Business
JUST IN: Substandard fuel: NNPC threatens legal action over viral video
The Nigerian National Petroleum Company Limited, NNPCL, has threatened to take legal action over a viral video in which a reviewer claimed its petrol does not last long in vehicles.
NNPC spokesperson Olufemi Soneye issued the threat in a statement on Saturday.
The state-owned oil firm dismissed claims made in the viral video that its product doesn’t last when compared with Dangote Refinery’s petrol.
NNPC described the originators of the viral video as economic saboteurs who are desperate to misinform the public.
“This misleading video represents yet another desperate attempt by economic saboteurs to misinform the public and tarnish NNPC Ltd.’s reputation.
“We will not tolerate deliberate misinformation designed to undermine our operations and mislead Nigerians.
“Henceforth, NNPC Ltd will take firm legal action against individuals or groups who intentionally spread falsehoods about our brand and operations.
“Those engaged in such malicious activities will be held fully accountable under the law,” the statement reads.
NNPCL added that most PMS in its Lagos retail outlets are sourced from Dangote Refinery.
Recall that a viral video of a reviewer claiming that NNPCL petrol products don’t last long as Dangote Refinery went viral on the social media.
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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