Business
Dangote Refinery Clarifies Alleged ‘Mass Sack’ in Leaked Memo
The Dangote Petroleum Refinery has responded to recent reports regarding an ongoing internal reorganisation, clarifying that the move is a strategic response to safeguard the facility from repeated acts of sabotage that have posed serious safety risks and disrupted operations.
In an official statement released on Friday, September 26, the refinery management emphasised that the reorganisation was not arbitrary but driven by the need to protect the integrity and stability of what it described as a “strategic national asset.”
“The decision was taken in the best interest of the refinery,” the company noted, citing intermittent cases of sabotage within various operational units, which it said had endangered lives and impacted operational efficiency.
The company reaffirmed its commitment to the safety of its staff and the continuity of its mission to serve Nigerians and Africa’s broader energy needs.
The statement reads: “The Dangote Petroleum Refinery wishes to clarify recent reports concerning the ongoing reorganisation within its facility. This exercise is not arbitrary. It has become necessary to safeguard the refinery from repeated acts of sabotage that have raised safety concerns and affected operational efficiency.
“The foregoing decision was taken in the best interest of the Refinery as result of intermittent cases of sabotage in the various units of the Refinery with dire consequences on human life and related safety concerns.
“We remain vigilant to our internal systems and vulnerabilities to ensure the long-term stability of this strategic national asset. It is imperative to protect the refinery for the benefit of Nigerians, our partners across Africa, and the thousands of people whose livelihoods depend on it.
“Over 3,000 Nigerians continue to work actively in our Petroleum Refinery, at present. Only a very small number of staff were affected, as we continue to recruit Nigerian talent through our various graduate trainee programmes and experienced hire recruitment process.
“We recognise and uphold internationally accepted labour principles, including the right of every worker to freely decide whether or not to join a union. Our commitment to workers’ rights is unwavering.
“The Dangote Petroleum Refinery exists to serve Nigerians, to strengthen Africa’s energy independence, and to create decent, sustainable jobs. We will continue to work in partnership with our employees, regulators, and stakeholders to uphold the highest standards of safety, transparency, and accountability.”
Business
TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.
Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.
The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.
Moniepoint is also the only African company represented on the inaugural list.
Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.
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Business
Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.
The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.
Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline and power plant, and a polypropylene packaging facility, in Ethiopia.
The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.
Developers say the infrastructure will strengthen energy security and improve supply chain resilience for the two countries, he said.
Abiy is on a visit to Djibouti and made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
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