The Nigerian government's plan is to revamp these facilities to store millions of tonnes of grain, supporting farmers and stabilizing food prices. Nigeria has declared two food emergencies in two years.
Monday, October 20, 2025
Video - Nigeria's push to revive silos and combat food insecurity
The Nigerian government's plan is to revamp these facilities to store millions of tonnes of grain, supporting farmers and stabilizing food prices. Nigeria has declared two food emergencies in two years.
Dangote reassures Nigerians of fuel supply amid market confusion and rising prices
The Dangote refinery is advising marketers to come and load fuel from the facility as energy prices continue to soar. The refinery asserts that it has over 310 million liters of premium motor spirit (petrol) in its ranks.
Devakumar Edwin, the vice president of the Dangote Group, made the announcement on Friday while giving a tour of the refinery.
Marketers are free to bring any trucks to the gantry for loading, he said, because the refinery has enough gasoline for both the local and export markets.
He noted that fuel prices in filling stations may have gone up due to the misinformation that the Dangote Refinery had halted the sale of petrol.
“So, this one is again a campaign to try to say the prices will go up. I can go and try to increase my filling station price; maybe Dangote is not supplying.
Bring your tankers. We will load. Any number of tankers you bring, we’ll load. It’s a challenge I’m throwing today. No one can come and tell me I’m not loading.
We can load any number of tankers you bring. So, you can see whether I have the capacity to produce or not. We have more than 310 million litres as of now,” he stated.
“When the prices are a bit low, we buy a lot. When our stocks are going down, we buy a lot.
But at the same time, if your inventory of crude is very high, nobody would like to lock so much money into their tanks, because it’s money locked in the form of crude oil. So, we reduce our inflow, which is what happened,” he added, explaining why the refinery reduced its fuel intake.
In a confusing market shift, fuel prices in Nigeria had gone from around N865 per litre to almost N1,000, especially considering that crude prices and the country’s currency have been stable.
“But here, as I was explaining, I have more than 310 million litres of PMS as of today inside my tanks, apart from the production which is coming out every day,” he emphasised.
Filling stations in states such as Lagos, Ogun, and Abuja increased their pump prices as reported by the Punch.
On Thursday, it was reported that the Dangote oil refinery was reducing crude purchases, signaling ongoing operational issues that could keep global gasoline prices high until 2026.
This was addressed by the group’s vice president during the tour as he stated, “They said we have problems. No factory works 100 per cent every day without a problem. But if there is a problem, whether it is going to affect your final production or not is a key issue. So, normally, all these major businesses have what we call turnaround maintenance.”
However, analysts and tanker-tracking data revealed that the Lagos-based facility is purchasing fewer than 300,000 barrels of oil per day this month, a more than 50% decrease from its July peak and less than half of its projected capacity.
Bloomberg's figures show that both domestic and imported barrels are declining.
Since operations began, the refinery has been plagued by unanticipated outages, workforce interruptions, and equipment maintenance, resulting in frequent output slowdowns.
According to intelligence firm IIR Energy, the refinery's gasoline-making facility, Africa's largest of its kind, has been shut down numerous times this year and may shut down again early next year for extensive repairs.
This month, Dangote will get around 150,000 barrels per day of crude feedstock from a new supply agreement with the state-owned Nigerian National Petroleum Company (NNPC).
The balance is normally derived from the United States, although statistics reveal that no West Texas Intermediate cargoes were acquired in November.
Devakumar Edwin, the vice president of the Dangote Group, made the announcement on Friday while giving a tour of the refinery.
Marketers are free to bring any trucks to the gantry for loading, he said, because the refinery has enough gasoline for both the local and export markets.
He noted that fuel prices in filling stations may have gone up due to the misinformation that the Dangote Refinery had halted the sale of petrol.
“So, this one is again a campaign to try to say the prices will go up. I can go and try to increase my filling station price; maybe Dangote is not supplying.
Bring your tankers. We will load. Any number of tankers you bring, we’ll load. It’s a challenge I’m throwing today. No one can come and tell me I’m not loading.
We can load any number of tankers you bring. So, you can see whether I have the capacity to produce or not. We have more than 310 million litres as of now,” he stated.
“When the prices are a bit low, we buy a lot. When our stocks are going down, we buy a lot.
But at the same time, if your inventory of crude is very high, nobody would like to lock so much money into their tanks, because it’s money locked in the form of crude oil. So, we reduce our inflow, which is what happened,” he added, explaining why the refinery reduced its fuel intake.
In a confusing market shift, fuel prices in Nigeria had gone from around N865 per litre to almost N1,000, especially considering that crude prices and the country’s currency have been stable.
“But here, as I was explaining, I have more than 310 million litres of PMS as of today inside my tanks, apart from the production which is coming out every day,” he emphasised.
Filling stations in states such as Lagos, Ogun, and Abuja increased their pump prices as reported by the Punch.
On Thursday, it was reported that the Dangote oil refinery was reducing crude purchases, signaling ongoing operational issues that could keep global gasoline prices high until 2026.
This was addressed by the group’s vice president during the tour as he stated, “They said we have problems. No factory works 100 per cent every day without a problem. But if there is a problem, whether it is going to affect your final production or not is a key issue. So, normally, all these major businesses have what we call turnaround maintenance.”
However, analysts and tanker-tracking data revealed that the Lagos-based facility is purchasing fewer than 300,000 barrels of oil per day this month, a more than 50% decrease from its July peak and less than half of its projected capacity.
Bloomberg's figures show that both domestic and imported barrels are declining.
Since operations began, the refinery has been plagued by unanticipated outages, workforce interruptions, and equipment maintenance, resulting in frequent output slowdowns.
According to intelligence firm IIR Energy, the refinery's gasoline-making facility, Africa's largest of its kind, has been shut down numerous times this year and may shut down again early next year for extensive repairs.
This month, Dangote will get around 150,000 barrels per day of crude feedstock from a new supply agreement with the state-owned Nigerian National Petroleum Company (NNPC).
The balance is normally derived from the United States, although statistics reveal that no West Texas Intermediate cargoes were acquired in November.
By Chinedu Okafor, Business Insider Africa
Friday, October 17, 2025
Gunmen ambush security patrol in Nigeria’s northwest, killing 8
Gunmen ambushed a security personnel in Nigeria’s northwestern Zamfara state and killed at least eight people, the state’s governor said.
The attack took place Thursday on the Gusau-Funtua road in Zamfara state’s Tsafe area, and killed five police officers and three members of a local paramilitary group that works with the police, Gov. Dauda Lawal said in a statement posted on Facebook.
No group immediately claimed responsibility for the killings.
Such attacks are common in Nigeria’s northern region, where local herders and farmers often clash over limited access to land and water. The farmers accuse the herders, mostly of Fulani origin, of grazing their livestock on their farms and destroying their produce.
In recent months, there has been an increase in attacks by armed groups who kidnap residents for ransom in northwest Nigeria, and particularly in Zamfara state.
“We pray to God to bring an end to this security problem in Zamfara state and Nigeria,” Lawal said on Facebook.
Buhari Morki, a resident of Gusau, told The Associated Press that the gunmen waited in the bushes along the road where law enforcement officials usually patrol.
“The bandits were moving to a community in the area when they saw the patrol,” Moriki said.
Nigeria is also battling to contain Boko Haram insurgents in the northeast, where some 35,000 civilians have been killed and more than 2 million displaced, according to the United Nations.
By Dyepkazah Shibayan, AP
The attack took place Thursday on the Gusau-Funtua road in Zamfara state’s Tsafe area, and killed five police officers and three members of a local paramilitary group that works with the police, Gov. Dauda Lawal said in a statement posted on Facebook.
No group immediately claimed responsibility for the killings.
Such attacks are common in Nigeria’s northern region, where local herders and farmers often clash over limited access to land and water. The farmers accuse the herders, mostly of Fulani origin, of grazing their livestock on their farms and destroying their produce.
In recent months, there has been an increase in attacks by armed groups who kidnap residents for ransom in northwest Nigeria, and particularly in Zamfara state.
“We pray to God to bring an end to this security problem in Zamfara state and Nigeria,” Lawal said on Facebook.
Buhari Morki, a resident of Gusau, told The Associated Press that the gunmen waited in the bushes along the road where law enforcement officials usually patrol.
“The bandits were moving to a community in the area when they saw the patrol,” Moriki said.
Nigeria is also battling to contain Boko Haram insurgents in the northeast, where some 35,000 civilians have been killed and more than 2 million displaced, according to the United Nations.
Thursday, October 16, 2025
Nigeria’s $35m modular refinery scandal deepens as lawmakers launch probe
The project, intended as a 2,000-barrel-per-day modular refinery, was initiated by Atlantic International Refinery and Petrochemical Limited in partnership with the Nigerian Content Development and Monitoring Board (NCDMB) to enhance local refining capacity, create jobs, and deepen indigenous participation in the petroleum industry.
Despite an initial $35 million (₦50 billion) investment made in 2020, the refinery has remained dormant for four years, with no visible progress on the ground.
Reports suggest the project has become the subject of an Economic and Financial Crimes Commission (EFCC) investigation over alleged fraudulent practices.
Raising the alarm during Wednesday’s plenary, Hon. Billy Osawaru, representing Orhionmwon/Uhunmwode Federal Constituency in Edo State, described the situation as “a monumental economic sabotage.”
“Despite this huge investment, enough to fund key components of the national budget, nothing is on the ground to show that any progress has been made,” Osawaru told lawmakers.
He noted that in May 2024, a stakeholder petitioned the EFCC to probe the NCDMB’s multi-million-dollar investments, including the Brass modular refinery.
However, nearly a year later, “nothing has been heard about this profound national waste,” he said.
Osawaru warned that the continued inaction surrounding the project “raises significant questions about the management of public funds and the effectiveness of oversight mechanisms in Nigeria.”
The motion, titled “Need to Investigate the Abandoned $35 Million Modular Refinery Project in Brass, Bayelsa State,” received overwhelming support when Deputy Speaker Benjamin Kalu put it to a voice vote.
Following the resolution, the House referred the matter to its Committees on Petroleum Resources (Downstream and Midstream) for further legislative action. The committees have four weeks to submit their findings.
Across Africa, modular refineries have been promoted as a quicker, cost-effective solution to local refining shortages.
However, the Brass refinery’s fate now serves as a cautionary tale on how governance lapses and corruption can stall industrial progress, even amid the continent’s renewed push for energy self-sufficiency.
Despite an initial $35 million (₦50 billion) investment made in 2020, the refinery has remained dormant for four years, with no visible progress on the ground.
Reports suggest the project has become the subject of an Economic and Financial Crimes Commission (EFCC) investigation over alleged fraudulent practices.
Raising the alarm during Wednesday’s plenary, Hon. Billy Osawaru, representing Orhionmwon/Uhunmwode Federal Constituency in Edo State, described the situation as “a monumental economic sabotage.”
“Despite this huge investment, enough to fund key components of the national budget, nothing is on the ground to show that any progress has been made,” Osawaru told lawmakers.
He noted that in May 2024, a stakeholder petitioned the EFCC to probe the NCDMB’s multi-million-dollar investments, including the Brass modular refinery.
However, nearly a year later, “nothing has been heard about this profound national waste,” he said.
Osawaru warned that the continued inaction surrounding the project “raises significant questions about the management of public funds and the effectiveness of oversight mechanisms in Nigeria.”
The motion, titled “Need to Investigate the Abandoned $35 Million Modular Refinery Project in Brass, Bayelsa State,” received overwhelming support when Deputy Speaker Benjamin Kalu put it to a voice vote.
Following the resolution, the House referred the matter to its Committees on Petroleum Resources (Downstream and Midstream) for further legislative action. The committees have four weeks to submit their findings.
Across Africa, modular refineries have been promoted as a quicker, cost-effective solution to local refining shortages.
However, the Brass refinery’s fate now serves as a cautionary tale on how governance lapses and corruption can stall industrial progress, even amid the continent’s renewed push for energy self-sufficiency.
By Segun Adeyemi, Business Insider Africa
Monday, October 13, 2025
Video - Lagos hosts Africa’s first Electric Powerboat Grand Prix
Lagos staged its first-ever E-1 Powerboat Racing Series, the continent’s debut all-electric championship. The event drew global celebrity-backed teams and large crowds, marking a major milestone for African motorsport and tourism.
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