Business

What Dangote tells the Nigerian Society of Engineers about his $20 billion refinery

Honestly, if we had fully understood the magnitude and challenges involved, we may not have even attempted it, but it is because we didn’t know what we were into initially and the courage, or maybe, naivety that got us this far.”

Published

1 year ago

May 20, 2025

OhiBaba

912 Views

Africa’s richest man and industrialist, Alhaji Aliko Dangote, said yesterday he wouldn’t have attempted his $20 billion refinery, if he knew the magnitude of the facility.

He also expressed commitment to empowering Nigerian engineers and building local capacity through large-scale industrial projects.

Dangote, who stated this while receiving a delegation from Lagos branch of the Nigerian Society of Engineers, NSE, at the Dangote Petroleum Refinery at Ibeju-Lekki, Lagos State, said the scale of the refinery was more than initial expectations.

He said: “Honestly, if we had fully understood the magnitude and challenges involved, we may not have even attempted it, but it is because we didn’t know what we were into initially and the courage, or maybe, naivety that got us this far.”

He noted that the refinery was designed to handle massive volumes, with up to 600 product vessels and about 240 crude oil tankers expected annually.

Dangote noted that challenges faced during the construction included working on swampy terrain, extensive land clearing, and dredging 65 million cubic metres of sand from 20 kilometres offshore, adding that all were in an effort to protect local fishing communities.

“We had to uproot thousands of trees manually. Sand-filling alone took 18 months but we made a deliberate decision to preserve the livelihoods of those living nearby, especially fishermen,” he said.

The Chairman, NSE Lagos branch, Mrs Olukorede Kesha, described the refinery as an engineering breakthrough for Africa.

She commended Dangote’s initiative, saying the refinery was the first in Africa.

“The NSE exists to ensure continuous professional development, and this visit is part of that goal.“We have heard so much about the refinery but seeing it ourselves has been extraordinary,’’ Kesha said

Related Topics:Dangote Refinery Featured Nigerian Society of Engineers

Up Next

BREAKING: CBN retains 27.50% interest rate again

Don't Miss

China Eyeing Electric Vehicle Manufacturing in Nigeria

Click to comment

Business

Cybercriminals cloning DStv, other brands to steal bank accounts across Africa

According to cybersecurity company NordVPN, the campaign distributes Remote Access Trojans (RATs) and banking trojans, forms of malware that can give criminals control over infected devices and access to sensitive information.

Published

8 hours ago

August 21, 2026

OCHEFA

11 Views

Cybercriminals are impersonating popular companies and government agencies across Africa in a campaign designed to take over smartphones and bank accounts.

More than 100 fake websites linked to the malware campaign have been identified since August 2025.

Brands including DStv, Takealot and South African Airways, as well as the South African Revenue Service (SARS), are being used to make fraudulent messages and websites appear legitimate.

The attacks are particularly concerning in South Africa, where Android dominates the mobile operating system market.

NordVPN said the attacks typically begin with social engineering, where criminals send convincing messages through SMS, WhatsApp or social media.

The messages may contain urgent offers or requests involving job opportunities, tax refunds, identity renewals or pension verification.

Victims are then directed to fake websites designed to closely resemble the official websites of trusted organisations.

The sites encourage users to download an Android application. Once installed, the malicious software can operate quietly in the background, including after the smartphone is restarted.

Business

Cement price hits N16,000 per bag

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

Published

8 hours ago

August 21, 2026

OCHEFA

17 Views

• Chairman of BUA cement, Abdul Samad Rabiu (ASR)

Cement dealers across Nigeria have announced fresh price increases, with a 50kg bag now selling for as much as N16,000 in some markets, up from N13,000 recorded by buyers just days earlier.

The current cement prices mark a steep rise from late 2024, when a bag sold for around N7,500.

By the third quarter of 2025, that had risen to about N9,000 before reaching the N12,000 to N16,000 range now seen across different locations.

Other building materials have followed a similar upward path. Blocks have climbed from around N600 to N1,100 each.

Sand has gone from N165,000 to N250,000 per 30 tonnes. Granite has risen from N530,000 to N780,000 per 30 tonnes.

Reinforcing steel now costs N1.15 million per tonne, up from N850,000.