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Dangote refinery: Crude supply crisis threatens oil investments, operators warn FG

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The recent developments in Nigeria’s oil sector, particularly surrounding the Dangote Petroleum Refinery and the broader issues of domestic crude oil supply, have raised significant concerns among industry stakeholders and observers.

  1. Accusations and Denials: The Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin, accused International Oil Companies (IOCs) of deliberately frustrating the Dangote refinery’s efforts to source local crude oil. He alleged that IOCs were inflating prices or claiming unavailability, forcing the refinery to import crude at higher costs from distant countries like the United States. These actions, according to Edwin, hinder the refinery’s viability and perpetuate Nigeria’s dependence on imported refined products.
  2. Response from Government and Regulators: The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) refuted claims of issuing licenses for importing substandard fuel into Nigeria, countering allegations made by Dangote refinery officials. The government emphasized that steps were being taken to ensure compliance with regulations and quality standards in the importation of refined products.
  3. Industry Impact: The Lagos Chamber of Commerce and Industry (LCCI) highlighted the potential damage to investor confidence due to these disputes. They stressed the importance of resolving issues around crude oil pricing, supply contracts, and logistics costs promptly to maintain a favorable investment climate in the oil and gas sector. The chamber called for transparency and fair dealings among all parties involved, urging the government to play a regulatory role effectively.
  4. Investment Concerns: Stakeholders, including modular refinery operators and industrialists, expressed concerns over the implications of ongoing supply disputes on Nigeria’s oil sector investment attractiveness. They emphasized the need for regulatory clarity and fair practices to sustain investor trust and support local refining capacity.
  5. Path Forward: The LCCI advocated for continued dialogue and negotiation among stakeholders to resolve these critical issues. They emphasized the role of effective regulation and adherence to international best practices in fostering a competitive and sustainable oil and gas sector in Nigeria.

In summary, the domestic crude oil supply crisis and related accusations underscore significant challenges facing Nigeria’s oil industry. Resolving these issues requires collaborative efforts among government regulators, IOCs, refineries, and other stakeholders to ensure fair practices, regulatory compliance, and sustainable investment in the sector.

Business

PRovoke Media 2025 Influence 100: Dangote ‘s Anthony Chiejina Ranks Among Most Powerful Global Communications Leaders

This year’s list reflects a powerful cross section of communications leadership from some of the world’s most influential organisations, including Walmart, Apple, Shell, Microsoft, Nvidia, Nissan, Coca Cola, Google, Lufthansa, MTN, Emirates, Ford, Marriott, Tencent and Reliance Industries among others.

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• File Photo: Anthony Chiejina

PRovoke Media has again recognized the Group Chief Branding and Communications Officer, Dangote Group, Anthony Chiejina, among the most powerful communications leaders in the world, in its prestigious 2025 Influence 100.

The recognition marks Chiejina’s fifth consecutive appearance on the global ranking, having previously been listed in 2021, 2022, 2023 and 2024, a rare distinction that underscores both consistency and sustained global relevance.

According to PRovoke Media, the 2025 Influence 100 identifies the most impactful senior communications, corporate affairs and marketing executives worldwide.

It emphasised that Chiejina’s inclusion reflects his central role in shaping the reputation of Dangote Group, Africa’s largest industrial conglomerate.

It notes that for over 15 years, Chiejina has overseen corporate communications across the group’s diverse portfolio, spanning cement, agriculture, energy, manufacturing and consumer goods.

His stewardship has been instrumental in positioning Dangote as the continent’s most admired indigenous company and a symbol of African industrial ambition.

According to the publication, under Chiejina’s leadership, the group’s communications function has navigated complex regulatory environments, major industrial expansions and heightened global attention, particularly as Dangote deepens its footprint across Africa and advances sustainability and energy security initiatives.

” As group head of corporate communications, he oversees external and internal reputation across multiple sectors spanning cement, agriculture, energy and consumer goods, and has helped steer the brand’s continued recognition as the most admired indigenous company on the continent,” it said.

His continued presence places him among an elite group of in-house communicators whose judgement, influence and strategic insight shape corporate reputation at the highest level

According to the publication, under Chiejina’s leadership, the group’s communications function has navigated complex regulatory environments, major industrial expansions and heightened global attention, particularly as Dangote deepens its footprint across Africa and advances sustainability and energy security initiatives.

Meanwhile, the 2025 Influence 100 includes 28 new entrants, alongside several high profile re entries by senior communications leaders who have since taken on expanded global roles.

These include Michael Stewart, who moved from PwC to Unilever; Michael Gonda, from McDonald’s to Nike; and Sandy Rodriguez, also from McDonald’s to Eli Lilly.

This year’s list reflects a powerful cross section of communications leadership from some of the world’s most influential organisations, including Walmart, Apple, Shell, Microsoft, Nvidia, Nissan, Coca Cola, Google, Lufthansa, MTN, Emirates, Ford, Marriott, Tencent and Reliance Industries among others.

In total, 20 countries are represented, highlighting the global reach and strategic importance of senior in house communications leadership.

Gender representation remains strong, with 58 women and 42 men featured, sustaining a female majority for the second consecutive year.

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Beyond GDP, UNCTAD to launch new economic indicators for measuring countries prosperity

Accordingly , a High-Level Expert Group on Beyond GDP, mandated by the UN’s landmark Pact for the Future has been tasked with developing recommendations for a set of universally relevant indicators that countries can own and use to guide policy.

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Photo: UNCTAD Secretary-General Rebeca Grynspan. Credit: UNCTAD

UN Trade and Development (UNCTAD) says a new metrics for measuring countries progress beyond GDP, will be launched during the upcoming UN General Assembly in the spring of 2026.

Accordingly , a High-Level Expert Group on Beyond GDP, mandated by the UN’s landmark Pact for the Future has been tasked with developing recommendations for a set of universally relevant indicators that countries can own and use to guide policy.

UNCTAD serves as co-secretariat to the “Beyond GDP” expert group, alongside other entities including the Executive Office of the UN Secretary-General, the UN Department of Economic and Social Affairs and the UN Development Programme.

This initiative stems from the urgent need for measures of progress that enable more balanced and integrated pursuit of sustainable development.

GDP does not capture progress in well-being, equity, inclusiveness or sustainability – and it was designed as a measure of economic activity.

“Our approach will emphasize how better well-being and its drivers, such as health, social capital and the quality of the environment, are not only good for societal welfare but also contribute in an integral way to economic prosperity,” the interim report argues.

The “Beyond GDP” agenda, increasingly gaining traction among UN member countries, is about complementing traditional economic measures, rather than replacing them.

To do so, five principles are important.

First, countries need to look at more than GDP to gauge material well-being more accurately.Second, it takes more than income to capture all aspects of well-being.

Third, when addressing inequality and exclusion it’s necessary to look beyond average figures.

Fourth, the need to think in the long term, to ensure economic, environmental, social and institutional sustainability for future generations.

In addition, well-being is interconnected across countries in today’s world.

This makes cooperation all the more crucial, in setting global norms of measurement, unlimited to specific countries or regions.

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Flutterwave buys Mono for $40 million

Under the deal, Mono will continue to operate as an independent product, with no changes to its leadership or operations.

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• Flutterwave Nigeria HQ, Lagos

Flutterwave, Africa’s largest fintech company, has acquired Nigerian open banking startup Mono in an all-stock transaction valued between $25 million and $40 million.

The acquisition brings together two major fintech infrastructure players as Flutterwave looks to strengthen its payments stack with open banking, data, and identity capabilities.

Under the deal, Mono will continue to operate as an independent product, with no changes to its leadership or operations.

The transaction allows Mono’s investors to at least recoup their capital, with some early backers reportedly recording returns of up to 20x.

(Nairametrics)

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