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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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“Only 37% of Nigerian roads are in good condition ” – MAN

The Nigerian government holds the primary responsibility for creating an enabling environment to unlock the manufacturing sector’s potential.

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L-R: MD Coleman Wires and Cables industries limited, Mr. George Onafowokan, DG MAN, Mr. Segun Ajayi-Kadir, and Mr. Adetunji Aderinto, founder Zetamind consulting limited at a conference organized by Business Day in Lagos on Thursday.

“Only 37 percent of Nigerian roads are in good condition, which continues to increase production and transportation costs, making Nigerian products less competitive.”

“Segun Ajayi-Kadir, the Director – General of the Manufacturers Association of Nigeria (MAN), gave this statistics during the 2025 Manufacturing Conference organized by BusinessDay in Lagos, with the theme: “Unlocking Nigeria’s Manufacturing Potential: Strategies for Sustainable Growth Amid Economic Turbulence.”

Ajayi-Kadir noted that while recent improvements in infrastructure is commendable, there’s need for investing significantly in critical transport infrastructure — roads, ports, and industrial corridors — to reduce logistics bottlenecks and improve market access.

He stated, “The Nigerian government holds the primary responsibility for creating an enabling environment to unlock the manufacturing sector’s potential.

This requires strategic action across infrastructure, fiscal policy, and regional integration.”

Ajayi-Kadir acknowledged the passage of four tax reform bills aimed at streamlining the tax system and praised the government’s “Nigeria First Policy.”

However, he emphasized the need for swift and effective implementation.

He further recommended making the Nigeria First Policy a binding law, with penalties for violators, to ensure transparency, public awareness, and enforcement.

Ajayi-Kadir further called for establishing structured platforms for regular consultations with manufacturers to align policies with industry needs.

“There is need for setting up systems for timely and relevant export data sharing through embassies, trade attachés, and relevant agencies to help manufacturers access global markets.

Also ensuring consistent and transparent policy-making to boost investor confidence and foster long-term growth.”

The Managing Director of Coleman Wires and Cables Industries Limited, Mr. George Onafowokan, noted that more foreign investors are entering Nigeria to establish businesses despite prevailing economic challenges, even as some local businesses continue to complain about the operating environment.

He urged Nigerian manufacturers to look inward and explore the abundant opportunities within the country to boost their enterprises.

In the same vein, Adetunji Aderinto, founder of Zetamind Consulting Limited and a fellow panelist, remarked that foreign investors often recognize prospects in the Nigerian market that many local manufacturers overlook.

He advised manufacturers to reduce costs through technology adoption and data utilization.

“Some manufacturers shut down operations because they don’t understand what their customers need. They need to increase market share and strengthen their supply chains,” Aderinto added.

The Director -General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Mr. Olusola Obadimu, called on the Federal Government and the Central Bank of Nigeria (CBN) to take urgent steps to curb inflation.

He also urged state governments to focus more on people-centric development rather than internally generated revenue alone.

The panelists collectively encouraged Nigerians to patronize locally made products and commended the Federal Government’s efforts in promoting the “Buy Nigeria” campaign.

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Complete List of Documents You Need to Buy Land in Lagos by Dennis Isong

And if you’re serious about doing it right, reach out to someone who knows the Lagos real estate landscape like the back of his hand. Someone like, well… me.

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Always confirm documents from the Lagos State Land Registry and avoid cash-only deals without paperwork.

Buying land in Lagos can be a rewarding move—whether you’re planning to build a home, invest for the future, or start a commercial project.

But while the opportunities are exciting, the process isn’t as straightforward as just paying and getting a receipt.

Lagos, like many parts of Nigeria, has its peculiar legal and property documentation system, and understanding this system can be the difference between owning your land and losing your hard-earned money.

If you’re thinking about land ownership in this dynamic city, then knowing the documents you need to buy land in Lagos is not just helpful—it’s essential.

These documents are your only legal shield in a city where land disputes and multiple claims are far too common.

Let’s break it all down in a way that’s easy to understand.

First Things First: Why Documentation Matters

In Lagos, land ownership is often a maze.

There’s family land, government-acquired land, excised land, and committed land. Many buyers have found themselves entangled in court cases or financial loss simply because they didn’t know what papers to ask for.

Documents give your land transaction structure and legality. Without them, your ownership is shaky at best and fraudulent at worst.

Now let’s walk through the key documents you must check for—and get—before buying land in Lagos.

The Survey Plan

This is the starting point. A survey plan shows the exact location and measurements of the land. It tells you where the land is and how big it is.

More importantly, it helps confirm if the land falls within a government-acquired or committed area.

Government-acquired lands are off-limits unless the land has been officially released (excised).

A verified survey plan will also tell you whether the land has been registered before.

To be on the safe side, always take the survey plan to a registered surveyor or the Lagos State Surveyor General’s office for charting.

That way, you know you’re not buying into trouble.

The Deed of Assignment

when land changes hands—from seller to buyer—a Deed of Assignment is what captures that transfer.

This document states the details of the transaction: who sold it, who bought it, the size of the land, the location, and the terms of sale.

It must also indicate the history of ownership—how the seller came to own the land in the first place.

This document is legally powerful and must be prepared by a property lawyer. After signing, it should be submitted for Governor’s Consent, which we’ll explain shortly.

A Deed of Assignment without proper registration is like buying a car and not transferring the papers—ownership can easily be disputed.

The Certificate of Occupancy (C of O)

Now, this is one of the most talked-about property documents in Lagos.

The Certificate of Occupancy, often called the “C of O,” is proof that the government officially recognizes someone’s right to occupy a piece of land for 99 years.

If a land has a C of O, it means the land has been titled and recognized by the Lagos State Government.

Not all lands have this document, and that doesn’t always mean it’s illegal—but buying land with a valid C of O is the safest route.

It reduces the risk of future government interference and makes getting loans or building approvals easier. However, it’s important to confirm that the C of O truly belongs to the land you’re buying. Cross-check with the Ministry of Lands to be sure.

The Governor’s Consent

This one often confuses people. If a land already has a C of O and is being sold to someone else, the new buyer must obtain the Governor’s Consent.

Why? Because under Nigerian land law, no land transaction is considered fully legal without the consent of the Governor of the state.

The Governor’s Consent is not a casual formality—it’s a legal requirement. Without it, the sale remains incomplete in the eyes of the law. It’s part of what turns your Deed of Assignment into a fully recognized document.

The Gazette

Now, not all lands in Lagos are initially free from government acquisition. Some are acquired by the government but later released to the original landowners—often communities—through a formal process.

When this happens, the release is published in an official record called a Gazette.

A Gazette shows that the land has been excised, meaning it is no longer under government acquisition and can now be owned and sold legally. If the land you’re planning to buy falls under this category, ask for the Gazette and verify it.

Buying land with a valid Gazette is better than buying land with nothing at all, but still not as solid as a C of O.

The Receipt

Yes, it sounds basic, but the purchase receipt is also important. It shows that money has exchanged hands and helps to track the financial side of the transaction.

It includes the date of purchase, the amount paid, the names of both parties, and the description of the land.

While a receipt alone doesn’t mean you now own land, it complements your other documents—especially the Deed of Assignment.

The Contract of Sale

This is sometimes prepared before the Deed of Assignment. It outlines the agreement between both parties before the land is officially transferred. Think of it as a promise-to-sell document.

It usually spells out payment terms (e.g., installments), timelines, and other conditions of the sale.

It’s useful in cases where payment is staggered over time or where the buyer needs a few months to perfect documents.

However, it is not a substitute for the Deed of Assignment.

Family or Community Consent (if it’s family land)

If you’re buying land from a family or community—which is still common in Lagos—you must get the consent of all principal family members or the land-owning community heads.

This is very important. If just one person signs and others later disagree, your ownership could be challenged.

Many people have found themselves battling “omo onile” (land touts or family claimants) simply because they didn’t get proper family or community consent.

Ensure a family resolution or legal confirmation is obtained.

Government Allocation Letter (for government schemes)

If you’re buying land from a government housing scheme or state-owned development, you’ll receive a Government Allocation Letter. This letter assigns the land to you and states the terms under which you can occupy it.

This letter usually comes before the C of O is issued, and it’s your first legal evidence of land allocation.

It is very common in places like Lekki and other government-developed areas in Lagos.

Conclusion: Don’t Just Buy Land—Buy Peace of Mind

Buying land in Lagos is a serious investment. And while the market is full of promises, it’s also full of pitfalls. Knowing the documents you need to buy land in Lagos can help you avoid heartache and financial loss.

Whether you’re buying land with a C of O, a Gazette, or through a Deed of Assignment, make sure everything is checked, verified, and registered properly.

Don’t just depend on what the seller says. Involve professionals—real estate lawyers, surveyors, and agents who understand Lagos terrain.

Always confirm documents from the Lagos State Land Registry and avoid cash-only deals without paperwork.

The right documents protect your ownership today and into the future.

If you’re ever in doubt, ask questions.

And if you’re serious about doing it right, reach out to someone who knows the Lagos real estate landscape like the back of his hand. Someone like, well… me.

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EFCC boss fingers insider-aided cyber attacks on Nigerian banks

…Bank employees have played a crucial role in granting unauthorized access to hackers operating from countries including the United States and Eastern Europe.

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The Chairman of the Economic and Financial Crimes Commission (EFCC), Barrister Ola Olukoyede, has raised concerns over a wave of sophisticated cyberattacks targeting Nigerian banks, revealing that insiders are collaborating with foreign hackers to siphon off billions of naira.

Olukoyede spoke on TVC News’ Journalists Hangout and disclosed that six commercial banks have been hit by coordinated cyber intrusions involving a syndicate of local and international criminals exploiting internal vulnerability.

He emphasised that compromised bank employees have played a crucial role in granting unauthorized access to hackers operating from countries including the United States and Eastern Europe.

” Once access is gained, the attackers swiftly transfer large sums of money within seconds.

“These are highly coordinated attacks, and insiders play a critical role. In some cases, billions were moved in a matter of moments, but we were able to recover N9.7 billion, N6.7 billion, and N3.7 billion in three separate incidents,” said Olukoyede.

He clarified that while the attacks are severe, the institutions are not to blame. Rather, the breaches stem from the actions of rogue staff.

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