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High expectation as Dangote refinery begins operation next month, to produce petrol November 30, orders initial crude oil need

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The Dangote Petroleum Refinery is currently importing crude oil and expects its first crude cargo in two weeks’ time, the Executive Director, Dangote Group, Devakumar Edwin, has revealed.

Although the Nigerian National Petroleum Company Limited trades crude oil on behalf of Nigeria, Edwin in an interview with S&P Global Commodity Insights on Monday, said the NNPCL had committed its crude to other entities.

The Dangote refinery boss did not disclose the other entities receiving the oil company’s crude but NNPC disclosed last month it had entered into a $3bn crude oil-for-loan deal with African Export-Import Bank. The deal allowed the company to pledge future oil production to the bank as repayments for the loan.

As reported by the Punch, NNPC sources said on Tuesday the company had entered into crude oil contracts with a number of entities, a development that made it impossible for the organisation to meet Dangote’s need earlier.

A top official of the oil company was however quoted to have said plans were already underway to ensure Dangote’s refineries crude oil needs were met in November.

Also, Edwin pointed out that the importation of crude by Dangote refinery was temporary, as the firm would receive supply from NNPCL from November.

Edwin went ahead to state that the firm would begin the production of up to 370,000 barrels per day of crude that would give rise to Automotive Gas Oil, popularly called diesel, and jet fuel in October 2023.

For Premium Motor Spirit, popularly called petrol, the Dangote Group’s boss said the plant would produce it by November 30, 2023.

This came as oil marketers stated that the prices of diesel and jet fuel would only crash when the Dangote refinery starts receiving crude oil from Nigeria, and not by importing crude.

Meanwhile, Edwin stated in the interview that the Dangote Refinery would initiate a gradual increase in petrol production, aiming to reach an impressive 650,000 barrels per day by November 30.

He emphasised the refinery’s readiness to receive crude oil, stating, “Right now, I’m ready to receive crude. We are just waiting for the first vessel. And so, as soon as it comes in, we can start.”

Regarding the shift in the original timeline, Edwin clarified, during his conversation with S&P, that the NNPCL had already committed their crude oil to another entity on a forward basis, causing a temporary delay.

He said the setback was momentary, and the refinery would soon run exclusively on Nigerian crude oil as from November 2023.

It was also gathered on Tuesday in Abuja that the NNPCL had entered into crude oil supply commitments with other entities, but would ensure that it supplies the commodity to Dangote refinery in November.

In mid-August, the national oil firm announced that it had secured a $3bn emergency crude oil repayment loan from the African Export-Import Bank.

It had announced the acquisition of the loan in a brief statement titled, ‘Relief for the naira: NNPC Ltd secures $3bn emergency crude repayment loan from AFREXIM Bank.’

The statement read, “The NNPC Ltd and @afreximbank have jointly signed a commitment letter and term-sheet for an emergency $3bn crude oil repayment loan.

“The signing, which took place today at the bank’s headquarters in Cairo, Egypt, will provide some immediate disbursement that will enable the NNPC Ltd to support the Federal Government in its ongoing fiscal and monetary policy reforms aimed at stabilising the exchange rate market.”

Providing further explanation about the loan at the time, the Senior Special Assistant to President on Digital/New Media, O’tega Ogra, in several posts on X (formerly Twitter), explained that the $3bn was not a crude-for-refined products swap loan, but an upfront cash loan against proceeds from a limited amount of future crude oil production.

This confirmed that the national oil firm had really made commitments to other entities using the crude produced by Nigeria.

Ogra had said, “Is this loan risky for NNPCL or the Nigerian Treasury? No. The exposure for NNPCL is very limited, covering just a fraction of their entitlements. Additionally, there are no sovereign guarantees tied to this loan.”

 

 

 

 

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Dangote makes case for domestic production at Abuja trade fair

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The Dangote Group has reaffirmed the critical role of domestic production in strengthening Nigeria’s economic resilience.

The Group stated this weekend through its Group General Manager, Mr. Abdullahi Bello Danmusa, who represented the Regional Director/Senior Adviser to the Dangote Group President/CE, Fatima Wali-Abdurrahman, at the Dangote Special Day at the ongoing Abuja International Trade Fair.

Speaking on the theme of this year’s Trade Fair, “Resilience: Trade, Taxation and the Economy,” Mr. Danmusa said taxation remains a fundamental component of national development, stressing that Dangote Group takes its tax obligations seriously and contributes substantial revenues to government annually, while also supporting employment, enterprise and value creation across its operations.

He said trade could achieve greater economic impact when it is supported by strong domestic productive capacity.

“Trade becomes more meaningful when it is supported by production. No country can build lasting resilience by depending excessively on imports that it has the capacity to produce competitively at home.

“This is why Dangote Group continues to invest in manufacturing and industrial capacity across cement, sugar, salt and seasoning, packaging, fertiliser, petrochemicals and petroleum refining.

“The theme of this year’s Trade Fair, ‘Resilience: Trade, Taxation and the Economy,’ speaks directly to the realities of our time.

“Nigeria’s economic resilience will ultimately depend on a fundamental choice: to continue to import what we can produce, or build the capacity to produce, compete and export.”

Danmusa noted that strengthening domestic manufacturing capacity would help deepen economic activity, create jobs, support local enterprises and reduce excessive dependence on imported products.

He added that the Group’s investments across various sectors reflect its commitment to supporting Nigeria’s industrialisation and contributing to the development of a more productive and resilient economy.

Also speaking at the Dangote Special Day, the First Deputy President of the Abuja Chamber of Commerce and Industry (ACCI), Prof. Adebisi Adesugba, commended Dangote Industries for its contribution to Nigeria’s economic development.

Adesugba, who represented the President of ACCI, Emeka Obegolu, SAN, said the longstanding partnership between Dangote and the Chamber demonstrates the important

He noted that Dangote’s strategic investments in sectors including cement, fertiliser, agriculture, refining and petrochemicals have contributed to strengthening domestic productive capacity, creating employment opportunities, reducing dependence on imports and supporting foreign exchange generation.

“ACCI recognises Dangote not only as an exhibitor and sponsor, but also as a strategic partner.”

He said the partnership between ACCI and Dangote has contributed to creating opportunities for businesses and entrepreneurs while supporting trade, investment and sustainable economic development.

Adesugba further expressed the Chamber’s appreciation for Dangote’s longstanding relationship and partnership with ACCI, describing the collaboration as an important platform for strengthening the business community and advancing economic opportunities.

The Dangote Special Day brought together business leaders, government representatives, investors, exhibitors, entrepreneurs and other stakeholders as part of activities at the ongoing Abuja International Trade Fair.

Also speaking at the Dangote Special Day, the First Deputy President of the Abuja Chamber of Commerce and Industry (ACCI), Prof. Adebisi Adesugba, commended Dangote Industries for its contribution to Nigeria’s economic development.

Adesugba, who represented the President of ACCI, Emeka Obegolu, SAN, said the longstanding partnership between Dangote and the Chamber demonstrates the important role of responsible corporate participation in promoting commerce, investment and entrepreneurship in Nigeria and across the African sub-region.

He noted that Dangote’s strategic investments in sectors including cement, fertiliser, agriculture, refining and petrochemicals have contributed to strengthening domestic productive capacity, creating employment opportunities, reducing dependence on imports and supporting foreign exchange generation.

“ACCI recognises Dangote not only as an exhibitor and sponsor, but also as a strategic partner.”

He said the partnership between ACCI and Dangote has contributed to creating opportunities for businesses and entrepreneurs while supporting trade, investment and sustainable economic development.

Adesugba further expressed the Chamber’s appreciation for Dangote’s longstanding relationship and partnership with ACCI, describing the collaboration as an important platform for strengthening the business community and advancing economic opportunities.

The Dangote Special Day brought together business leaders, government representatives, investors, exhibitors, entrepreneurs and other stakeholders as part of activities at the ongoing Abuja International Trade Fair.

The event provided an opportunity for stakeholders to engage on issues around taxation, trade, industrialisation, investment, domestic production and the broader prospects for Nigeria’s economic development.

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Police high command mobilise to rescue 20 NYSC members abducted in Imo

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The Inspector General of Police (IGP) Olatunji Disu, has deployed the Deputy Inspector-General of Police (DIG) in charge of Operations, Shehu Umar Nadada, to Imo State to provide operational leadership and strengthen ongoing efforts to rescue the 20 prospective National Youth Service Corps (NYSC) members and other passengers abducted along the Owerri-Onitsha Road at Umunoha on October 1, 2026.

Force Public Relations Officer, Force Headquarters, CSP Anietie Iniedu, disclosed in a statement on Friday that DIG Nadada arrived Imo State alongside two Commissioners of Police and immediately carried out an on-the-spot assessment of the security situation and the search-and-rescue operations being coordinated by the Imo State Police Command.

During the visit, the DIG reviewed operational strategies, personnel deployments, and the utilization of security assets. He also issued fresh directives aimed at enhancing the effectiveness of the coordinated rescue mission.

The assessment was conducted in the company of the Commissioner of Police, Imo State Command, CP Audu Garba Bosso; the Commissioner of Police, Federal Operations, CP Akpan Anifiok; the Commissioner of Police in charge of the Police Mobile Force, CP Nendel Joseph Gomwalk; other service commanders; and members of the Imo State Police Command management team.

According to Iniedu, the police have intensified the search operation, deploying additional tactical teams and operational resources to identified locations.

He said the operation was being reinforced through intelligence-led efforts to track the abductors, alongside coordinated operations with other security agencies.

Nadada, according to the statement, assured members of the public that the police would continue working to secure the safe release of those abducted.

“The Nigeria Police Force is committed to securing the safe rescue of the 20 abducted persons and will sustain the operation until the mission is successfully concluded,” Iniedu quoted Nadada as saying.

The DIG appealed to members of the public and the media to remain calm and vigilant, while urging anyone with credible information that could assist the rescue operation to report to the police or the nearest security formation.

“All information received will be treated with strict confidentiality,” he said.

The police said further information on the rescue operation would be made available as developments unfold.

 

 

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Fubara presents staff of office to new Opobo king as monarch pledges to unite community

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Photo caption: Governor of Rivers State, His Excellency, Sir Siminalayi Fubara (right) presenting the Staff of Office to His Majesty King Charles Douglas Mac-Pepple Jaja Jeki VI (left),the newly crowned Amanyanabo of Opobo Kingdom at Government House Port Harcourt on Friday.

 

Governor of Rivers State , His Excellency, Sir Siminalayi Fubara, on Friday formally presented the Certificate of Recognition and Staff of Office to the new Amanyanabo of Opobo Kingdom, His Majesty King Charles Douglas Mac-Pepple Jaja, Jeki VI, urging the new monarch to promote peace, unity and inclusiveness in the kingdom.

The governor while congratulating the new monarch, for successfully scaling the hurdles of selection and coronation, urged the royal father to see contenders who lost out of the selection process, not as victims but as comrades who must be carried along for the kingdom to move forward during his reign.

Speaking during the presentation ceremony in Government House, Port Harcourt, Governor Fubara apologized for his absence at the coronation, explaining that it was due to a call to higher national service, but that his spirit and soul were fully with the kingdom throughout the process.

He declared that history will remember his administration for peacefully laying to rest the late King, Douglas Dandeson Jaja, and mid-wifing the emergence of a new monarch without litigation.

The Governor, who said he remains one of the proudest persons on earth for the success of the transition, disclosed that the late king’s stool was enmeshed in a legal battle that lasted over 27 years, and that it took the wisdom and deliberate intervention of his administration to manage the selection process to avoid another round of court cases.

He emphasized that contrary to insinuations by mischief makers who tried to politicise his absence, his government was fully responsible for the entire process from burial of the late king to the coronation and recognition.

“Our presence was not just in that process alone. Every logistics that were required, there is nobody that can say he’s the one that did it. We did it. So, that is also a key issue in the process. So, for those people who like using everything for politics, my absence was not an intentional thing; it was a call to service. So the fact that I was unable to make it doesn’t mean that I do not value, appreciate or support the process,” Governor Fubara said.

He said the true test of kingship is in the management of success, and prayed that the new reign will usher in greater development in education, healthcare and small businesses, which he said remain the only sustainable antidotes to the growing criminality among youths.

The Governor, who described Opobo as one of the most peaceful Local Government Areas in the State, charged the new king to maintain zero tolerance for criminality, to be intentional and decisive in protecting the kingdom, and not to compromise on security on the grounds of kinship.

Governor Fubara assured the monarch of the continuous support of his administration both in and out of office, while also charging the Alapu Council to guide the king and the titled citizens to redirect their purpose from mere ceremonial uniformity to initiating tangible development projects that will be visible in the kingdom within the next one year.

In an acceptance speech, the newly installed Amanyanabo of Opobo Kingdom, His Majesty King Jaja Jeki VI, pledged to build Opobo on the pillars of service, inclusion and vision, in honour of the legacy of the great King Jaja who founded the kingdom 156 years ago with trade and diplomacy.
Describing the Staff of Office as more than a symbol of authority, the monarch said it represents a sacred trust from the government and people of Rivers State to lead with justice, peace and dignity.

In a statement, Onwuka Nzechi, Chief Press Secretary to Governor Fubara, quoted the monarch to have expressed deep gratitude to God, the ancestors, Governor Fubara, the Opobo Council of Alapu, titled citizens, elders, women and youths for the confidence reposed in him to lead Opobo into its Sixth Chapter.
The new king assured the Rivers State Government that under his reign, Opobo Kingdom will remain a dependable partner for peace, development and unity of Rivers State.

 

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