Business
Stakeholders Relaunch “NIMAREX” Africa’s Biggest Maritime Event
The Federal Government has also been advised to ensure implementation of decisions taken at NIMAREX 2024.
Stakeholders in the Nigerian Maritime industry have brought back their annual conference and exhibition, called Nigeria Maritime Expo Annual International Exhibition and Conference (NIMAREX) .
During the event held on Wednesday at the Radisson Blu Hotel in Lagos, the President , Nigeria Ship Owners Association of Nigeria and converner of Nimarex 2024 , Otunba Sola Adewunmi called for the government /private partnership , synergy and collaboration of all stakeholders to bring back NIMAREX which he described as Africa’s biggest maritime event.
“As we embark on this new chapter, it is crucial that we all recognise NIMAREX as our event — a true umbrella that brings together all maritime associations, fostering unity and cooperation across the entire industry.
This is not just an event . It is an event for every stakeholder in the maritime sector; together, we can make NIMAREX a rallying point where our shared interests are promoted, our challenges are addressed, and our future is shaped .
The Chairman, Ports Consultative Forum, Bolaji Sunmola also urge stakeholders at the meeting to ensure that 2024 Edition of NIMAREX gets the attention and commitment of all stakeholders and is inline with the key objectives of President Tinubu’s Administration on the creation of Marine and Blue Economy Ministry.
Other Participants at the inaugural meeting want NIMAREX 2024 to be a great opportunity to provide a viable structure and framework that will promote business and engineer development in the industry.
Participants at the inaugural meeting called for the set up of various committees amongst stakeholders to organise and ensure the success of the conference .
The Federal Government has also been advised to ensure implementation of decisions taken at NIMAREX 2024.
Effective implementation of decisions taken at NIMAREX stakeholders believe would ensure foreign and local networking, ensure foreign Direct investments and fast track development in the maritime sector.
The inaugural meeting of NIMAREX 2024 was attended by representatives of Ship Owners Association, National inland waterways Authority, Nigeria customs service, Nigeria Shippers council Nigeria ports consultative council, Representatives from the media, seafarers, Nigeria chamber of shipping, Nigeria Association of Master Mariners, Women in maritime of West and Central Africa, Association of Nigeria licensed customs Agents , chartered institute of logistics and Transport and other stakeholders in the maritime industry .
Business
Court orders NMDPRA to continue issuing fuel import licences to Matrix Energy, AA Rano, AYM Shafa
Matrix Energy, AA Rano and AYM Shafa filed the suit in June. The lawsuit challenges the NMDPRA’s handling of fuel import licences.
A Federal High Court in Abuja has ordered the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to continue issuing fuel import licences and related permits to Matrix Energy, AA Rano and AYM Shafa.
In a ruling this week, Judge Inyang Ekwo of the Federal High Court in Abuja said non-compliance with the PIA and relevant laws would make any regulatory action on import licences legally ineffective.
“The consequences of non-compliance with the PIA and relevant laws make any exercise by the Authority in respect to import licences null and void,” Ekwo said.
Matrix Energy, AA Rano and AYM Shafa filed the suit in June. The lawsuit challenges the NMDPRA’s handling of fuel import licences.
The three marketers told the court they had invested more than $20 billion in infrastructure, logistics and retail networks to support their licensed fuel distribution businesses across Nigeria.
Business
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Business
ON-GOING: Dangote $16 billion refinery groundbreaking holds in Kenya (Images)
Africa’s richest man, Aliko Dangote, and Kenyan President William Ruto are currently breaking ground on a landmark $16 billion oil refinery in Lamu, on Kenya’s northern coast.

The ceremony, held on Wednesday, September 30, 2026, formally launches construction of the 700,000-barrel-per-day facility, which is set to become the largest refinery in East Africa and the second-largest on the continent after Dangote’s plant in Lekki, Nigeria. The project aims to replicate the success of the Nigerian refinery by processing crude for regional markets, reducing East Africa’s long-standing dependence on imported refined petroleum products, lowering fuel costs, and conserving scarce foreign exchange.
Several African leaders are attending the groundbreaking, including the presidents of Uganda and Ethiopia, along with other regional heads of state and former Nigerian President Olusegun Obasanjo. The event underscores growing continental efforts to process raw materials locally rather than exporting crude and importing finished fuels.

Once completed around 2030, the Lamu refinery is expected to supply Kenya and neighbouring countries such as Uganda, South Sudan, Rwanda, and others. Officials project it will create between 50,000 and 60,000 jobs and stimulate related industries, including petrochemicals and bitumen production. The complex will also feature a 1,000-megawatt power plant, with plans to sell a portion of the electricity to the Kenyan government.
Dangote has offered East African governments a combined 30% equity stake in the project. Financing is structured with roughly 70% debt and 30% equity. The facility is located near Lamu’s deep-water port, chosen for its strategic advantages in handling large-scale industrial operations.

While the project has faced some local land-related protests and a court order maintaining the status quo pending a hearing, the groundbreaking is proceeding as planned. Dangote has dismissed the challenges and reaffirmed that construction will move forward, with the plant targeted for completion in under four years.
The development is being hailed as one of Kenya’s biggest infrastructure investments since independence and a major step toward regional energy security and industrialisation.
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Business19 hours agoON-GOING: Dangote $16 billion refinery groundbreaking holds in Kenya (Images)
