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Dangote accuses IOCs of plotting for our Oil Refinery to fail

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… laments as Regulator (NMDPRA) continues to grant licences to import banned dirty diesel, jet fuel

Vice President, Oil and Gas at Dangote Industries Limited (DIL), Devakumar Edwin, has accused International Oil Companies (IOCs) in Nigeria of doing everything to frustrate the survival of Dangote Oil Refinery and Petrochemicals. Edwin said the IOCs are deliberately and wilfully frustrating the refinery’s efforts to buy local crude by jerking up high premium price above the market price, thereby forcing it to import crude from countries as far as United States, with its attendant high costs.Speaking to a group of Energy Editors at a one-day training programme, organised by the Dangote Group, Edwin also lamented the activity of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in granting licences, indiscriminately to marketers to import dirty refined products into the country. He said, “the Federal Government issued 25 licences to build refinery and we are the only one that delivered on promise. In effect, we deserve every support from the Government. It is good to note that from the start of production, more than 3.5 billion litres, which represents 90 per cent of our production, have been exported. We are calling on the Federal Government and regulators to give us the necessary support in order to create jobs and prosperity for the nation.”According to him: “While the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) are trying their best to allocate the crude for us, the IOCs are deliberately and willfully frustrating our efforts to buy the local crude. It would be recalled that the NUPRC, recently met with crude oil producers as well as refineries owners in Nigeria, in a bid to ensure full adherence to Domestic Crude Oil Supply Obligations (DCSO), as enunciated under section 109(2) of the Petroleum Industry Act (PIA). It seems that the IOCs’ objective is to ensure that our Petroleum Refinery fails. It is either they are deliberately asking for ridiculous/humongous premium or, they simply state that crude is not available. At some point, we paid $6 over and above the market price. This has forced us to reduce our output as well as import crude from countries as far as the US, increasing our cost of production…“It appears that the objective of the IOCs is to ensure that Nigeria remains a country which exports Crude Oil and imports refined Petroleum Products. They (IOCs) are keen on exporting the raw materials to their home countries, creating employment and wealth for their countries, adding to their GDP, and dumping the expensive refined products into Nigeria – thus making us to be dependent on imported products. It is the same strategy the multinationals have been adopting in every commodity, making Nigeria and Sub-Saharan Africa to be facing unemployment and poverty, while they create wealth for themselves at our expense. This is exploitation – pure and simple. Unfortunately, the country is also playing into their hands by continuing to issue import licences, at the expense of our economy and at the cost of the health of the Nigerians who are exposed to carcinogenic products.”In spite of the fact that we are producing and bringing out diesel into the market, complying with ECOWAS regulations and standards, licences are being issued, in large quantities, to traders who are buying the extremely high sulphur diesel from Russia and dumping it in the Nigerian Market. Since the US, EU and UK imposed a Price Cap Scheme from 5th February, 2023 on Russian Petroleum Products, a large number of vessels are waiting near Togo with Russian ultra-high sulphur diesel and, they are being purchased and dumped into the Nigerian Market.”In fact, some of the European countries were so alarmed about the carcinogenic effect of the extra high sulphur diesel being dumped into the Nigerian Market that countries like Belgium and the Netherlands imposed a ban on such fuel being exported from its country, into West Africa, recently. It is sad that the country is giving import licences for such dirty diesel to be imported into Nigeria, when we have more than adequate petroleum refining capacity locally…” It would be recalled that in May, Belgium and Netherland adopted new quality standards to halt the export of cheap, low-quality fuels to West Africa, harmonising its standards with those of the European Union. These measures synchronise fuel export standards with the European domestic market, specifically targeting diesel and petrol with high sulphur and chemical content. Historically, these fuels, with sulphur content reaching up to 10,000 ppm, were exported at reduced rates to countries like Nigeria and other West African consumers.Belgium’s Minister of Environment, Zakia Khattabi, announced that his country followed the Netherland, which in April 2023 also prohibited the export of low-quality petrol and diesel to West Africa via the ports of Amsterdam and Rotterdam. Khattabi emphasised that the Netherlands’ decision to restrict dirty fuel exports had redirected the trade to Belgium, now used by oil producers and traders to export gasoline with excessively high levels of benzene and sulphur.“For far too long, toxic fuels have been departing from Belgium to destinations including Africa. They cause extremely poor air quality in countries such as Ghana, Nigeria, and Cameroon and are even carcinogenic,” said Khattabi.In September 2017, an investigation by an international organisation, Public Eye revealed that polluted and toxic fuels were being exported on a large scale from the ports of Rotterdam and Amsterdam for export to African markets. As much as a quarter of the petrol and diesel available in West Africa originates from the ports of Amsterdam, Rotterdam, and Antwerp. These fuels contain sulphur and other pollutants, such as cancer-causing benzene, in quantities up to 400 times the limits permitted in Europe. The Netherlands and Belgium were enjoined to enforce regulations to shield millions of Africans from exposure to toxic fuels.The decision of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in granting licenses indiscriminately for the importation of dirty diesel and aviation fuel has made the Dangote refinery to expand into foreign markets. The refinery has recently exported diesel and aviation fuel to Europe and other parts of the world. The same industry players fought us for crashing the price of diesel and aviation fuel, but our aim, as I have said earlier, is to grow our economy.He noted that because the refinery meets the international standard as well as comply with stringent guidelines and regulations to protect the local environment, it has been able to export its products to Europe and other parts of the world.While appealing to the Federal Government and the National Assembly to urgently intervene for speedy implementation of the PIA and to ensure the interest of Nigeria and Nigerians are protected, he said: “Recently, the government of Ghana, through legislation has banned the importation of highly contaminated diesel and PMS into their county. It is regrettable that, in Nigeria, import licences are granted despite knowing that we have the capacity to produce nearly double the amount of products needed in Nigeria and even export the surplus. Since January 2021, ECOWAS regulations have prohibited the import of highly contaminated diesel into the region.”

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Cement: Manufacturers Post N5.8tn Nine Months Revenue

The surge in the revenue is being driven by the increasing prices of cement selling N12,000 to N15,000 between July and September 2026 in Lagos and Ogun States, compared with around N10,000 sold in September 2025.

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The three largest cement manufacturers in Nigeria Dangote Cement Plc, Lafarge Africa Plc, and BUA Cement Plc have reported a combined N5.8 trillion revenue for the nine months ended September 30, 2026.

The surge in the revenue is being driven by the increasing prices of cement selling N12,000 to N15,000 between July and September 2026 in Lagos and Ogun States, compared with around N10,000 sold in September 2025.

THISDAY reported that their unaudited result and accounts, the N5.8 trillion revenue is about 21 per cent increase over the N4.8 trillion revenue reported in nine months of 2025.

A breakdown revealed that Dangote Cement reported N3.8 trillion revenue during the period under review, about 19.6 per cent increase when compared to N3.15 trillion in 2025.

Dangote Cement’s production capacity increased by 9 per cent to 22.1million metric tonnes from 20.2 million tonnes in the corresponding period of 2025. It sold 14.1Mt, up by 6.4 per cent in the period under review. Its average selling price also rose by 9.4 per cent to N170,493 per tonne.

Exports of cement and clinker from Nigeria increased by 41.8 per cent to 1.5Mt, including 26 clinker shipments to Ghana, Cameroon and Ivory Coast. The company’s operations in other African countries sold 9.1Mt, up by 14 per cent. Senegal grew by 30%, Ethiopia by 19 per cent and Tanzania by nine per cent, and a new grinding plant in Ivory Coast sold 0.53Mt. Sales in Ghana and Cameroon were lower.

The first phase of the company’s 6Mt/yr plant at Itori in Ogun state is on track to be commissioned in 2027, part of a plan to increase capacity to 80Mt/yr from 55Mt/yr across Africa.

On its part, BUA Cement posted N1.09 trillion revenue, a growth of 26.5 per cent from N858.72 billion in 2025, while HBM Nigeria declared N928.25 billion revenue, representing an increase of nearly 19 per cent from N780.5 billion in 2025.

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Dangote Says Refinery’s IPO Misses 10 Million Investors Target

According to him, the company is yet to establish the official number of investors who participated in the offer, as the necessary reports are still being compiled.

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Chairman of Dangote Industries Limited (DIL), Aliko Dangote, has disclosed that the initial public offering (IPO) of the Dangote Petroleum Refinery failed to meet its target of attracting 10 million investors.

Dangote disclosed this during the 25th annual conference of the Women in Management, Business and Public Service (WIMBIZ) in Lagos.

Dangote, however, said the public offer recorded significant participation, attracting millions of investors despite not reaching the projected figure.

According to him, the company is yet to establish the official number of investors who participated in the offer, as the necessary reports are still being compiled.

“We cannot tell the figure right away because we have not reported to this, but we’ve gotten an amazing demand from various people,” Dangote said.

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Dangote Rice Mill in Jigawa Begins Processing

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The Jigawa State Government investment tracker has confirmed that the Dangote Rice Mill in Hadin is operational with a processing capacity of 32 tonnes per hour, equivalent to roughly 280,000 tonnes annually.

The commencement of the rice mill is trending on a video shared on X.

The footage comes 12 years after Aliko Dangote committed $1 billion to commercial rice farming and processing across Nigeria

The facility is linked to commercial cultivation schemes around Hadejia and Kafin Hausa.

Dangote Group signed a memorandum of understanding with the Federal Government in August 2014 to invest $1 billion in integrated rice farming and milling across Jigawa, Kebbi, Niger, Kwara and Edo states. Two years later, the company launched an 8,000-hectare rice outgrower scheme in Hadejia, Jigawa State. Participating farmers received improved seeds, fertilisers and technical support, and the company committed to buying their harvested paddy for processing.By February 2017, the outgrower scheme had expanded to 25,000 hectares across 14 states. Dangote set a target of 225,000 metric tonnes of milled rice by the end of that year, with an ambition of reaching one million tonnes annually. Construction announcements followed over several years without matching production results.

Dangote laid the foundation for a processing plant in Hadin, Kaugama Local Government Area of Jigawa State, in March 2018.

The facility was initially designed to handle 16 tonnes of paddy per hour.In July 2025, Dangote said Niger State had joined Jigawa, Sokoto, Kebbi, Kano and Nasarawa as locations with rice mills under construction.

By November 2025, the group outlined plans for mills across five states with a combined annual processing capacity of 1.5 million tonnes.

To secure raw materials, Dangote Rice Limited signed a N1.8 trillion paddy rice supply agreement with Niger Foods Security Systems and Logistics Company in July 2025.

The 10-year deal requires Niger State to develop 25,000 hectares of commercial rice farms and support 50,000 local farmers.

In May 2026, Dangote confirmed the company had committed to purchasing one million metric tonnes of paddy rice from Niger Foods over the life of that agreement.

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