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Sterling Bank serves Best of Business and Food at 2023 Fair

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As part of its continued commitment to the growth and development of the Nigerian economy, Sterling Bank Limited has concluded arrangements to host a mega business fair during the yuletide. The event will showcase the best of Made by Nigerians (MBN) and Eat Drink Festival (EDF) on the 27th and 28th of December 2023 at the Tafawa Balewa Square, Lagos.

Chief Executive Officer of Sterling Bank, Abubakar Suleiman, emphasized the importance of supporting Nigerian brands and embracing the country’s rich and varied food culture, highlighted the essential role citizens play in this initiative and has invited the public to experience an unparalleled fusion of Nigerian trade and tastes.

Suleiman remarked that, “The bank is supporting the fair as part of its broader mission to promote Nigerian-owned brands. The objective is to empower these brands, facilitate business growth, and contribute to transforming the Nigerian economic landscape.”

Maurice Igugu, Chief Marketing Officer of Sterling Bank, shared his enthusiasm in a statement, revealing that this year’s edition will see the merging of MBN and EDF, and it promises to be a more extensive and impactful showcase of local businesses alongside a diverse food scene.

Last year, Sterling Bank blazed the trail when it hosted the first international fair to showcase the best Nigerian-made goods. During the two-day event, Nigerian businesses successfully connected with a global audience, fostering relationships and igniting growth across the entire supply chain in a vibrant and relaxed setting.

Notably, Sterling Bank has been a consistent sponsor of the Eat Drink Festival because of the festival’s alignment with the bank’s investment strategy in micro, small and medium enterprises (MSMEs) to drive economic growth through the real sector.

The festival aims to curate a distinctive culinary experience featuring the city’s best food and drink brands. Guests will have the opportunity to indulge in a wide selection of offerings from top food vendors and promising Nigerian brands, in an exciting atmosphere with games and great music.

Sterling Bank has also gained acclaim for its support of micro, small and medium-sized enterprises and has recently signed a memorandum to disburse up to N5 billion to small businesses in Nigeria at a single-digit interest rate.

Interested attendees of the fair can register to attend or exhibit by visiting sterling.ng/choplaif or mbn.ng/fair respectively.

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Dangote Refinery to supply 1.5bn litres of petrol monthly

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….Writes NMDPRA, Engages Marketers to Stabilise Fuel Market

Photo caption: L R: Chief Executive Officer, Dangote Fertiliser Limited, Vishwajit Sinha; Chief Executive Officer and Managing Director, Dangote Petroleum Refinery, David Bird; President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.

Dangote Petroleum Refinery has announced plans to supply one billion five hundred million litres of Premium Motor Spirit (PMS) monthly to the Nigerian market in December 2025 and January 2026, a move aimed at ensuring uninterrupted nationwide fuel availability through the festive season and into the New Year.

President and Chief Executive of Dangote Industries Limited, Aliko Dangote, disclosed the plans at the weekend, noting that the refinery will make available 50 million litres of PMS daily beginning December 1.

“In line with our commitment to national wellbeing, and consistent with our track record of ensuring a holiday season free of fuel scarcity, the Dangote Petroleum Refinery will supply 1.5 billion litres of PMS to the Nigerian market this month. This represents 50 million litres per day. We are formally notifying the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of this commitment. We will supply another 1.5 billion litres in January and increase to 1.7 billion litres in February, which translates to about 60 million litres per day,” Dangote said.

Photo caption: L R: President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.

Speaking during a visit by the South-South Development Commission (SSDC) to the refinery and the Dangote Fertiliser complex, he stated that the facility currently has adequate stock and is producing between 40 and 45 million litres of PMS daily. He added that the daily supply of 50 million litres should dispel long-standing claims that domestic refineries lack the capacity to meet national demand.

Dangote also revealed ongoing engagement with petroleum marketers to strengthen distribution systems, including expanding the use of CNG-powered haulage.

“Our priority is to ensure Nigeria receives the products it needs. This is not driven by profit motives; it is about guaranteeing the availability of essential energy products. It is similar to the transformation we delivered in the cement sector,” he added.

He further noted that the refinery is progressing with its expansion plan to reach a capacity of 1.4 million barrels per day. More than 100,000 workers are expected to be involved in the expansion of both the refinery and the fertiliser complex. Dangote emphasised that the Group remains committed to its vision, driven by the strong public support for the company’s role in shaping Nigeria’s economic development.

During the visit, the Managing Director of SSDC, Usoro Offiong Akpabio, commended Dangote’s leadership and his continued contribution to strengthening Nigeria’s industrial capability, national energy security and long-term economic competitiveness.

She described the South-South region as Nigeria’s natural energy corridor, with vast crude oil reserves, gas infrastructure, maritime assets, agro-industrial activity and emerging industrial clusters. She noted that deeper collaboration between the region and the Dangote Group could unlock opportunities in product distribution, CNG infrastructure, petrochemicals, agriculture, and employment creation.

Akpabio added that such partnerships would advance the Federal Government’s energy stability agenda and position the South-South as a strategic growth hub for the Dangote Group.

“As the statutory development body for the South-South, SSDC is mandated to drive regional economic development, infrastructure integration, human capital advancement, and private-sector–led growth. In this regard, we stand prepared to support State-level policy and regulatory support for Ease-of-doing-business across our six states. Enabling environments for Dangote Group’s expansion into strategic sectors such as gas processing, agro-industrial value chains, renewable energy, logistics, and export-oriented manufacturing,” she said.

In a letter from the refinery’s Managing Director, David Bird, to the Authority Chief Executive of the NMDPRA, the company reaffirmed its readiness to host NMDPRA officials onsite at the refinery from December 1st to verify and publish its daily supply volumes. The refinery also sought the Authority’s support to ensure unhindered importation of crude, feedstocks and blending components, as well as smooth vessel loading for product evacuation.

“In the spirit of full transparency to the public we are willing to publish our daily production and stock volumes (online and print media),” Bird stated. “We seek the full support of NMDPRA to allow Dangote refinery to import our crude, feedstocks and blending components unhindered as well as support the lifting of our products by vessel. We continue to experience delays in vessel clearance which impacts not only the refinery operations but also our customers, adding unnecessary costs and inefficiencies”.

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By Bonaventure Phillips Melah

Photo caption: L R: Chief Executive Officer, Dangote Fertiliser Limited, Vishwajit Sinha; Chief Executive Officer and Managing Director, Dangote Petroleum Refinery, David Bird; President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.

Dangote Petroleum Refinery has announced plans to supply one billion five hundred million litres of Premium Motor Spirit (PMS) monthly to the Nigerian market in December 2025 and January 2026, a move aimed at ensuring uninterrupted nationwide fuel availability through the festive season and into the New Year.

President and Chief Executive of Dangote Industries Limited, Aliko Dangote, disclosed the plans at the weekend, noting that the refinery will make available 50 million litres of PMS daily beginning December 1.

“In line with our commitment to national wellbeing, and consistent with our track record of ensuring a holiday season free of fuel scarcity, the Dangote Petroleum Refinery will supply 1.5 billion litres of PMS to the Nigerian market this month. This represents 50 million litres per day. We are formally notifying the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of this commitment. We will supply another 1.5 billion litres in January and increase to 1.7 billion litres in February, which translates to about 60 million litres per day,” Dangote said.

Photo caption: LR: President and Chief Executive, Dangote Industries Ltd, Aliko Dangote; Managing Director and Chief Executive Officer, South South Development Commission, Usoro Akpabio, during the visit of SSDC members to the Dangote Petroleum Refinery and Fertiliser Plant in Lagos on Sunday, November 30, 2025.

 

Speaking during a visit by the South-South Development Commission (SSDC) to the refinery and the Dangote Fertiliser complex, he stated that the facility currently has adequate stock and is producing between 40 and 45 million litres of PMS daily. He added that the daily supply of 50 million litres should dispel long-standing claims that domestic refineries lack the capacity to meet national demand.

Dangote also revealed ongoing engagement with petroleum marketers to strengthen distribution systems, including expanding the use of CNG-powered haulage.

“Our priority is to ensure Nigeria receives the products it needs. This is not driven by profit motives; it is about guaranteeing the availability of essential energy products. It is similar to the transformation we delivered in the cement sector,” he added.

He further noted that the refinery is progressing with its expansion plan to reach a capacity of 1.4 million barrels per day. More than 100,000 workers are expected to be involved in the expansion of both the refinery and the fertiliser complex. Dangote emphasised that the Group remains committed to its vision, driven by the strong public support for the company’s role in shaping Nigeria’s economic development.

During the visit, the Managing Director of SSDC, Usoro Offiong Akpabio, commended Dangote’s leadership and his continued contribution to strengthening Nigeria’s industrial capability, national energy security and long-term economic competitiveness.

She described the South-South region as Nigeria’s natural energy corridor, with vast crude oil reserves, gas infrastructure, maritime assets, agro-industrial activity and emerging industrial clusters. She noted that deeper collaboration between the region and the Dangote Group could unlock opportunities in product distribution, CNG infrastructure, petrochemicals, agriculture, and employment creation.

Akpabio added that such partnerships would advance the Federal Government’s energy stability agenda and position the South-South as a strategic growth hub for the Dangote Group.

“As the statutory development body for the South-South, SSDC is mandated to drive regional economic development, infrastructure integration, human capital advancement, and private-sector–led growth. In this regard, we stand prepared to support State-level policy and regulatory support for Ease-of-doing-business across our six states. Enabling environments for Dangote Group’s expansion into strategic sectors such as gas processing, agro-industrial value chains, renewable energy, logistics, and export-oriented manufacturing,” she said.

In a letter from the refinery’s Managing Director, David Bird, to the Authority Chief Executive of the NMDPRA, the company reaffirmed its readiness to host NMDPRA officials onsite at the refinery from December 1st to verify and publish its daily supply volumes. The refinery also sought the Authority’s support to ensure unhindered importation of crude, feedstocks and blending components, as well as smooth vessel loading for product evacuation.

“In the spirit of full transparency to the public we are willing to publish our daily production and stock volumes (online and print media),” Bird stated. “We seek the full support of NMDPRA to allow Dangote refinery to import our crude, feedstocks and blending components unhindered as well as support the lifting of our products by vessel. We continue to experience delays in vessel clearance which impacts not only the refinery operations but also our customers, adding unnecessary costs and inefficiencies”.

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Dangote expands presence in Africa, signs $1b investment deal for cement, energy in Zimbabwe

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Africa’s richest man and the Chief Executive Officer (CEO) of Dangote Group, Alhaji Aliko Dangote, has signed a deal to invest over $1 billion in cement and energy in Zimbabwe.

Dangote spoke to journalists after meeting with Zimbabwean President Emmerson Mnangagwa in Harare on Wednesday.

The billionaire businessman said he signed an agreement on behalf of Dangote Group to build cement and power plants as well as a fuel pipeline.

“… we have just actually signed an agreement between Zimbabwe and Dangote Group to do various investments in various sectors, some of which, of course, border on cement, some of it in power generation, and some of it in pipelines to bring petroleum products,” he said.

Dangote said the investment will be worth over $1 billion “because of the pipeline”, noting that the group is planning a couple of other investments in the country.

Speaking on governance in Zimbabwe, he said Mnangagwa transformed the economy, adding that “there is a lot of transparency”.

“And also, when you look at what His Excellency has actually done in terms of turning the economy around, that really gave us the confidence that this is the right time for us to come and invest,” Dangote said.

“And, you know, it’s like somebody, when you pass the exam, people have to give you a good mark. So His Excellency has passed that exam.”

Dangote previously expressed interest in similar investments in Zimbabwe in 2015, including plans for his Dangote Cement Plc to build a $400 million plant with a processing capacity of 1.5 million tons annually.

With the latest deal signing, Dangote is adding Zimbabwe to his list of investment destinations across the continent, which includes Ethiopia and Zambia.

On October 5, the Dangote Group commenced the construction of a $2.5 billion fertiliser plant in Gode, Ethiopia.

The project, a joint venture between the conglomerate and the Ethiopian Investment Holdings (EIH), is expected to have an annual production capacity of three million metric tonnes of urea, positioning it among the largest fertiliser complexes in the world.

Dangote Cement had also built a 1.5 million tonnes per annum (mta) plant in Zambia. The plant began operations in the second quarter (Q2) of 2015, according to information on the company’s website.

 

 

 

 

 

 

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