Business
650,000 BPD Dangote Petroleum Refinery to be Commissioned On Monday by Buhari
President Muhammadu Buhari is set to Commission the 650,000 BPD Dangote Petroleum Refinery and Petrochemicals on Monday.
A statement by the Dangote Group states that the refinery will be churning out Premium Motor Spirit (PMS), diesel (AGO), aviation jet fuel and Dual-Purpose Kerosene (DPK), among other refined products.
Speaking about the magnificent plant, the CEO Dangote Petroleum Refinery and Petrochemicals, Sanjay Gupta, said “everything in this plant by way of size is the first. It is the largest single-train refinery in the world.
“There is no single column which can process 650,000 barrels per day anywhere else,” he humbly boasted.
The launch of this refinery is expected to take place in Lagos State.
The Special Assistant to the President on Digital and New Media, Tolu Ogunlesi in a tweet earlier in January noted that the “Dangote Refinery and Petrochemical complex in Lekki sits on land that is more than 3 times the size of Victoria Island”.
He added that the fertilizer plant was already producing.
Experts believe that the Dangote Refinery could help achieve macroeconomic stability in Nigeria, however, they say it cannot eradicate all the problems in Nigeria’s oil sector.
The plant which is arguably Africa’s biggest oil refinery and the worlds biggest simple-train facility will no doubt create more employment opportunities for Nigeria’s teeming population.
And while the refinery is a game-changer for the nation’s troubled oil sector, one that will increase human, labor, and capital stock productivity, the experts say Nigeria needs to use its oil revenues wisely, to create a better future, especially as the world is moving toward renewable energy technologies.
Business
Nigerian govt suspends implementation of 15% petrol import duty
The Nigerian government has suspended the planned 15 per cent import duty on premium motor spirit (PMS) and automotive gas oil (diesel). The announcement was made by George Ene-Ita, spokesperson for the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in a statement on Thursday.
The regulator urged Nigerians to avoid panic buying, assuring that there is adequate supply of petroleum products nationwide.
“It should also be noted that the implementation of the 15 percent ad valorem import duty on imported premium motor spirit and diesel is no longer in view,” NMDPRA stated.
The statement added that both domestic and imported supplies of petrol, diesel, and other petroleum products are sufficient to meet demand, especially during the peak period. The authority warned against hoarding, panic buying, or unwarranted price increases, and affirmed that it would continue to monitor supply and distribution closely.
President Bola Ahmed Tinubu had approved the 15 per cent import duty last month to encourage the use of products from Dangote Refinery. While some stakeholders supported the move as a boost for local refining, critics argued it could increase fuel prices and worsen economic hardship for Nigerians.
Business
NAFDAC’s Ban on sachets alcohol: the economy repercussions, by MAN
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
The Manufacturers Association of Nigeria (MAN) has said that the government’s move to ban the production and sale of alcoholic beverages packaged in sachets and small PET bottles, effective December 31, 2025, will have severe repercussions on the economy.
” This announcement by the NAFDAC, in our view, is counterproductive and threatens to disrupt the economy significantly at a time when it is beginning to stabilise,” said the Association through its Director-General, Ajayi-Kadir.
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
• Mass retrenchment of over 500,000 direct employees and approximately 5 million indirect employees through contracts, marketing, and logistics.”
Ajayi-Kadir said that the earlier directive from the Ministry of Health for a one-year extension, which included the consideration and validation of the draft National Alcohol Policy by stakeholders, should have been taken into account before any significant announcement from another government body.
“We believe that a consultation with whether through a public hearing or focused meetings with relevant parties in the alcohol beverage industry, should have been conducted by the appropriate Senate Committee before an outright ban was imposed.
This approach was successfully followed by the House of Representatives in the recent past,” he stated.
Ajayi-Kadir highlighted that issues related to the ban on alcohol in sachets and small PET bottles were addressed by a broad committee that included all stakeholders, along with NAFDAC representatives, who validated the National Alcohol Policy in October 2025. The committee made the following key recommendations:
• Develop multi-sectoral action plans.- Strengthen enforcement by law enforcement agencies
• Establish licensed liquor stores/outlets in Local Government Areas nationwide.
• Increase monitoring and compliance checks by NAFDAC, FCCPC, and others to ensure product quality and safety.
• Regulatory bodies should focus more on regulation, monitoring, and educational campaigns to inform stakeholders and the public about the dangers of underage alcohol consumption and its sale in motor parks.
• Conduct educational campaigns in secondary schools across the country to raise awareness among students about the dangers and issues related to alcohol abuse.
Furthermore, we would like to note that the unfounded and untested claim of abuse by minors has been challenged by several independent studies conducted by the government.
The industry has proactively launched campaigns promoting responsible alcohol consumption to discourage underage abuse, resulting in expenditures exceeding one billion Naira on media outreach across the nation, which has effectively just underage drinking.
Ajayi-Kadir also stressed that the Senate’s directive for an outright ban is unjust and does not reflect the industry’s true conditions, as it seems the upper chamber has only considered NAFDAC’s perspective.
NAFDAC was part of the validation organised by the Ministry of Health, and it should have presented its views to the Committee and the Ministry during that process, rather than circumventing these channels and approaching the National Assembly without consulting other stakeholders.
Business
Following Lagos, FG moves to ban single-use plastics
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
The Federal Government has commenced the process to ban single-use plastics, inaugurating a committee to steer the policy.
Lagos government began fully enforcement ban on single-use plastics (SUPs), including styrofoam packs, plastic straws, disposable cups, plastic cutlery, and nylons less than 40 microns thick, on July 1, 2025.
The Office of the Secretary to the Government of the Federation (SGF) , yesterday , set up an Inter-Ministerial Committee on the Ban of Single-Use Plastics (SUPs).
Earlier, the Federal Executive Council (FEC) during its meeting on June 25, 2024, approved the ban , specifically targeting Polyethene Terephthalate (PET) bottles, styrofoam food packs, plastic shopping bags, sachet water packaging, and plastic straws.
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
He said: “The FEC decision was in line with the Federal Government’s efforts to tackle various health and environmental challenges, especially those caused by single-use plastic products and therefore, approved the ban in the country of polyethene terephthalate (PET) bottles, styrofoam, plastic bags, sachet water and straw, which has become an environmental sanitation challenge.”
-
News3 days agoWike in heated clash with naval officers over Abuja land (Videos & Photos)
-
News2 days agoNduka Obaigbena to Launch Leekeeleekee, A New Media Platform in January
-
Business3 days agoUBA commits $102m direct investments in Chad’s securities
-
News2 days agoLagos govt clears beggars, street occupants along Ketu-Alapere corridor
-
News3 days agoWorld Bank Scores Nigeria’s Poverty Reduction Programmes as Inefficient
-
News2 days agoNMPRDA Urges Nigerians to Avoid Panic Buying of Petrol and Diesel This Season
-
News3 days agoEditors demand 10-year corporate tax relief for the media industry
-
News3 days agoUPDATE: Wike Condemns Military Takeover Of Abuja Land, Orders Halt To Illegal Development
