises for its National Executive Council meeting scheduled to hold on the 8th and 9th November, 2025, we expect that some of the outstanding entitlements such as 3.5 months withheld salaries, 25/35% wage award arrears, promotion arrears, unpaid salaries of some members etc. would have been paid to university workers by now. But all we get is press releases by the Honourable Minister of Education. What we need is credit alerts and not misleading releases.”

He noted that the Federal Government’s recent announcement of a N50bn disbursement had not translated into payment to universities.

“It is sad to further note that even the N50bn revitalisation fund the FGN claimed to have released some weeks ago is yet to reach the universities. We do not know why the Minister of Education is still keeping it.”

Molwus also faulted comments by the Minister of Education, Dr. Tunji Alausa, claiming that N2.3bn had been released to settle salary and promotion arrears.

“Again, the Honourable Minister of Education, Dr. Tunji Maruf Alausa, was quoted to have said in a recent release that ‘The FG has released N2.3bn to clear salary and promotion arrears in all federal universities’.

“But, as we speak right now, the university workers have yet to receive any such alerts. So, the minister’s claim of clearing backlog may be in the fiction of his imagination. He also claimed to have strengthened academic staff welfare, and we ask how?”

Molwus argued that the funds cited by the minister were insufficient.

“However, the big question for the minister to answer is: can a meagre N2.3bn settle the backlog of promotion and salary arrears of all federal university workers? Absolutely, no. The truth is that the amount of N2.3bn is like a drop in the ocean because it can hardly take care of three big universities in Nigeria. The amount is grossly inadequate and almost embarrassing if not insulting.

“The honourable minister needs to come out clearly and state what fraction of the outstanding entitlements of the university workers the N2.3bn is meant to settle and for whom it is meant. We sincerely do not understand the magic of the minister.”

The union further urged Nigerians to hold the Federal Government accountable, warning that it may resume its strike if its demands are not met by November 21, 2025, the end of its four-week ultimatum.

“We hereby call on the press, students, parents and the general public to call on the FGN to do the needful so that ASUU is not blamed if and when it resumes its suspended strike in the next two weeks. For clarity, the four weeks given to the FGN will lapse on the 21st of November, 2025.

“We hereby state for the benefit of the doubts that the strike was only suspended as a mark of respect and demonstration of goodwill in collective bargaining. So, we expect the FGN to reciprocate by satisfactorily addressing our demands without further delays. Our members are losing patience as they wait to receive alerts of their legitimate entitlements.”

ASUU had declared a two-week “total and comprehensive” strike on October 12 following a 14-day ultimatum issued to government on September 28.

The union cited the Federal Government’s failure to address staff welfare, infrastructure funding, implementation of the 2009 ASUU-FGN agreement, and salary arrears.

The Federal Government, however, criticised ASUU for declaring the industrial action and directed universities to enforce a “No Work, No Pay” policy.

It also ordered vice-chancellors to conduct roll calls and physical headcounts of academic staff and submit reports showing those on duty.

Weeks later, the Senate intervened, expressing concern over Abuja’s failure to meet ASUU’s demands.

The Chairman of the Senate Committee on Tertiary Institutions and TETFund, Senator Aliyu Dandutse, said the Senate would initiate a new negotiation process involving ASUU, the Ministry of Education and the National Universities Commission to find a lasting solution.

On the contentious University of Abuja land matter, he added that the Senate would engage the Minister of the Federal Capital Territory, Nyesom Wike, to seek an amicable resolution.

Dan Poster by — November 6, 2025 in General News 0
MAN tasks FG on productive use of fuel tariffs

MAN logo manufacturers Association of NigeriaThe Manufacturers Association of Nigeria has urged the Federal Government to reinvest proceeds from the newly approved 15 per cent import tariff on petrol and diesel into energy infrastructure, refinery efficiency, and power support schemes for industries.

The association described the policy as a patriotic and strategic step that aligns with its advocacy for the patronage of Made-in-Nigeria products and the ‘Nigeria First’ industrial agenda.

Director-General of MAN, Segun Ajayi-Kadir, said in a statement on Wednesday that the tariff imposition was a “sure step toward strengthening local value addition, domestic refining capacity, conserving foreign exchange, and advancing Nigeria’s long-term industrialisation objectives.”

He said, “The 15 per cent tariff is a deliberately designed policy instrument intended to protect and encourage domestic producers, curb dumping, and create a stable environment for local refiners to thrive.”

Ajayi-Kadir noted that the policy had reassured manufacturers that the government was attentive to the need to grow indigenous industries, adding that it would accelerate the operational readiness of local refineries and stabilise energy supply to industries.

He added, “We call for transparent, efficient, and well-coordinated implementation to ensure that its benefits reach both industry and consumers, safeguard competitiveness, and prevent unintended cost burdens.”

MAN urged the government to ensure transparent price monitoring through regulators such as the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Federal Competition and Consumer Protection Commission to prevent excessive mark-ups and anti-competitive behaviour.

It also called for a stable transition period, especially during the festive season, to support local refiners and prevent fuel supply shocks or speculative hoarding.

Ajayi-Kadir further advised the government to reinvest tariff revenues in energy and refinery infrastructure, provide credit facilities for industrial energy transition, and create incentives for small and medium manufacturers that rely on diesel-powered generators.

He also urged the government to privatise non-functional refineries to stop the “commitment of scarce financial resources to an evidently irredeemable venture.”

The MAN boss stated, “This tariff is a vital step in achieving energy independence and industrial sustainability, both of which are prerequisites for Nigeria’s economic transformation. We believe it will accelerate the country’s journey toward energy sovereignty, industrial competitiveness, and sustainable economic growth anchored on the strength of Made-in-Nigeria.”

An earlier policy brief by the Centre for the Promotion of Private Enterprise corroborates MAN’s position. Director of the CPPE, Dr Muda Yusuf, also described the 15 per cent import duty on refined petroleum products as a “progressive and corrective policy measure” that would promote strategic protectionism and strengthen Nigeria’s productive base.

Yusuf said, “The policy represents a positive step toward safeguarding domestic and emerging industries while building competitiveness and self-sufficiency. Sectors that enjoyed measured protection, such as cement, flour, and beverages, have recorded remarkable growth and value addition.”

The CPPE chief noted that the tariff will conserve foreign exchange, support local refineries such as the Dangote Refinery and modular operators, and reduce exposure to external shocks.

He added that, for the policy to succeed, government must complement it with low-cost financing, reliable energy supply, infrastructure investment, and streamlined regulations to improve domestic efficiency and ensure long-term consumer benefits.

Yusuf noted, “No country has industrialised through unrestrained exposure to imports. Protectionism, when pragmatic and disciplined, is not about closing borders; it is about building domestic strength for global competitiveness.”

Dan Poster by — November 6, 2025 in Business 0
Oando suspends petrol imports as Dangote raises output

Oando PlcOando Plc says it has suspended petrol importation into the country as the commencement of domestic fuel supply by the Dangote Refinery continues to disrupt Nigeria’s downstream market, leading to a 20 per cent fall in its trading revenue.

In its H1 and nine-month 2025 financial reports, the energy company said its trading segment faced headwinds that exerted pressure on both the entity’s revenue and the group’s topline, following the decline in Premium Motor Spirit imports into the country due to rising local refining capacity.

“Our trading segment faced headwinds which exerted pressure on the entity’s revenue and the Group’s topline as a result of declining PMS imports into the country due to rising local refining capacity from the Dangote refinery, a positive development that enhances Nigeria’s energy security and self-sufficiency,” the company said in its H1 report.

It explained that in response to the changing environment, it diversified crude offtake sources, optimised trade flows, and expanded into new commodities like liquefied natural gas to cushion the impact of lost PMS volumes.

“In response, we diversified our crude offtake sources, optimised trade flows, and expanded into LNG and metals. These initiatives are already gaining traction and will support stronger performance in H1,” Oando stated.

According to the 9M report, revenue declined by 20 per cent year-on-year to N2.5tn in the first nine months of 2025, compared with N3.2tn in the same period of 2024. The company attributed the fall primarily to a reduction in gasoline imports following the ramp-up of the Dangote refinery, though this was partly offset by stronger upstream contributions.

“Revenue declined by 20 per cent year-on-year to N2.5tn (9M 2024: N3.2tn), primarily due to a reduction in gasoline imports following the ramp-up of the Dangote refinery, which has positively transformed Nigeria’s refined-product supply landscape, partly offset by stronger upstream contributions,” the firm noted.

Gross profit also decreased by 42 per cent to N113bn compared to N194bn in the same period last year. The decline was in line with the topline contraction and changing segment mix, Oando reported.

However, the company recorded a sharp rise in net earnings during the period under review.

“Profit after tax increased by 164 per cent to N210bn (9M 2024: N76bn), driven by stronger production volumes and legacy recoveries,” it said.

Across its trading business, Oando acknowledged that refined product volumes remained under pressure largely due to the success of the Dangote refinery in meeting Nigeria’s fuel needs.

“Across our trading business, refined products volumes remained under pressure, largely due to the well-deserved and expected success of the Dangote refinery in meeting Nigeria’s import needs. Consequently, our focus had shifted to expanding global crude exports and leveraging structured pre-export transactions, an area in which we have continued to record robust success,” it stated.

During the review period, Oando said it maintained progress in crude trading while deliberately pausing PMS activities in response to the structural shift in the domestic market.

“In 9M 2025, the Trading Division continued to execute its strategic priorities despite persistent market volatility. A total of 21 crude oil cargoes (19.8 million barrels) were traded during the period, up from 15 cargoes (16.7 MMbbl) in 9M 2024, reflecting sustained momentum under Project Gazelle and stronger crude trading performance,” it said.

Conversely, it was added that “the vision made a conscious strategic decision to pause PMS trading activities during the period, recognising the structural shift in Nigeria’s downstream market following the full commencement of domestic supply from the Dangote refinery.”

It added, “With the refinery now fulfilling its intended role in supporting national product availability, Oando has redirected its focus towards higher-margin crude and gas trading opportunities, while continuing to evaluate re-entry into the refined-product segment as market dynamics stabilise.

Looking ahead, Oando said it would focus on strengthening crude trade flows and expanding into gas and metals.

“The focus going forward is on deepening operational resilience and optimising existing crude trade flows, supported by the development of offtake-linked financing structures to unlock incremental volumes and strengthen margins. In parallel, the division is advancing plans to diversify into gas and metals trading, aligning with the group’s broader strategy to build a balanced, future-ready energy portfolio and deliver sustained long-term value,” the report stated.

The Dangote refinery, which began production in 2024, has since become a dominant player in Nigeria’s fuel market. With a capacity of 650,000 barrels per day, the plant said it now supplies much of the nation’s petrol and diesel needs, significantly cutting the country’s dependence on imported products.

Last week, the Federal Government introduced a 15 per cent import duty on petrol and diesel to discourage cheap fuel imports and protect local refineries.

The policy is aimed at consolidating domestic refining gains and stabilising the market amid Dangote’s rapid scale-up.

Analysts said the new tariff, coupled with the refinery’s growing output, would eventually price importers out of the market.

Dan Poster by — November 6, 2025 in Business 0