The increase marked a significant milestone in the facility’s operational expansion and further cementing its position as world’s largest single train petroleum refinery.

The increase sees the refinery surpass its nameplate capacity of 650,000 bpd, underlining the facility’s engineering capability and operational efficiency.

The achievement demonstrates the refinery’s ability to process additional feedstock while optimizing performance across its production units.

Vice-President for oil and Gas, Dangote Industries Limited, Devakumar Edwin, explained that the ramp-up is part of a broader, ambitious strategy to more than double capacity to 1.4 million bpd within 30 months, positioning the facility as potentially the largest refinery globally.

According to him, the expansion is expected to boost Nigeria’s energy self-sufficiency, eliminate the country’s dependence on imported refined products and strengthen its position as a regional export hub pointing out that the Refinery’s growth trajectory reflects a deliberate move toward continental and global refining dominance, not just domestic supply sufficiency.

Owned by Nigerian industrialist and philanthropist, Aliko Dangote, the refinery commenced fuel production in 2024 and has steadily increased output of petrol, diesel, aviation fuel and other refined petroleum products.

The facility has rapidly established itself as a major supplier to both domestic and international markets, exporting refined petroleum products to several African countries and key European destinations, including the United Kingdom, France, Spain, Italy, and the Netherlands, among others.

It has supplied gasoline to the American market and jet fuel to Saudi Arabia among others.

Dangote Refinery has strengthened its role as a stabilizer in the oil and gas industry given the on-going disruptions caused by the Middle-East tension as a result of which many African countries are now patronizing the Refinery for energy security.

In a further demonstration of its growing global significance, Dangote Petroleum Refinery became the world’s largest exporter of jet fuel in April, according to S&P Global Commodities.

The refinery has played a pivotal role in stabilizing fuel supplies in Nigeria, helping to eliminate dependence on imported petroleum products and easing pressure on the country’s foreign exchange reserves.

Its expansion also aligns with broader national objectives to enhance local refining capacity and maximize value from Nigeria’s abundant crude oil resources.

Growing production volumes have also attracted increased interest from global crude suppliers and commodity trading firms, with the refinery sourcing feedstock from both domestic and international producers to sustain its rising output.

Looking ahead, Aliko Dangote has outlined ambitious plans to transform the facility into the world’s largest refinery by 2028, targeting a processing capacity of 1.4 million barrels per day.

Such expansion is expected to deliver substantial economic benefits, including job creation, increased industrial activity and improved trade balances.

The refinery is also expected to strengthen downstream manufacturing by ensuring a reliable supply of LPG and other key industrial feedstocks, including polypropylene which are widely used in the production of packaging materials and other consumer goods as well as the future plan for the supply of Linear Alkylbenzene (LAB) used in the production of detergents.

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The first phase was a morning clean-up conducted by staff of the Bank on Wednesday, 3 June 2026, along Ajose Adeogun Street, Victoria Island, Lagos.

The exercise mobilised employees to clear waste, sensitise residents on proper disposal practices, and reinforce the Bank’s culture of community service and environmental stewardship.

The second phase, on Thursday, 4 June 2026, featured a waterways clean-up at the Falomo Waterways, Ikoyi, Lagos, executed in collaboration with the Lagos Waste Management Authority, LAWMA, and the Lagos State Waterways Authority, LASWA.

The joint effort focused on removing marine debris, promoting cleaner waterways, and supporting the State’s broader climate-resilience agenda.

Speaking on the initiative, Dame Dr. Adaora Umeoji, Group Managing Director/CEO of Zenith Bank Plc, said: “At Zenith Bank, sustainability is integral to how we operate. Clearing our streets and our waterways is a practical reminder that protecting the environment is a shared responsibility – and one we are proud to take up alongside LAWMA and LASWA. Through these exercises, we are taking deliberate action to preserve our communities, support climate action, and inspire others to act. Our operations will continue to align with global environmental standards as we build a more sustainable future for Nigeria and Africa.”

Zenith Bank remains committed to embedding Environmental, Social and Governance, ESG, principles across its operations, investing in green initiatives, energy efficiency, and community-focused programmes.

These efforts advance the United Nations Sustainable Development Goals – particularly SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities) and SDG 13 (Climate Action).

Sustainability remains an operational imperative across the Bank’s Nigerian base and its broader African, UK and European footprints.

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TAJBank Limited, Nigeria’s innovative-driven non-interest bank (NIB) has maintained its lead position as Nigeria’s biggest ethical bank based on the approved statements of financial positions of the NIBs by the regulatory authorities at the end of 2025 year.

The latest data from the FY2025 statement of the financial position of TAJBank, showed that the non-interest lender had consolidated its frontline position in the subsector based on Gross Assets and Profit values as well as in other Key Performance Indicators (KPIs) ratings during the year.

Specifically, in the year under review, TAJBank’s Total assets grew to N1.34 trillion from N953 billion in the preceding year, representing 41% growth; Gross earning assets surged to N847.706 billion, from N467.377 billion in FY 2024, indicating 81% surge; while Total Equity surged to N149.230 billion, reflecting 144% growth over the N61.250 billion in FY 2024.

A further analysis of the TAJBank’s FY2025 approved financial statement indicated that it posted N132.563 billion in Gross earnings, representing 71% growth over the N77.550 billion in the previous year; Earnings value of N1.037 trillion; while its Profit Before Tax (PBT) rose by 74% to N31.562 billion in FY 2025, from N18.166 billion in FY2024; and the Capital adequacy ratio stood at 30%.

Commenting on TAJBank’s during the year under review, a chartered banker and former Director-General of the Chartered Institute of Bankers in Nigeria (CIBN), Dr. Uju Ogubunka, who cited the bank’s KPIs in the financial statement to justify his views, said the bank has made some progress and that its financial performance indicators between 2024 and 2025 suggest that.

Ogubunka, who is the President of the Bank Customers Association of Nigeria (BCAN), expatiated: “For instance, it’s Total Assets grew by as much as 41%; the Gross Earnings and Profit before Tax grew by 81% and 74%, respectively. Similarly, Returns on Assets was upward by a huge 23%. All of these in an economy that has been variously challenged by a multiplicity of factors.

“With all the positives, there is no doubt that the bank’s performance for the 2025 financial year end can be judged to be in the positive and should be encouraged and sustained.

“It is an excellent evidence that the bank is aggressively penetrating it’s targets, especially at the rural areas, and thus contributing to the level of financial inclusion of the people”, he added

In his remarks, the Managing Director/CEO of TAJBank, Mr. Hamed Joda, enthused: “The improving performance of our bank is a clear demonstration of the Board of Directors and management’s strong commitment to making TAJBank the best ethical bank in Nigeria by all assessment parameters.

“We owe our shareholders, customers, regulatory authorities and workers a lot of gratitude for supporting our efforts targeted at transforming TAJBank into a global brand in the ethical banking space in the years ahead”, Joda added.

Speaking on the bank’s financial scorecard in the year under review, the bank’s Executive Director, Mr. Sherif Idi, said: “The FY2025 performance of TAJBank is in furtherance of its corporation vision and mission and I want to assure all our stakeholders, particularly the shareholders and customers, that our bank shall continually promote their interest in line with our corporate shared value always.”

Over the past few years of its operations, TAJBank has been winning local and international awards for its futuristic, innovation-driven, customer friendly and economy growth-supporting ethical banking products and services.

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He disclosed that he divested his stake in Geregu Power Plc specifically to position himself for investment in the refinery’s Initial Public Offering, IPO, which he described as a transformative industrial platform helping to free Africa from decades of reliance on imported petroleum products.

Otedola made the remarks during a visit by the FirstHoldCo leadership team to the 650,000 barrels-per-day refinery and Dangote Fertiliser Limited in Ibeju Lekki, Lagos, where he commended Dangote for building the world’s largest single-train refinery and accelerating Africa’s industrial transformation.

“He is a genius and one of the greatest men to emerge from Africa. What he has achieved is helping to liberate the continent from economic dependency and import reliance,” Otedola said.

“I have visited this refinery more than 25 times, and I have consistently appealed for $100 million worth of shares during the private placement. That informed my decision to sell my stake in Geregu so I can reinvest in the Dangote Petroleum Refinery.”

Otedola also expressed strong confidence in the Group’s planned expansion of refining capacity to 1.4 million barrels per day, noting that Africa’s growing demand for refined petroleum products clearly supported further investment in domestic refining infrastructure.

In his remarks, President of Dangote Group, Aliko Dangote, assured that the refinery’s IPO would be broadly inclusive, enabling ordinary Nigerians to become part-owners and benefit from its value creation.

He emphasised that the Group was committed to democratising access to investment opportunities by opening participation to retail investors across Nigeria and the African continent.

“We want ordinary Africans to participate in the value being created,” Dangote said. “What companies like Amazon and Apple achieved globally in terms of wealth creation is what we seek to replicate in Africa. We want people to invest, grow with us, and share in the prosperity.”

Dangote further disclosed plans for a proposed East Africa refinery with a projected capacity of 700,000 barrels per day, alongside polypropylene and base oil production facilities.

According to him, the project could commence within the next three to four years once construction begins.

He noted that the initiative was not originally captured in the Group’s Vision 2030 strategy, underscoring the company’s trajectory toward exceeding its long-term growth targets.

Chief Executive Officer of FirstBank Group, Olusegun Alebiosu, described the refinery as a symbol of vision, courage, and industrial ambition capable of inspiring similar investments across Africa.

“If you see this refinery and realise that an individual conceived and delivered a project of this magnitude, already helping to stabilise energy supply across Africa, you cannot help but be inspired,” Alebiosu said.

“We have delegates here from the United Kingdom and several African countries who will return home with renewed commitment to building industries that can transform their economies. It is about building Africa together.”

Dangote also highlighted the Group’s sustained leadership across its core businesses over the past five years, including cement operations in 11 African countries, alongside significant investments in refining, petrochemicals, and fertiliser production.

He noted that cement capacity has expanded to 55 million tonnes per annum, supported by the development of clinker export terminals to strengthen regional trade.

“We have built businesses that address Africa’s critical needs and create long-term value for the continent,” Dangote said. “Africa must stop exporting raw materials and importing finished goods. That amounts to exporting jobs and importing poverty.”

He added that investor appetite for the refinery’s listing on the Nigerian Exchange had remained exceptionally strong, with demand for the private placement already exceeding $2 billion.

“There is significant interest in both the IPO and the private placement,” he said. “While we are not able to meet all requests, the strong demand reflects investors’ confidence in the refinery and in Africa’s industrial future.”

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The competition is a nationwide engineering, innovation and entrepreneurship competition launched in 2025 by a non-profit organisation, Enactus Nigeria, in partnership with the Nigerian Content Development and Monitoring Board, NCDMB, Renaissance Africa Energy Company Limited, First Exploration & Petroleum Development Company and the Nigerian Society of Engineers, NSE.

The two teams eclipsed their counterparts from the Igbinedion University, Okada, Edo State, Federal University of Petroleum Resources, FUPRE, Effurun, Delta State, and University of Uyo, Uyo, Akwa Ibom State, in the competition, where they showcased hardware and software prototypes developed to serve as innovative solutions to real-world challenges, with specific reference to Nigeria and Africa.

From Team PROTRONICS was KEYTRIC, which the group presented as “SMART POWER CONTROL Made Effortless” and “Automating electricity usage using intelligent locking systems.”

For Problem Statement, the Team highlighted high electricity bills, electricity fire risk and expensive smart home, and proceeded to list gaps in existing solutions.

They include costly installation, as change in wiring is required; lack of integration between security and energy, and dependence on the Internet.

The Team’s solution is “A smart energy door lock that switches off a user’s electricity supply when they lock to leave the house.”

According to the students, their solution saves money on electricity bill, reduces the risk of electric fire accident, and is affordable to everyone.

Team VHORDE of the University of Benin made a presentation on what it terms IRIS, Intelligent Real-time Interface for Sight, pointing out that there are 4.5 million visually impaired Nigerians who are in some way incapacitated and unable to live life to the fullest.

The students displayed an IRIS pack, which consisted of TOF sensors, wearable glasses, microphone, camera and Haptic feedback.

On how the IRIS works, the smart glasses, which consist of camera, depth sensor, and edge AI (Artificial Intelligence) processor, enable a visually impaired person to see and understand the world in real time.

There is also an AI Compute Unit, to be worn at the waist, which “runs CNN (convolutional neutral network) object detection, face recognition, and voice processing on-device.”

In a section on Business Model and Revenue Streams, the team indicated production-scale pricing for IRIS Standard as N699,000 (one-time purchase.

IRIS Standard has the following functions: real-time object and scene identification, familiar face recognition, obstacle and hazard detection (haptic wristbands), natural voice interaction, Edge AI – fully offline core functions, and OTA software updates via Wi-Fi.

In an assessment of the prototypes and demonstrations made, one of the key judges of the competition, Engr. Dokubo Obongo, Manager, Institutional Strengthening, at the NCDMB, described all the presentations as “top-notch,” noting that “There are solutions that are viable – marketwise – relevant to our society and the challenges we face.”

He explained that the Engineering Olympiad is “a competition targeted at developing home-grown solutions from research and development from Nigerian universities.”

According to him, “the idea is to see how we can proffer solutions to our own problems,” which means creating business opportunities.

Speaking for Enactus Nigeria, the group’s Country Director, Mr. Michael Ajayi, said the two top finalists from the six geopolitical zones would move to a boot camp for further preparation towards the main national championship, and that the best three teams would share N100 million.

He also disclosed that each of the 30 teams that displayed prototype technology in the regional competition would receive N3 million.

Team PROTRONICS of the University of Port Harcourt has as Team Lead Dr. Victor Jinn (Faculty Adviser), while the contestants were Chukwuma Sunday-Odu, Fubara David Otokini, and Ekemini Godwin Akpan.

Team VHORDE of University of Benin has Anoint Oritsetimeyin Igorki, Oghosa Derick Osarobo, Uti Henry Eworitsewarami, Jada O. Godfrey-Ariavie, Richard O.Enegbuna, Momodu O. Olayemi, and Asemota G. Ayevbosa.

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Shell Nigeria Gas, SNG, recently hosted a Business and Investment Forum in Port Harcourt, bringing together key industry stakeholders to explore opportunities to reduce operating costs, enhance productivity, unlock investment returns, and strengthen competitiveness through the adoption of natural gas.

The forum coincided with the onboarding of two new industrial customers in Agbara, Ogun State—Intercontinental Distillers Limited II, IDL, and Rumbu Industries Limited—into SNG’s expanding gas distribution network.

These additions bring the total number of companies leveraging SNG’s cleaner and more cost-effective energy solutions to over 150, many of whom are already experiencing improved operational efficiency and financial performance.

The event attracted a broad spectrum of participants, including manufacturers, gas users, investors, development agencies, and policymakers.

It aimed to promote sustainable economic growth in Rivers State and the wider Niger Delta region by fostering investment and strengthening collaboration across the energy value chain.

Representatives from prominent institutions attended the forum, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, the Bank of Industry, the Rivers State Investment Promotion Agency, the Manufacturers Association of Nigeria (Rivers and Bayelsa chapters), the Port Harcourt Chamber of Commerce, and the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture.

In a keynote address delivered by SNG’s Head of Gas Distribution, Chukwuka Amos-Ejesi, on behalf of the Managing Director, SNG, Ralph Gbobo, the strategic advantages of natural gas for manufacturers were highlighted.

“Companies that transition to natural gas consistently benefit from lower and more predictable energy costs, reduced exposure to liquid fuel price volatility, enhanced operational uptime, improved planning certainty, and stronger competitive offering for their customers,” he said. “Our focus is to provide solutions that deliver immediate economic value while supporting long-term growth.”

SNG officials also presented insights into the company’s role within the gas value chain, infrastructure footprint, and ongoing expansion plans, particularly in Rivers State.

They highlighted the economic and environmental advantages of natural gas relative to alternative energy sources such as diesel, and outlined emerging investment opportunities in gas distribution, industrial supply, and power generation.

Stakeholders commended SNG for convening the forum, expressing optimism that increased gas adoption could help address longstanding challenges related to energy availability and productivity in the region.

Idaere Gogo Ogan, Board Chairman of the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture, represented by the Board Secretary, Chief Solomon Edebiri, emphasized the transformative potential of gas, noting that over 500 companies in the Niger Delta had ceased operations in recent years.

“Effective utilization of gas can significantly reshape industrial practices and revive business activity in the region,” he stated.

The event also marked the execution of Gas Sales and Purchase Agreements with two customers; Boskel Nigeria Limited and Bluefinn Global Resource Limited in Rivers and Bayelsa State further strengthening SNG’s footprint in the Niger Delta.

Meanwhile, the integration of Intercontinental Distillers Limited II and Rumbu Industries Limited into SNG’s network marks another milestone in the company’s expansion efforts.

The gas supply to these facilities is equivalent to approximately 4MW of electricity, enabling increased production efficiency and reduced operating costs.

These developments stem from a collaborative partnership between SNG, NNPC Gas Marketing Limited (NGML), and the Customer.

According to Gbobo, “These milestones underscore our commitment to expanding our gas distribution footprint, deepening customer engagement, and supporting Nigeria’s industrial growth.”

Executives from the newly connected companies expressed appreciation for SNG’s role in enhancing their operational capabilities and business performance through reliable and affordable energy supply.

Founded in 1998 as a wholly owned subsidiary of Shell, SNG currently provides gas distribution services to industrial customers across Abia, Bayelsa, Ogun, and Rivers States.

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NCC expressed its recognition of the frustration by consumers in a press statement issued on Wednesday by its Head, Public Affairs, Nnenna Ukoha.

“The commission recognises the frustration experienced by consumers when calls drop, internet speeds slow down, data services become unstable, or service disruptions affect daily activities,” NCC said.

It stated that telecommunications services had become central to how Nigerians worked, learn, do business, access essential services, and stay connected, hence they were entitled to reliable service and must receive value for the services they pay for.

It explained that over the past two years, improving Quality of Service had been a central regulatory priority for the Commission, stressing that the NCC had intensified monitoring of Mobile Network Operators, Internet Service Providers and Tower Companies.

In addition, the commission said, it strengthened data-driven oversight, and deepened engagement with relevant public institutions to address structural barriers that affect service delivery. “These measures are intended to ensure that the industry moves towards measurable improvements,” it said.

The commission said the sector was already undergoing one of its most extensive network expansion and modernisation cycles in recent years, following a prolonged period of under-investment.

In 2025 alone, it explained, Mobile Network Operators invested over N2.13 trillion in network infrastructure and upgrades, while Tower Companies invested an additional N373.8 billion across the sector.

“These investments supported the addition and upgrade of over 2,800 telecommunications sites nationwide, addressing coverage and capacity gaps in several locations.

“The interventions include the addition of faster 4G and 5G layers on existing sites, expansion of fibre backhaul to improve site capacity and resilience, targeted deployments in high-demand urban locations, rollout into underserved communities, and general network equipment refresh.

“These investments are welcome, but the Commission’s expectation is that they must translate into visible and measurable service improvements for consumers,” NCC said.

It added that the expansion drive was continuing in 2026 in response to Nigeria’s rapidly evolving digital ecosystem and the exponential growth in data consumption.

The NCC said it had secured industry commitments for the addition and upgrade of over 12,000 sites within the year, of which close to 3,000 have already been delivered.

It stated further that the deployment of next-generation infrastructure is also accelerating, with more than 730 additional 5G sites already deployed across 27 states so far in 2026.

NCC said in addition, and in line with its Spectrum Trading Guidelines, it had facilitated the reallocation of a majority of idle and underutilised valuable radio spectrum among the three major Mobile Network Operators, while also rearranging spectrum blocks to provide contiguity for operators.

The interventions, it said, were designed to improve spectral efficiency, network capacity, and service performance.

The statement reads further:

“The Commission’s Quality of Service and Quality of Experience assessments, conducted using crowd sourced and field-based analytics, show gradual improvements in network capacity, coverage, and average data download speeds across several parts of the country. As subscribers continue to migrate to faster 4G networks, with 4G penetration rising from 45% in January 2024 to 54% currently, national median download speeds have increased from 16.5Mbps to 20Mbps within the same period. Power availability at telecom towers has also improved from a national average of 99.3% in January 2025 to 99.7% currently.

“These improvements are most evident in areas where recent upgrades and new site deployments have been completed. However, the Commission is equally clear that the pace and consistency of improvement must increase, particularly in locations where consumers continue to experience poor call quality, slow data speeds, congestion, and service instability.

“In alignment with government policy to deepen fibre penetration to homes, businesses, schools, and public institutions, the Commission is also at an advanced stage of conducting a market study aimed at creating a wholesale market segment. This will enable smaller and more localised Internet Service Providers to expand service penetration and deliver internet services at lower cost. This complements government-backed initiatives such as Project BRIDGE and other efforts aimed at strengthening Nigeria’s national digital infrastructure.

“The Commission is also addressing persistent external risks that continue to affect network performance, including frequent fibre cuts, vandalism of telecommunications infrastructure, theft at network sites, power-related disruptions, and denial of access for maintenance and operations.

“In 2025 alone, over 27,000 avoidable fibre-cut incidents, primarily linked to road construction and vandalism, were recorded nationwide. Each incident has a direct impact on network performance, service availability, and consumer experience. The Commission is working closely with the Office of the National Security Adviser and other stakeholders to operationalise the Presidential Order on Critical National Information Infrastructure. Through this collaboration, organised syndicates involved in the theft and resale of telecom equipment have been disrupted, while engagement with Federal and State Ministries of Works is putting in place a governance mechanism to reduce avoidable fibre cuts arising from road construction.

“To improve transparency, the Commission has mandated operators to provide timely notifications to consumers whenever there is a major service outage and to restore affected services within defined timeframes. Details of major incidents are also logged on the Commission’s Major Network Outages Reporting Portal at the time of incident: https://uptime.com/statuspage/ncc.

“The NCC continues to hold all key players in the Quality of Service value chain accountable. Under the updated Quality of Service Regulations 2024, which were gazetted in July 2024, Mobile Network Operators and Tower Companies were allowed a defined transition period to order, ship, and install required equipment nationwide to enhance service quality. That transition period was not open-ended.

“The Commission commenced enforcement from November 2025, including consumer compensation measures for poor service quality and additional investment obligations on Tower Companies where performance failures were identified.

“This enforcement will continue, and where operators fail to deliver measurable improvements, the Commission will take appropriate regulatory action, including escalation where necessary.

The NCC commends the Ministry of Communications, Innovation and Digital Economy, the National Assembly, the Office of the National Security Adviser, and other critical stakeholders for their continued support of the Commission’s regulatory mandate. At the same time, the Commission reiterates that addressing the underlying challenges affecting Quality of Service requires a whole-of-society approach.

“We therefore call on all stakeholders—across federal, state, and local governments, as well as host communities—to support efforts aimed at protecting telecommunications infrastructure, facilitating timely access for maintenance, and creating an enabling environment for sustained investment in the sector.

“The NCC remains firmly committed to ensuring that all Nigerians enjoy reliable, affordable, and high-quality telecommunications services. The expectation is clear: the industry must now deliver measurable improvements, and the Commission will continue to enforce compliance in the interest of consumers and the wider economy.”

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At the meeting, the Norwegian investment institution expressed strong interest in partnering with Dangote Group to expand its footprint across the African continent, with a focus on strategic sectors including power, energy, renewables, agriculture, fertiliser and cement.

Also present at the meeting were Svein Tore Holsether, Chief Executive Officer of Yara International, one of the world’s leading fertiliser and agricultural companies, and Terje Pilskog, Chief Executive Officer of Scatec, a global renewable energy company.

The engagement shows growing global investor confidence in Africa’s industrial and infrastructure potential, as well as the increasing role of indigenous conglomerates such as Dangote Group in driving large-scale economic transformation.

For Dangote Group, the potential partnership represents a significant opportunity to deepen its investments across key sectors critical to Africa’s development, particularly in energy transition, food security and industrial capacity expansion.

The Norwegian sovereign wealth fund, widely regarded as a benchmark for global institutional investment, has in recent years shown increased interest in emerging markets, with Africa seen as a frontier for long-term value creation.

The collaboration between the fund and Dangote Group could unlock substantial capital flows into critical infrastructure and industrial projects, further accelerating economic growth and regional integration across the continent.

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Image shows (R-L) Philemon Zoo Zame, Director General, Telecommunications Regulatory Board, Republic of Cameroon, and Aminu Maida, Executive Vice Chairman/CEO, NCC, at the occasion.

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The appointment, which takes immediate effect, has been approved by the Central Bank of Nigeria, CBN, and ratified by shareholders at the Annual General Meeting held on May 5, 2026.

Engr. Bello’s appointment represents a strategic step to ensure the continuity, stability, and sustained effectiveness of the Board, while reinforcing the high standards of corporate governance, regulatory compliance, and strategic oversight for which Zenith Bank is widely respected.

He joined the Board of Zenith Bank Plc on 29 December 2017 and has served on several Board committees, including the Board Audit and Compliance Committee, Board Governance, Nomination and Remuneration Committee and as Chairman of the Board Risk Management Committee until his appointment as Chairman of the Board of Directors.

He has extensive leadership experience at Board and executive levels, a strong understanding of corporate governance principles and regulatory expectations, and a proven track record in strategic oversight and organisational growth.

He has consistently demonstrated integrity, independence and sound judgement, qualities that distinguished him as the natural choice to lead the Board into its next chapter.

Engr. Mustafa Bello is a distinguished engineer, statesman and corporate leader.

His career spans more than four decades across the public and private sectors of the Nigerian economy.

He served as Minister of Commerce of the Federal Republic of Nigeria from 1999 to 2002 under President Olusegun Obasanjo, where he led the development of Nigeria’s WTO-consistent Trade Policy.

He also oversaw the Corporate Affairs Commission, CAC, online project of 2002, which modernised the way businesses register and operate in the country.

From November 2003 to February 2014, he served as Executive Secretary and Chief Executive Officer of the Nigerian Investments Promotion Commission, NIPC, where he was instrumental in attracting foreign direct investment into Nigeria, building multilateral and bilateral partnerships, and representing the Federal Government at international conferences and missions.

He graduated from Ahmadu Bello University, ABU, Zaria, in 1978 with a B.Engr. in Civil Engineering (Second Class Upper Division), winning the Shell Prize for the best project and thesis in the Faculty of Engineering.

He began his career with the Nigerian Army’s Directorate of Quartering and Engineering Service from 1978 to 1979, before joining the Niger State Housing Corporation as a Senior Civil Engineer from 1980 to 1983.

He is currently the Chairman of Invest-in-Northern Nigeria Limited, a special purpose vehicle for the economic and social transformation of the Northern Nigerian economy, and has previously served on the boards of Eskom Holdings Limited of the Republic of South Africa (2004 to 2008) and FrieslandCampina WAMCO Nigeria Plc as an Independent Non-Executive Director.

He is a Fellow of the Nigerian Society of Engineers and a Registered Member of Council for the Regulation of Engineering in Nigeria (COREN) as well as Fellow of the Academy of Natural Sciences & Engineering in Nigeria, ANSEN.

Zenith Bank stands among Africa’s leading financial institutions, with a strong capital base and operations across Nigeria, the United Kingdom, the United Arab Emirates, Ghana, Sierra Leone, The Gambia and Côte d’Ivoire.

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