IPMAN Applauds Dangote Refinery, Warns Fuel Imports Are Driving Up Petrol Prices

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has applauded the Dangote Petroleum Refinery for ensuring uninterrupted fuel supply across the country while warning that continued fuel imports are pushing petrol prices higher and placing unnecessary pressure on Nigeria's economy.

The association called on the Federal Government to urgently review the fuel import licences recently granted to some petroleum marketers, arguing that the policy has failed to reduce pump prices and instead encourages the importation of more expensive petroleum products.

Speaking in Abuja, IPMAN's National Publicity Secretary, Chinedu Ukadike, said the import regime has become counterproductive, as some importers are proposing to sell Premium Motor Spirit (PMS) at about ₦1,350 per litre, significantly above the ex-depot price offered by the Dangote Petroleum Refinery.

According to him, importing petrol at a higher cost than locally refined products defeats the purpose of promoting competition and protecting consumers from rising fuel prices.

Ukadike stressed that the continued reliance on imported fuel has exposed Nigerians to unnecessary price volatility, while making it increasingly difficult for marketers to plan their operations due to fluctuating import and foreign exchange costs.

He also expressed concern over the quality of some imported petroleum products, alleging that certain fuel imports may not meet Nigeria's required specifications. He urged regulators to strengthen quality control measures to ensure only standard products enter the country.

IPMAN further noted that paying for imported fuel in foreign currency continues to increase demand for the US dollar, placing additional pressure on the naira and contributing to higher petroleum product prices nationwide.

The association maintained that Nigeria's long-term energy security lies in supporting domestic refining. According to IPMAN, greater patronage of locally refined petroleum products would reduce foreign exchange demand, stabilise fuel prices, strengthen the refining industry and create more employment opportunities.

The marketers particularly commended the Dangote Petroleum Refinery for maintaining steady fuel supply despite global geopolitical uncertainties, including tensions involving Iran and concerns over disruptions around the Strait of Hormuz.

IPMAN noted that since the commencement of operations at the Dangote Refinery, Nigeria has experienced improved stability in petroleum product supply, with fewer incidents of prolonged fuel scarcity that previously disrupted economic activities and daily life.

The association therefore urged the Federal Government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and the Nigerian National Petroleum Company Limited (NNPC Ltd.) to prioritise policies that encourage local refining rather than expanding fuel import approvals.

It also called on the Presidential Committee overseeing downstream petroleum sector reforms to engage key industry stakeholders, including the Dangote Refinery, in developing sustainable measures to ensure affordable fuel prices and adequate supply for the domestic market.

According to IPMAN, Nigeria stands to benefit more by meeting local fuel demand through domestic refining while exporting surplus production to earn valuable foreign exchange. Such a strategy, the association said, would strengthen the naira, improve the country's balance of payments and enhance economic resilience.

IPMAN concluded that strengthening domestic refining remains the most sustainable solution to achieving affordable fuel prices, stable energy supply and long-term economic growth, while reducing the nation's dependence on costly imported petroleum products.#

Lagos Governor Sanwo-Olu, Archbishop Martins Lead Tributes as Cardinal Okogie Celebrates 90th Birthday

                 

                           Gov. Sanwo-olu                     

Archbishop of the Metropolitan See of Lagos, Most Rev. Alfred Adewale Martins

Anthony Cardinal Olubunmi Okogie

Lagos State Governor, Babajide Sanwo-Olu, and the Archbishop of the Metropolitan See of Lagos, Most Rev. Alfred Adewale Martins, have paid glowing tributes to the Emeritus 

Arc hbishop of Lagos, Anthony Cardinal Olubunmi Okogie, as he celebrated his 90th birthday, 60th anniversary of priestly ordination, and 55th anniversary of episcopal ordination.

The triple celebration, held at the Holy Cross Cathedral, Lagos, attracted religious leaders, government officials, and faithful from across the country who gathered to honour the renowned Catholic cleric for his decades of service to God, the Church, and humanity.

In a goodwill message delivered by the Secretary to the Lagos State Government, Barr. Bimbola Salu-Hundeyin, Governor Sanwo-Olu described Cardinal Okogie as an iconic religious leader whose life has been marked by selfless service, courage, and dedication to nation-building.

The governor commended the Cardinal's immense contributions to the spiritual, social, and moral development of Lagos State and Nigeria, noting that his unwavering commitment to justice, peace, and the welfare of ordinary citizens has earned him widespread respect and admiration.

Sanwo-Olu also praised Cardinal Okogie for consistently speaking truth to power and serving as a moral compass for society. He prayed for God's continued grace, good health, and strength upon the Cardinal and reaffirmed the Lagos State Government's commitment to partnering with the Church in promoting moral values, social harmony, and human development.

Speaking during the celebration, Archbishop Alfred Martins called on Nigerian leaders to intensify efforts toward ensuring peace and security across the country. He urged government authorities to adequately equip and motivate security operatives while encouraging Nigerians to continue praying for the nation and its leaders.

Archbishop Martins described Cardinal Okogie as a devoted shepherd whose life reflects unwavering commitment to Christ and the Church. He noted that the celebration was not only a milestone event but also a recognition of a life faithfully dedicated to the service of God and humanity.

In his homily, the Archbishop Emeritus of Benin, Most Rev. Augustine Akubeze, praised Cardinal Okogie for his steadfast faith, prophetic voice, and unwavering commitment to justice, truth, and the poor. He prayed for God's continued strength and grace upon the Cardinal as he continues to serve as an inspiration to the Church in Nigeria.

The celebration highlighted Cardinal Okogie's enduring legacy as one of Nigeria's most respected religious leaders, whose contributions to the Church and society continue to impact generations.

Bishop Ighele Calls for Human-Focused Governance

                       Bishop Charles Ighele

The General Superintendent , Holy Spirit Mission, popularly known as Happy Family Nation, Bishop Charles Ighele, has called on the Nigerian government and political leaders to place the welfare and development of citizens at the heart of governance.

Speaking during an interaction with members of the Christian Faith Reporters Association (CFRA) in Lagos, the cleric stressed that the primary purpose of governance is to improve the quality of human life through access to quality education, healthcare, employment opportunities, and other essential services.

According to Bishop Ighele, political campaigns should move beyond promises of basic infrastructure and focus on policies that directly enhance the well-being of Nigerians.

“Anything apart from making the human being the centre of development does not work,” he said. “When God created the world, He created man as the reason for creation. Likewise, man is the reason for governance.”

The cleric argued that amenities such as roads, electricity, and pipe-borne water should no longer be celebrated as extraordinary achievements but regarded as basic responsibilities of government.

“Building roads should be normal. Providing water should be normal. Electricity should be normal. The real issue is improving the quality of human life. Education does not only develop the mind; it helps to produce civilized citizens,” he stated.

Bishop Ighele urged aspiring leaders to centre their campaigns on practical solutions that would improve citizens’ lives and effectively harness the nation's resources for sustainable development.

He expressed optimism that Nigeria could overcome its challenges if leaders and citizens engage in meaningful national conversations aimed at finding lasting solutions. According to him, the country's problems cannot be solved by a single individual but require collective effort and commitment.

Addressing the issue of protests, the cleric said leaders should pay attention to the grievances behind public demonstrations and use them as opportunities to drive reforms and national development.

Drawing lessons from the historical evolution of England, he noted that responsive leadership and people-oriented policies helped address social inequalities and improve living standards.

“The political class should ask themselves: What are the people saying? What is their pain? Why can't we send our children to the same schools attended by ordinary Nigerians? Why can't we use the same hospitals?” he queried.

He maintained that improving the quality of education, healthcare, and employment opportunities would significantly reduce social unrest and public dissatisfaction.

Using Singapore as an example, Bishop Ighele highlighted how visionary leadership focused on creating industries and jobs to secure the future of young people.

“Nigeria has the capacity to create jobs for its citizens. I prefer solutions to endless protests. However, people should not remain silent. Leaders must know that there is hunger, pain, and hardship in the land, and these challenges can be addressed,” he said.

Reflecting on Nigeria's past, the cleric called for a national reorientation programme that would instill values of civility, responsibility, and patriotism among both leaders and citizens.

He further linked the country's security challenges to social injustice, arguing that widespread inequality and poor governance have created fertile ground for crime and instability.

“In every country, there are people with criminal tendencies. But when social injustice becomes widespread, it fuels insecurity and disorder. Through proper leadership, education, and social reorientation, these issues can be addressed,” he concluded.

Bishop Ighele's remarks underscore the growing calls for a governance model that prioritizes human development, social justice, and improved living standards as the foundation for Nigeria's progress.#

Northeast Industrial Crisis Deepens as Insecurity Forces Closure of 60% of Factories — MAN DG

      Dr. Segun Ajayi-Kadir

The Director-General   Manufacturers Association of Nigeria (MAN), Dr. Segun Ajayi-Kadir, has raised concerns over the worsening impact of insecurity on industrial activities in the Northeast, revealing that approximately 60 per cent of industries in the region have shut down operations.

Ajayi-Kadir made the disclosure while receiving members of the Executive Council of the Congress of Industrialists and Corporate Affairs Correspondents Association of Nigeria (CICAN) during a courtesy visit to the association's headquarters in Lagos.

According to him, persistent security challenges, including insurgency, banditry, and other violent crimes, have created a hostile business environment that has forced many manufacturers to either suspend production or relocate their operations.

Insecurity Taking a Heavy Toll on Industry

The MAN Director-General noted that prolonged insecurity has severely disrupted supply chains, increased production costs, and displaced numerous industries that once played vital roles in job creation and economic development across the Northeast.

He explained that many industrial facilities in the region have become inactive, while potential investors remain reluctant to establish new manufacturing plants or expand existing operations due to concerns about the safety of personnel, equipment, and investments.

"The closure and displacement of industries have resulted in the loss of thousands of jobs, increased poverty levels, and reduced economic opportunities for residents of the affected states," he said.

Ajayi-Kadir stressed that sustainable industrial growth cannot thrive in an atmosphere of insecurity and urged the Federal Government and security agencies to intensify efforts to restore peace and stability in the region.

He added that improved security would encourage displaced manufacturers to return, attract new investments, and help revive economic activities across the Northeast.

Call for Targeted Support

Beyond addressing security concerns, Ajayi-Kadir called for targeted intervention measures to support struggling industries. These include improved infrastructure, easier access to financing, and incentives aimed at rebuilding the region's industrial base.

Despite the challenges, he expressed optimism that the Northeast could reclaim its status as a major hub for manufacturing and commerce if security conditions improve and government support remains consistent.

Economic Reforms Showing Early Signs of Progress

The MAN chief commended President Bola Ahmed Tinubu for introducing bold economic reforms aimed at repositioning the nation's economy, noting that some policies have started yielding positive results.

However, he lamented that many Nigerians are yet to fully experience the benefits of these reforms due to the activities of economic saboteurs and other systemic challenges.

He urged Nigerians to embrace aggressive industrialisation as a pathway to reducing dependence on imported goods, strengthening local production, and building a more resilient economy.

Dangote Refinery Eases Pressure on Fuel Market

Ajayi-Kadir also praised the Dangote Petroleum Refinery, describing it as a strategic national asset whose operations have provided significant relief for Nigerians.

According to him, the refinery has helped cushion the impact of global tensions, particularly the ongoing conflict in the Gulf region, which could have triggered sharp increases in domestic petroleum prices.

Tax Reforms Require Careful Implementation

Commenting on the country's new tax regime, Ajayi-Kadir described the reforms as a positive development capable of enhancing the business environment. However, he warned that poor implementation could undermine the objectives of the policy and negatively affect the manufacturing sector.

He reaffirmed MAN's commitment to protecting the interests of manufacturers and advocating policies that address the challenges facing businesses across the country.

Media Remains Key Partner in Development

The MAN Director-General also acknowledged the important role of the media in promoting national development, describing journalists and industry correspondents as critical partners in advancing economic growth and public awareness.

He pledged the association's continued support for CICAN in the discharge of its professional responsibilities.

Earlier, CICAN Chairman, Alhaji Taiwo Hassan, said the visit was aimed at strengthening the long-standing relationship between the association and MAN.

Hassan disclosed that CICAN has concluded plans to intensify the promotion of the Made-in-Nigeria campaign to encourage patronage of locally manufactured products and support indigenous industries.

He noted that the initiative would contribute to job creation, increased industrial productivity, foreign exchange conservation, and overall national economic development.

"As stakeholders in economic reporting, we remain committed to supporting initiatives that promote local manufacturing and strengthen Nigeria's industrial sector," Hassan said. 

Africa’s Largest Bank Backs Dangote Refinery IPO, Pledges Support for Expansion

 

STANDARD BANK (2): Group Vice President, Oil & Gas, Dangote Industries Limited, Devakumar Edwin; Chairman, Stanbic IBTC Holdings, Sola David Borha; Chief Executive Officer, Standard Bank Group, Sim Tshabalala; and Managing Director/Chief Executive Officer, Dangote Petroleum Refinery & Petrochemicals, David Bird, during a strategic visit by Standard Bank Group executives to the Dangote Petroleum Refinery and Dangote Fertiliser complex in Ibeju Lekki, Lagos.

Africa's largest financial institution, Standard Bank Group, has reaffirmed its commitment to supporting the growth of Dangote Industries Limited, expressing readiness to play a key role in the planned Initial Public Offering (IPO) of the Dangote Petroleum Refinery and to finance future expansion projects across Africa.

The commitment was made during a strategic visit by Standard Bank Group Chief Executive Officer, Sim Tshabalala, alongside senior executives, to the Dangote Petroleum Refinery and Dangote Fertiliser complex in Lagos.

Following a tour of the facilities, Tshabalala described the refinery as a transformative industrial project with significant implications for Nigeria’s economy and the broader African continent.

According to him, the Dangote Group has become a major force in Africa’s industrial landscape, making it a critical partner for the bank.

“We are here because the Dangote Group is a large and important global player and a significant force on the African continent,” Tshabalala said. “Standard Bank is the largest financial institution in Africa and we have partnered with Dangote on a variety of initiatives. We are here to lend support, witness this remarkable refinery, and discuss Vision 2030 and how we can continue supporting the Group’s growth ambitions.”

Support for Refinery IPO

Tshabalala disclosed that Standard Bank intends to take a leading role in the refinery’s forthcoming IPO while also providing financial advisory and funding support for future projects.

“As Dangote lists, there is an IPO coming up and we are a leading player in that process,” he said. “As the Group continues to expand in Nigeria and across Africa, there will be opportunities for financial advisory services and balance-sheet support, and we stand ready to provide both.”

He further described the refinery as “a wonder of the world,” citing its contributions to foreign exchange earnings, improved balance-of-payments performance, and enhanced energy security.

“This is a wonder to behold. It is massive, productive and transformative. It is already making a significant contribution to Nigeria’s economy through its impact on foreign reserves, the balance of payments and the lives of ordinary Nigerians,” he added.

Partnership Bearing Fruit

Group Vice President, Oil and Gas, Dangote Industries Limited, Devakumar Edwin, noted that the visit marked an important milestone in a relationship that began during the refinery’s construction phase.

“The bank visited us during construction and understood the scale of what we were building,” Edwin said. “Today, the refinery is fully operational and they can see what their support has helped to create. It is like nurturing a tree and eventually seeing it bear fruit.”

He added that both organisations are exploring opportunities to deepen collaboration as Dangote expands its industrial operations across the continent.

Long-Term Collaboration

Managing Director and Chief Executive Officer of the Dangote Petroleum Refinery, David Bird, highlighted the value of long-term partnerships in delivering projects of such magnitude.

“Standard Bank has been one of our strongest supporters throughout the history of the refinery and the broader Dangote Group,” Bird said.

“This visit was an opportunity to demonstrate what that support has enabled. Seeing is believing, and it allows our partners to appreciate the scale of what has been achieved.”

Refinery Surpasses Design Capacity

The visit also coincided with a significant operational milestone for the refinery. Bird revealed that the facility has exceeded its original design capacity, recently completing performance test runs at 700,000 barrels per day—surpassing its nameplate capacity of 650,000 barrels per day.

“We have always believed there was engineering flexibility built into the design,” he said. “Achieving sustained production of 700,000 barrels per day is a testament to the technical capability of our people and the strength of the systems we have built.”

The achievement underscores the refinery’s growing role in strengthening Nigeria’s energy security, reducing dependence on imported petroleum products, and positioning the country as a major refining hub in Africa. 

GREEN PRINT 2.0: JAWURA,UNION BANK, EXPERTS CALL FOR GREATER GREEN INVESTMENT AND YOUTH-LED CLIMATE ACTION.

 

As the world grapples with the growing challenges of climate change, plastic pollution, and environmental degradation, experts have called for increased investment in nature-based solutions and greater support for youth-led sustainability initiatives.

The call was made during the Green Print Project 2.0 Environmental Fair organized by Jawura Environmental Services Ltd. in Lagos to commemorate World Environment Day 2026.

The event brought together  environmental advocates, financial institutions, academics, government officials, community leaders, students, National Youth Service Corps (NYSC) members, and innovators in the sustainability sector to discuss practical solutions for building a greener and more resilient future.

Investing in Nature is Investing in the Future 

Mrs. Olufunmilola Aluko, Chief Brand and Marketing Officer of Union Bank of Nigeria

Delivering a keynote address titled "Investing in Nature for Tomorrow," Mrs. Olufunmilola Aluko, Chief Brand and Marketing Officer of Union Bank of Nigeria, emphasized that environmental sustainability should be viewed as an investment rather than an expense.

According to her, nature remains the foundation of economic prosperity, public health, and community wellbeing.

She highlighted the growing environmental concerns facing Lagos, particularly plastic pollution, noting that millions of tonnes of plastic waste are generated annually across Nigeria, with a significant percentage ending up in landfills, drainage systems, and waterways.

"There is no economy without ecology," she stated. "The returns on investments in nature will ultimately be enjoyed by future generations, and the responsibility to act now rests with all of us."

Aluko disclosed that Union Bank continues to champion sustainability through strategic partnerships, climate-focused initiatives, and educational programmes designed to empower young people and promote environmental consciousness.

She also revealed that the bank is developing a climate strategy aligned with Nigeria's target of achieving net-zero emissions by 2060, while embedding sustainability considerations into its operations, governance structures, and financing decisions.

Green Economy: A Gateway to Youth Employment

Speaking further, Aluko identified the circular economy and renewable energy sectors as major opportunities for tackling youth unemployment.

She noted that waste management activities in Lagos have already created thousands of green jobs, while the global circular economy continues to emerge as one of the fastest-growing sectors worldwide.

With Nigeria's large youth population, she said the country is uniquely positioned to become a hub for green innovation and sustainable entrepreneurship.

"The young entrepreneurs turning waste into wealth are helping to shape the future economy. They deserve the support of governments, businesses, and financial institutions," she said.

She also stressed the importance of collaboration among governments, regulators, private organizations, communities, and civil society groups in addressing environmental challenges.

Building Resilient Cities Through Collective Action

Managing Director and Chief Operating Officer of Jawura Environmental Services, Mr. Tosin Rowland-Osibanjo,

Earlier, the Managing Director and Chief Operating Officer of Jawura Environmental Services, Mr. Tosin Rowland-Osibanjo, described environmental stewardship as a critical pillar of sustainable development.

He explained that the 2026 World Environment Day theme, "Urbanisation and Climate Change: Building Resilient Cities for a Sustainable Future," reflects the realities confronting Lagos and many rapidly expanding cities across Africa.

According to him, rapid urban growth, climate change, and environmental degradation require urgent and coordinated responses from all stakeholders.

"We have the power to change the current trajectory through collective action, innovation, and environmental responsibility," he said.

Rowland-Osibanjo reaffirmed Jawura's commitment to driving environmental awareness, sustainability education, and practical community-based solutions that promote a cleaner and healthier environment.

Environmental Sustainability Must Become a Way of Life

Also speaking at the event, Professor David Esezobur of the University of Lagos emphasized the need for greater environmental awareness among citizens.

The Professor of Sustainable Extractive Methodology and Advanced Material Processing described environmental sustainability as a lifestyle that must be embraced by individuals, communities, institutions, and governments alike.

He observed that environmental issues are closely linked to public health, education, and economic development, making environmental protection a shared responsibility.

"The environment belongs to us and to future generations. Everyone has a role to play in protecting it," he said.

Professor Esezobur encouraged young people to become ambassadors of sustainability by promoting responsible environmental practices in their homes, schools, and communities.

He further highlighted the importance of tree planting, environmental education, and public awareness campaigns in combating climate change, reducing carbon emissions, and improving public health outcomes.

A Growing Movement for Sustainability

The Green Print Project 2.0 Environmental Fair showcased innovative recycling solutions, sustainability products, and environmental initiatives aimed at inspiring action and fostering partnerships.

Participants agreed that achieving a sustainable future will require stronger investments in green initiatives, greater youth participation, environmental education, and collaborative action across all sectors of society.

As conversations around climate change and environmental resilience continue to gain momentum, one message resonated throughout the event: the future of our cities, communities, and planet depends on the actions we take today.#

AGROFOOD NIGERIA 2026 BREAKS INTERNATIONAL RECORD, RETURNS TO LAGOS BIGGER AND BOLDER

Agrofood Nigeria is set to make history in 2026 as the 11th edition records its strongest international participation ever, reaffirming its status as West Africa’s leading agrofood and packaging business platform.

Scheduled to hold from 24 to 26 March 2026 at the Landmark Centre, Victoria Island, Lagos, the exhibition is expected to attract thousands of industry decision-makers, investors, manufacturers, and solution providers from Nigeria and across the region.

 International Participation

This year’s edition will feature over 100 exhibitors from 14 countries across Africa, Europe, Asia, the Middle East, and North America — marking the most extensive global presence in the event’s history.

Participating countries include:

Belgium, Brazil, China, France, Germany, India, Malaysia, the Netherlands, Nigeria, Poland, South Africa, the United Arab Emirates, the United Kingdom, and the United States.

The exhibition is designed to promote face-to-face engagement, encourage technology transfer, strengthen supply chains, and support informed investment decisions across West Africa’s agrofood ecosystem.

Netherlands Named Guest of Honour

After eight consecutive years of participation, the Netherlands assumes the role of Guest of Honour for 2026.

Led by the Netherlands Consulate-General in Lagos, about 20 Dutch companies will showcase advanced innovations in horticulture, greenhouse systems, seed technologies, food processing, agrologistics, and climate-smart agriculture — reinforcing the country’s reputation as a global agricultural powerhouse.

Strong National Pavilions

Several countries will feature dedicated national pavilions, including:

Belgium/Flanders Pavilion, organised by Flanders Investment & Trade

China Pavilion, featuring over 20 exhibitors in processing and packaging technologies

German Pavilion, supported by the Federal Ministry of Agriculture and industry associations, with companies such as GEA Group and Krones AG showcasing advanced “Made in Germany” solutions

India Participation, highlighting premium agricultural commodities and value-addition solutions

South Africa – Western Cape Pavilion, supported by the Western Cape Department of Agriculture

USA Participation, led by the Food Export Association of the Midwest and Northeast USA, introducing American suppliers to Nigerian buyers

Nigeria will also be strongly represented, with leading local agribusinesses and food processors leveraging the platform to expand partnerships and regional market access.

Bigger, More Targeted Layout for 2026

The 2026 edition introduces an optimised hall structure to enhance visitor experience:

Hall 1: Food + Beverage Technology & Packaging

Hall 2: Agro & Food + Hospitality

Hall 3: Food Ingredients

With thousands of targeted business meetings expected, organisers say the event continues to evolve into a regional hub for agro-industrial innovation and investment.

Nigeria’s Growing Agrofood Market

Industry data highlights the sector’s growth potential:

Nigeria imported €265 million worth of food and packaging technology in 2024.

Packaging technology imports alone reached €121 million.

The Nigerian food market is projected to reach $233.53 billion in 2025, with strong annual growth expected through 2030.

Despite local investments, food imports stood at $6.1 billion in 2023, compared to $2.2 billion in exports.

These figures underscore the urgent need for processing capacity, value addition, and export competitiveness — gaps agrofood Nigeria aims to address.

A Trusted Global Platform

Founded in 1991, fairtrade Messe has organised international trade fairs across Africa and the Middle East, connecting emerging markets with global solution providers. The company is ISO 9001:2015 certified and a member of UFI, The Global Association of the Exhibition Industry.

Event Details

Event: agrofood Nigeria 2026 (11th Edition)

Date: 24–26 March 2026

Venue: Landmark Centre, Victoria Island, Lagos

Summary

With record-breaking global participation, strong institutional backing, and expanded exhibition space, agrofood Nigeria 2026 is poised to deepen international partnerships, accelerate technology adoption, and position Nigeria as a competitive agro-industrial hub in West Africa.#