President Bola Tinubu demonstrated foresight in July 2024, when he approved the use of the naira as the payment currency for crude oil supplied by the NNPC to the Dangote Refinery. Since the launch of the naira-for-crude initiative on October 1, 2024, Nigeria has experienced a strategic breakthrough amid the ongoing economic turmoil resulting from the Iran-Israel-US conflict in the Middle East.

Since its inception, the technical committee on naira-for-crude, which has the Minister of Finance and Coordinating Minister of the Economy, Wale Edun and Executive Chairman of the Nigerian Revenue Service, Zacch Adedeji and others as members, the Federal government has developed a robust framework that has ensured the Presidential initiative continues to deliver on its core objectives by maintaining supply security, stabilising the economy, and safeguarding Nigeria’s energy future.

The US/Israel-Iran war has now entered its 6th week, triggering global economic chaos. With no immediate end in sight, the conflict has been exacerbated by Iran’s closure of the Strait of Hormuz, an important maritime corridor between the Persian Gulf and the Gulf of Oman, that accounts for over 20% of global oil and gas flows. The disruption of this vital waterway has sent shockwaves through energy markets worldwide.

Across Europe, the United States, Asia, Africa, and the Middle East, prices for  LPG, LNG, PMS, and diesel have skyrocketed, placing enormous pressure on households and governments alike. The rising costs of energy have intensified economic strain on many nations, especially those with limited resources, where transportation and basic goods are becoming increasingly unaffordable.

While the cost of PMS and other petroleum products has also gone up in Nigeria, as in other countries, the global energy crisis has not led to a domestic scarcity of petroleum products, unlike in major countries where people are standing in long queues for days at gas stations. Many countries in Europe, Asia, and major African countries, such as South Africa and Kenya, now rely on supplies from Nigeria through the Dangote Refinery.

The Dangote Refinery, located in Lekki, Lagos, has validated the strategic importance of local production and refining capacity for a country as critical as Nigeria, a regional economic powerhouse. There is no doubt that the ongoing conflict in the Middle East has exposed critical vulnerabilities in the global energy supply architecture.

Furthermore, the ongoing crisis has positioned Nigeria as a strategic and credible exporter to Africa – a role with long-term commercial and diplomatic significance as African governments seek more resilient and integrated energy supply arrangements.

The conflict has constrained crude oil and refined product availability, triggering acute shortages and sharply rising energy costs across many markets. Countries that historically depended on the import of refined products are currently experiencing disruptions to their supply chains, with immediate and visible consequences.

A few examples: Vietnam is encouraging people to work from home to reduce transportation costs. The Thai government has ordered civil servants to conserve energy in public buildings and is considering whether to compel private businesses to do the same.

Bangladesh told universities to close early for a holiday and imposed daily limits on fuel sales. Pakistan has implemented emergency measures, including a four-day government work week and temporary school closures, to conserve energy. Indian restaurants are closing their doors due to LPG scarcity. In Egypt, shops and restaurants are mandated to close by 9 pm every day as part of the government’s exceptional measures to combat soaring energy prices. In the Philippines, the government has declared a national energy emergency. In parts of the United States, Americans join long queues to buy fuel.

Fortunately, the Dangote Refinery has largely shielded Nigeria from the worst effects of the global supply crisis. By scaling up production at a critical time before the escalation of the conflict, the refinery has met Nigeria’s refined products requirements.

Even in the face of more attractive export options, the Dangote Refinery committed to prioritising Nigeria’s energy security. This commitment has ensured full availability of petroleum products with zero queues, while other countries grapple with scarcity.

While the price of petroleum products has had to go up, this is being managed to reduce the impact on Nigerians. For example, despite a 10% increase in crude oil prices over the last couple of days, the Refinery has cut petrol prices by 75 Naira per litre. This was done,  even though the refinery is paying an additional premium of up to $18 per barrel for Nigerian crude oil cargoes. This is the benefit of local refining.

The Dangote Refinery is transforming Nigeria into a more resilient and energy‑independent nation, providing all‑year‑round availability of petroleum products and enabling the country to withstand external shocks better. Petrol queues, even during festive seasons,  have disappeared since the Refinery commenced PMS production in Oct 2024. What is perhaps not visible to many Nigerians is how this was achieved while simultaneously eliminating the huge demurrage bill that NNPC used to incur in maintaining safety stock on several floating vessels.

Furthermore, the ongoing crisis has positioned Nigeria as a strategic and credible exporter to Africa – a role with long-term commercial and diplomatic significance as African governments seek more resilient and integrated energy supply arrangements.

Since the conflict began, the Dangote Refinery has ramped up exports to Africa in a bid to help shore up supply across the continent. In March, the refinery exported close to 500,000 tons of refined products to various African countries, generating export earnings for Nigeria.

This underlines the importance of local production and the need for Africa’s industrialisation as championed by the Dangote Group. Not only does local production create and sustain jobs for thousands of people, preserve foreign exchange, and stimulate other sectors of the economy, but more importantly, as we have seen, it insulates the country from global volatility, supply disruptions, and geopolitical risks that continue to batter import-dependent economies in times of stress.

The Dangote Refinery is more than an industrial asset; it is the foundation of Nigeria’s energy sovereignty and a catalyst for sustainable economic growth.

*Ajayi is the Senior Special Assistant, Media and Publicity to President Bola Tinubu.

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The plight of an Okada rider in Nigeria has brought into sharp focus, the impact of the ongoing war between Israel and the United States of America on one hand, and Iran on another, as well as its effects on global economy. The okada man set out on his daily hustle last week, looking for daily bread, but after working for several hours, he was back to square one, as there was nothing to show for his effort, no thanks to the skyrocketing price of Premium Motor Spirit (PMS), otherwise known as petrol.

His day, which began with a visit to a fuel station to buy N5,000’s worth, which could only get him only four litres, turned worse, when after working for just a few hours, the fuel got exhausted, and to his shock, he had only made N5,050. In essence, he made a profit of only N50 after over three hours of work. I don’t know how the bewildered man would present this wild goose chase as his reason for returning empty-handed to his wife and kids eagerly awaiting food at home.

The plight of the Okada rider mirrors what many average people across the world are currently facing. The war in the Middle East is having a devastating impact on global economy. The helpless Okada rider in Nigeria was not consulted when Israel and the USA launched their war against Iran. In actual fact, he is several kilometers away from the theater of the conflict, but its impact is telling on him. How is he going to explain to his wife and kids that the world economy is terribly impacted by a war going on over several kilometers away?

In several cities across the globe, the impact of the war is now being felt in various homes and cities. The price of fuel has risen above 30 per cent, and long queues are back at filling stations in some cities while some countries now ration fuel. If the war mongers had given their actions rigorous thought, perhaps, they would not have embarked on it.

As the war approaches its fifth week, global oil shortages is forcing countries to take severe measures to save their reserves as Iran continues to block oil shipments. While Israel and the US continue their bombardment of Iran, Iran is tightening the noose on the world’s economy by disrupting oil supply chains through the Strait of Hormuz. Even if the war comes to an end and a deal is reached today, unwinding the damage it has caused will take months. Even in the United States, gas prices have reached their highest level in years. The change in oil prices isn’t just impacting drivers alone, as Oil is used to power supply chains; from the machines that manufacture a cell phone to the diesel that powers a truck carrying it to a store.

The oil price increases come even as many Americans are already strained by rising housing costs, high grocery bills, and huge electricity statements. A Gallup poll released last week found that a third of Americans now skip meals and forego other needs just to afford their healthcare needs. Many are wondering whether they did the right thing by electing Donald Trump to office last year for another four-year term. His approval ratings have further plummeted since the war began. In the last few weeks, the average cost of gas in the US has jumped about 30% over the last month, with the national average hitting $3.97, the highest since 2023.

Even diesel, which fuels many of the trucks that transport goods across the nation, has increased further by about 50%, or about $1.69 more than it did a year ago. Higher diesel costs could soon affect transportation costs and, in turn, the cost of groceries, as roughly 85% of agricultural goods are transported by trucks.

In Asia, Africa, and the Middle East, developing economies are bearing the brunt of surging energy costs prompted by the closure of the Strait of Hormuz and attacks on oil and gas facilities across the Gulf region.

From Pakistan, to Bangladesh and Sri Lanka, through to Jordan, Egypt, and Ethiopia, policymakers are facing the double jeopardy of being both heavily dependent on imported energy, and having limited financial firepower to absorb the shock of spiking prices. In Pakistan, which imports about 80 per cent of its energy from the Gulf and has lurched between economic crises for years, authorities have scrambled to roll out measures to conserve fuel.

Facing the depletion of the country’s petrol and diesel reserves within weeks, officials have closed schools, introduced a four-day working week for government offices, ordered half of the country’s public sector employees to work from home, and slashed fuel allowances for official businesses. Pakistani Prime Minister, Shehbaz Sharif, said last week that he had decided against a proposed hike in petrol and diesel prices before the Eid Al-Fitr celebration, saying that the government would “bear the burden” of rising costs. Sharif’s announcement came after the government had earlier this month approved a 55 rupee ($0.20) rise in the price of a litre (0.26 gallons) of petrol or diesel. While government subsidies have helped to cushion the blow for the public, there are fears that petroleum prices will surge and bring economic activities to a halt if the war drags on.

That explains why Trump is desperate to end the war. He doesn’t have much time. The political, economic, and geopolitical stress of the war is building every day. The moment is approaching when he will face the conundrum that has led predecessors astray from Vietnam to Iraq: whether to intensify a senseless war in a quest for a way out. And Trump desperately wants a way out. But the Iranian are not ready. They have insisted that they did not start the war, they would want to have a say on when and how it would end. Iran has lost much of its leadership and military leaders, but the people are resilient and are not yet ready to give the so-called superpowers the satisfaction of ending the war on only their own terms.

Trump has proposed a 15-points plan to end the war with the conditions that Iran gives up its plans to having a nuclear weapon, hand over its enriched uranium stockpiles, end regional proxy groups, and the reopening of the Strait of Hormuz amongst other demands. This is a clear indication that the war has slipped beyond Trump’s control. The Strait, which was open to all tanker traffic when the conflict began has now become a key US demand in negotiations. Trump kept insisting that the Iranians are talking to them and want peace, but Iranian leaders have denied entering into any negotiations with the US and have also come up with their own five-points demand.

Having ran to most of his allies in Europe and many, if not all, turning their backs on him – indicating an indirect signal to him to end the war he started, Trump finds himself alone and forlorn.

Tehran is demanding a complete halt to all forms of aggression and assassinations of their leaders now and in the future. It wants concrete undertakings to ensure the war doesn’t resume, and the payment of war reparations, an end to Israel’s assault on Hezbollah in Lebanon, as well as the right to exercise sovereignty over the Strait of Hormuz. This would give the Islamic Republic a stranglehold on 20 per cent of the world’s oil supplies and the global economy. Iran has shown in the past that it is willing to talk about its nuclear programme, and has made it severally clear that it is not interested in having a nuclear weapon. In fact, it made a deal with the former US President Barack Obama to freeze the programme, which Trump tore into shreds when he came on board as President for his second term.

For this war to end, payments of huge sums of money may be required as compensation that might enable the shattered Islamic Republic to rebuild its military capacity. With the USA desperately seeking an end to the war, it may be forced to pay. Iran knows that it can’t win a conventional battle with the USA, but it is seeking to impose as much pain on the US through the strangulation of the world economy and Trump have no option but to retreat.

Having ran to most of his allies in Europe and many, if not all, turning their backs on him – indicating an indirect signal to him to end the war he started, Trump finds himself alone and forlorn.

In the next few months, the impact of the war on food supply will become manifest. This is because a third of global urea trade, which is a solid nitrogen fertiliser needed on most farms, passes through the Middle East region, with about 20 per cent of imported fertiliser to the US coming specifically from Qatar. Nitrogen fertiliser is critical to grow corn, which is cultivated by about 500,000 farmers in the US, according to the National Corn Growers Association. The war’s impact on farmers has caught the attention of the White House, which has promised that the US economy wouldn’t be disrupted “very much at all” by supply issues.

The conflict has also disrupted the global helium supply after Iranian attacks in Qatar, the second-largest producer of helium after the United States. The country was forced to halt production at its Ras Laffan industrial complex, which supplies about 20 per cent of the world’s liquefied natural gas. Helium is a key import that is used in aerospace, magnetic resonance imaging (MRI) and in making semiconductor chips that are used to power AI. Needless to say, America and some of its companies are in deep shit. (Do kindly pardon my French!)

Increases in oil prices has also resulted in higher airfare and shipping costs. Already, the price of jet fuel has doubled since the start of the war, according to the International Air Transport Association, while United Airlines has announced it would have to cut flights due to the surging cost of fuel.

Back home in Nigeria, the steady increase in the price of fuel has had a devastating impact on the purchasing power of most Nigerians, as food inflation, which has been on the downward trend in the last few months, have picked up again. When the war started, a litre of fuel cost N780. Now, the price ranges between N1,300 and N1,400 depending on the location. Consequently, labour leaders are calling on the Federal Government to urgently work out relief plans for workers to cushion the effects of the harsh realities on public servants.

The Oyo State Governor, Seyi Makinde, has belled the cat by approving N10,000 additional transport allowance for workers in the state. Aliko Dangote has also already canvassed the need for workers to work from home in order to reduce the impact of the cost of transportation on workers. Nigeria is several kilometres away from the war zone but still bearing the brunt, no thanks to a war monger who acted first before applying his critical thinking cap on the global consequences of war.

Nevertheless, President Tinubu should come up with measures that would bring succour to the people from the hardship brought upon by the war, and from a long history of economic turbulence in the country. He was elected to solve our collective problems as Nigerians and it is expected that he and his economic team would come up with solutions, and fast too.

See you next week.

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Dangote spoke on Monday in Lagos after a courtesy visit and Eid-el-Fitr homage to President Bola Tinubu.

He said the visit was to extend Sallah greetings, reconnect with the president after some time, and reaffirm respect and continued support for the administration’s policies.

Dangote noted Nigeria had no direct role in the crisis but would still feel the impact because of deep global economic interdependence.

“We are part of a global village, and unfortunately, developments like this will affect us even if we are not directly involved,” he said.

He warned that prolonged tensions could trigger higher fuel prices, rising transport costs, inflationary pressures, and widespread hardship across African economies.

“If the situation does not de-escalate, we will end up paying a heavy price, especially given existing economic challenges,” Dangote said.

He explained that governments could face mounting fiscal strain as subsidies rise and revenues fluctuate under unstable global oil market conditions.

Dangote added that Africa’s rising debt burden could worsen under prolonged instability, further limiting fiscal space and weakening economic resilience.

“Africa is already grappling with debt, and additional shocks will only compound hardship for governments and the people,” he said.

He said escalating energy costs would disrupt nearly every sector, including small enterprises, manufacturing chains, logistics operations and household consumption patterns.

“Energy affects everything. From small businesses like barbing to industries running generators, everyone will feel the impact if costs continue to rise,” he said.

Dangote noted that some countries were already adopting coping strategies such as reduced workdays, energy rationing and remote working arrangements.

He said such measures, while necessary, could reduce productivity, slow economic output and affect livelihoods, particularly among vulnerable populations.

Dangote urged global leaders to prioritise de-escalation, stressing that many Africans rely on daily earnings and remain highly exposed to economic shocks.

“In Africa, in Nigeria many people depend on daily earnings. If they don’t work, they don’t eat. So we must pray this situation comes down quickly,” he said.

On Tinubu’s recent visit to the United Kingdom, Dangote said the trip had opened new economic opportunities and strengthened Nigeria’s investment outlook.

“I believe the visit has opened many doors. Diplomacy without economic outcomes is incomplete, and this has created opportunities for Nigeria,” he said.

He said agreements reached during the visit, especially in infrastructure and financing, signalled growing international confidence in Nigeria’s reform agenda.

“It is not just about the money committed, but the confidence it shows in Nigeria and the reforms being implemented,” he said.

Dangote said planned investments in critical sectors such as ports would significantly improve trade efficiency and support medium-term economic expansion.

“These investments will help improve our infrastructure, especially in key areas like ports, and complement ongoing government efforts,” Dangote said.

He expressed optimism that other countries, including Germany, would follow with investments as confidence in Nigeria’s economy strengthened.

“Once confidence is established, other countries will come in. It is a signal that Nigeria is ready for business,” he said.

Dangote said the agreements would enable Nigerian private sector players to access international financing and technical support for large-scale projects.

“For Nigerian investors, this shows we can approach these agencies to access funding. It means they are now open to supporting our projects,” Dangote said.

He described the development as a breakthrough, noting that such credit facilities had historically remained underutilised by Nigerian businesses.

“We have not really utilised these resources before, but now there is clear capacity and willingness to fund viable Nigerian projects,” he said.

Dangote reaffirmed his support for the administration, expressing confidence that reforms, partnerships and investor confidence would drive sustainable economic growth in Nigeria.

Source: NAN

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Renewed interest in equities such as FTN Cocoa Processors, Fidson, Deap Capital Management, Caverton Offshore Support Group and Livestock Feeds lifted the market into positive territory.

Market capitalisation rose from N125.750 trillion to N126.398 trillion, representing a 0.52 per cent increase, equivalent to N648 billion.

Similarly, the All-Share Index climbed by 1,010.22 points, or 0.52 per cent, from 195,898.54 to close at 196,908.76.

Consequently, the year-to-date return improved to 26.54 per cent.

Market breadth closed flat, recording 30 gainers and 30 decliners.

FTN Cocoa Processors led the gainers with 10 per cent, closing at N6.27.

Fidson followed with a 9.97 per cent rise to N105.35, while Deap Capital Management gained 9.89 per cent to close at N7 per share.

Caverton Offshore Support Group rose by 9.40 per cent to N6.40, while Livestock Feeds advanced by 9.30 per cent to N7.05 per share.

Conversely, Eterna and Omatek Ventures topped the losers’ chart, each shedding 10 per cent to close at N42.30 and N2.52 per share.

SCOA declined by 9.94 per cent to N22.65, while Fortis Global Insurance lost 9.24 per cent to close at N1.08.

Sovereign Trust Insurance dropped by 9.09 per cent to close at N2.10 per share.

Market activity weakened, with total volume traded falling by 18.01 per cent to 549.78 million shares.

The transactions were valued at N44.74 billion across 55,465 deals.

Fortis Global Insurance recorded the highest trading volume with 32.18 million shares.

Dangote Cement posted the highest value traded at N20.67 billion.

This represented 5.85 per cent and 46.21 per cent respectively of the day’s total volume and value.

Source: NAN

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The adjustment is said to be aimed at easing the financial burden on consumers and supporting broader economic stability across Nigeria.

Under the new pricing framework, the gantry price of PMS has been lowered from ₦1,175 to ₦1,075 per litre—a reduction of ₦100.

The coastal price has also been adjusted downward from ₦1,150 to ₦1,028 per litre, representing a ₦122 decrease.

Diesel prices have similarly been reduced from ₦1,620 to ₦1,430 per litre, amounting to a ₦190 cut.

The decision was said to have underscores the company’s commitment to maintaining a pricing structure that remains sensitive to global market trends and reflective of its principles of fairness and transparency.

The refinery noted that as a company operating under strict governance standards and strong ethical values, it was important for it to ensure its pricing aligned with the ongoing decline in global crude oil prices.

“All crude processed at the refinery is purchased at the global benchmark price, plus a premium of $3 to $6. Foreign exchange payments are made at the prevailing market rate, with no subsidies applied to either crude or forex. Additionally, crude supplied through the Naira‑for‑Crude arrangement is priced in line with the global benchmark plus premium and converted to naira using the current exchange rate,” the press statement by the refinery reads in part.

It added: “In 2025 alone, we reduced our gantry prices on no fewer than eight occasions, increasing them only twice—an effort rooted in economic patriotism and our responsibility to the Nigerian people. We remain committed to ensuring that any cost advantages are passed on to consumers across the 36 states and the Federal Capital Territory.”

Recently, the Managing Director of Dangote Petroleum Refinery, David Bird, assured Nigerians that the refinery would continue to meet the nation’s fuel demand despite turbulence in the global oil and gas market.

He noted that while fuel‑import‑dependent nations were experiencing panic buying and rationing, Nigeria would not face similar conditions because of the refinery’s unwavering commitment to ensuring nationwide fuel availability.

Bird highlighted that the refinery continued to supply uninterrupted fuel to the domestic market even as geopolitical tensions in the Middle East have triggered sharp increases in crude prices, freight charges, and insurance costs.

He described the recent spike in crude markets as unprecedented, pointing out that oil surged from the mid‑$60 range to nearly $120 per barrel in just one week—disrupting every segment of the global energy supply chain.

While acknowledging that the refinery is not insulated from global price fluctuations, freight volatility, or rising insurance premiums, Bird emphasized that Nigeria now enjoys a significant advantage: a secure fuel supply driven by domestic refining capacity.

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The post Dangote slashes petrol price by N100 appeared first on Frontpageng.

The annual international fair, which started on the 21st of February 2026 and will conclude on the 1st of March 2026, remains one of the most widely attended agricultural show with thousands of people from across the world in attendance.

In 2025, the show welcomed 607,503 visitors, nearly 4,000 animals, and over 1,000 exhibitors.

The Pan-African Food and Agro-Giant, FMN, has maintained a proven record of commitment to fostering food self-sufficiency in Nigeria and in nurturing valuable relationships that will transform Nigeria’s International trade outlook.

As a member of the France – Nigeria Business Council, FNBC, FMN is now a second-time sponsor and partner for the Salon International de l’Agriculture, following the success of the first outing in 2024.

This year, through the PIAS, the theme “Generations Solution” is being explored to foster knowledge transfer from younger generations and structure processes through which knowledge can be harnessed to drive technological advancement within the global Agricultural sector.

Speaking on the invaluable nature of the relationship between Nigeria and France, and the FMN’s commitment to process and product innovation, Mr. John G. Coumantaros stated: “The France – Nigeria relationship is a valuable partnership built on a shared value agenda that fosters remarkable Intercontinental trade growth. Also, as an organisation with over six decades of transformational footprint in Nigeria and progressively across the African Continent, FMN has been unwaveringly committed to product and process innovation. Therefore, our continuous partnership with France for the success of the Paris International Agricultural Show further buttresses the thriving relationship between both countries.”

In his address on the inaugural day of the Nigerian Pavilion, which took place on Monday, the 23rd of February 2026, Mr. Sadiq Usman, the Managing Director, FMN Agro & Director, Strategic Engagement/Stakeholder Relations, said, “At FMN, our mission is Feeding and Enriching Lives Every Day. This is a mandate we have fulfilled through decades of economic shifts, rooted in a culture of deep resilience and constant innovation. We support this pavilion because FMN recognizes that the next frontier of global Agribusiness lies in high-level technical exchange. We thank the France-Nigeria Business Council (FNBC), the organizers of the PIAS, and our fellow members of the Nigerian Pavilion – Dangote, BUA, Zenith, Access, and our partners at Creativo El Matador and Soilless Farm Lab— we are exceedingly pleased to work to showcase the true face of Nigerian commerce.”

For over six decades, FMN has been a source of livelihood for millions of Nigerian families, and through its Pan-African vision, the company has continued to foster market diversification and expansion for Nigerian-made products.

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This is just as the Ogun State Chamber of Commerce, Industry, Mines and Agriculture, OGUNCCIMA, commended the group’s long-term industrial investments and Vision 2030 agenda.

The company’s investment plan was made known by the Group Executive Director, Commercial Operations, Hajiya Fatima Aliko-Dangote during the Dangote Special Day at the ongoing 15th Gateway International Trade Fair in Abeokuta, where business leaders and policymakers converged to advance discussions on export competitiveness, industrial expansion, and public–private collaboration.

The director, who was represented at the occasion by Mr. Tunde Mabogunje, Dangote Cement Plc’s Regional Sales Director, Lagos/Ogun, stated that its long-term investments across cement, energy, petrochemicals, fertiliser and foods production were deliberately structured to reposition Nigeria from an import-dependent economy to a net exporter of strategic products.

She explained that the Group’s Vision 2030 was designed to expand industrial capacity, stimulate cross-border investments, deepen regional value chains, and strengthen Nigeria’s competitiveness within Africa and beyond.

Hajiya Fatima Aliko-Dangote said, “Our participation at the Gateway Trade Fair this year dovetails with Dangote Vision 2030, our enterprise wide plan to accelerate industrial expansion, spur cross border investments, and reduce import dependence in strategic sectors. This is why as a lead sponsor, Dangote Industries Limited (DIL) is proud to stand with OGUNCCIMA to deepen commerce, strengthen value chains, and open markets for manufacturers, MSEs and consumers across the region.”

According to her, Ogun State remains central to the Group’s industrial footprint noting that Dangote Cement’s 12 million metric tonnes per annum plant in Ibese continues to anchor domestic supply and exports, while construction is ongoing on a six million metric tonnes per annum integrated cement plant in Itori which is expected to further strenghten local supply chain linkages and boost West African export capacity.

She also referred to the Group’s $2.5 billion fertiliser partnership in Ethiopia, designed to produce up to three million metric tonnes per annum of urea.

The initiative, she said, reflected a broader continental strategy aimed at enhancing food security and positioning Africa as a stronger agricultural exporter.

Also speaking, the Permanent Secretary, Ogun State Ministry of Industry, Trade and Investments, Engr. Kehinde Akintomide, urged local industries, SMEs, and emerging entrepreneurs to draw lessons from the Dangote growth trajectory encouraging them to think boldly, invest patiently, and pursue excellence with discipline, noting that long-term competitiveness requires resilience, strategic planning, and consistent execution.

He commended OGUNCCIMA for sustaining the trade fair platform that connects businesses to markets and stimulates economic activity, urging the Chamber to continue expanding initiatives that attract greater participation across pavilions and sectors.

In his remark earlier, President of OGUNCCIMA, Lion Niyi Oshiyemi, described Dangote Day as not just an event but a celebration of enterprise, resilience, and transformational impact on Nigeria’s economy.

He noted that the Dangote Group had remained “a shining example of visionary leadership and industrial commitment,” stressing that its investments had strengthened Nigeria’s manufacturing base, generated employment, and enhanced the country’s standing on the global economic map.

The OGUNCCIMA head said, “Today, we celebrate not only a brand, but a legacy of enterprise, resilience, and transformational impact on Nigeria’s economy and beyond. With its big, bold and strategic mission of Vision 2030, the Dangote Group has remained a shining example of what visionary leadership, innovation, and commitment to national development can achieve.”

Oshiyemi added that the Gateway Trade Fair, now in its 15th edition, continued to serve as a critical platform for commerce, collaboration, and investment promotion.

“In a rapidly evolving global economy characterised by intense competition and technological advancement, strong partnerships are no longer optional but essential. Dangote’s presence reinforces the importance of sustained public, private collaboration in driving economic diversification and value-chain development,” he stressed.

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The visit included high‑level talks with President Evariste Ndayishimiye at the presidential palace.

Accompanied by former Nigerian president, Chief Olusegun Obasanjo, Dangote described the mission as both diplomatic and economic in scope.

He revealed that two dedicated technical teams—one representing Burundi and the other, the Dangote Group—had been constituted to identify priority sectors and develop viable investment projects.

“Our focus really is investing heavily in the African continent, not anywhere else, and so Burundi is part and parcel of that African region,” Dangote stated after the meeting.

He pointed to strong potential in solid minerals, power generation, agriculture, cement production, and infrastructure development, emphasising that the goal was to build a mutually beneficial partnership that would drive shared prosperity.

According to official sources, discussions centered on strategic cooperation in infrastructure, logistics, industrialization, and energy—areas the Burundian government considers essential to its long-term economic transformation.

The engagement aligns with Burundi’s broader ambition to attract large-scale private sector investment and strengthen ties with leading African industrial players.

Observers widely view the engagement as a landmark moment—one that positions Burundi as a credible destination for African mega‑investors and integrates the country more firmly into Dangote’s continental expansion strategy.

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DIL, which is partnering with the Ogun State Chamber of Commerce and Industry, Mines and Agriculture, OGUNCCIMA, as a lead sponsor of the fair said it was ready for meaningful business partnership with governments at all levels, their agencies and other bodies to achieve its vision of becoming $100 billion revenue business by 2030.

In a statement issued on the company’s preparation for the Ogun Fair, Group Chief Branding and Communication Officer, Dangote Group, Mr. Anthny Chiejina said the company’s participation at this year’s Gateway International Fair aligned with its Vision 2030 strategies of becoming one of the top 100 businesses in the world through sustained industrial expansion, cross-border investments, and reduced dependence on imports in strategic sectors such as energy, manufacturing, and infrastructure.

Alluding to the position of the president of the group, Aliko Dangote, that the company’s ambition goes beyond building factories but about building Africa’s capacity to feed itself, power its economy and drive sustainable industrialization, Mr. Chiejina said the Trade Fair offers opportunities to manufacturers and government to partner and explore ways of encouraging production as opposed to importation.

He explained that under the vision, the company would be expanding its largest single train petroleum refinery from 650,000 barrels per day to 1.4 million barrels per day, and the fertiliser plant from 3 to 12 million metric tonnes per annum.

“In the same vein, our cement business is also on track to reach 90 million tonnes by 2030.”

Chiejina explained that all the subsidiaries of the company would be at the trade fair and urged members of the public to take advantage of the fair to strike partnership with the group for business opportunities.

He said visitors to the group’s pavilion at fair would have the opportunity of buying its products at reasonably reduced prices.

He listed products that would be on display to include, Cement, Sugar, Salt, Fertiliser, Rice, etc.

According to him, the group has kick-started the development of six Large Scale Rice Milling Plants in six states namely Kano, Jigawa, Zamfara, Niger, Kebbi, and Sokoto, with a combined total milling capacity of 1.5 million per annum and that the Group’s investments in the agricultural sector, is to complement the existing investments being made in other sectors all in the spirit of vision 2030.

He then commended federal government’s economic reform saying its gradually paying off to bring Nigeria back on track, adding that the policy initiatives were necessary, if the nation was to attain sustainable economic development and poverty alleviation.

The Dangote Group’s image maker also praised the leadership of OGUNCCIMA for the choice of the very apt theme for this year’s edition of the Fair: “Promoting Business through Partnership”.

“Clearly, given the current focus of both the Federal Government and Ogun State and indeed most other states in the country on the Agricultural Sector as the only incontestable route for the revival and sustained growth of the Nigerian economy, there can be no more pertinent subject matter to which we should direct the attention of all the participants at this Fair.”

Earlier, President of OGUNCIMA, Lion Niyi Oshiyemi, while announcing activities marking the 2026 fair commended Dangote Group for the laudable roles it has been playing with its partnership with OGUNCCIMA in an effort to rejuvenate the nation’s economy through production and the economic stability of Ogun state through its investments in the state.

The OGUNCCIMA boss described Dangote Group as a long-standing partner and Africa’s most formidable business conglomerate saying the interest of the Company in the Gateway Trade Fair is an indication that the Fair is a hub for commerce, innovation and economic exchange.

He pointed out that the contributions of the Group to the state and the nation’s economy were remarkable and that the company had been the backbone of the trade fair over the years, pointing out that Dangote had proven beyond reasonable doubt that it was a socially responsible business organisation in words and action.

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It said as a state‑of‑the‑art, large‑scale merchant refinery, it refined crude oil and processed intermediate feedstocks into premium petroleum products and petrochemicals that met the highest international standards.

Speaking during a media briefing at the refinery, the Chief Executive Officer and Managing Director, David Bird, explained that processing intermediate or semi‑processed materials was a standard practice within the global refining industry.

He clarified that that practice did not amount to importing finished petroleum products.

Bird highlighted that the Dangote Petroleum Refinery operated using a European and Asian merchant refinery model, which integrated advanced refining, blending and trading systems designed to meet modern quality and environmental benchmarks.

“DPRP produces high‑quality fuels aligned with international environmental and health standards. Our gasoline is lead‑free and MMT‑free with 50 parts per million sulphur, while our diesel meets ultra‑low sulphur specifications. These standards help reduce emissions, protect engines, and safeguard public health,” Bird stated.

He reaffirmed that the Dangote Refinery supplied only fully refined, market‑ready products, adding that semi‑finished fuels were unsuitable for vehicles and were therefore not released into the Nigerian market.

Samples of both intermediate feedstocks and fully refined products were displayed to journalists during the briefing.

Bird further noted that the refinery was established to end years of exposure to substandard fuel in Nigeria by providing products that meet stringent global standards.

He added that DPRP’s products were now exported to international markets, highlighting their quality and competitiveness.

Intermediate materials—such as naphtha, straight‑run gas oil, vacuum gas oil (VGO), reformate, alkylate and isomerate—serve as feedstock for additional refining into finished fuels like petrol and diesel, as well as petrochemicals.

Bird stressed the refinery’s commitment to transparency in its operations and engagements with regulators.

He urged the media to help properly educate the public on the clear distinction between intermediate products and finished fuel.

“It is unfortunate that some individuals are deliberately spreading misleading narratives about a refinery that has transformed Nigeria and the West African region from a dumping ground for substandard fuels into a hub for high‑quality products,” he said.

He added that the refinery’s flexible design allows it to process a diverse mix of crude oils and intermediate feedstocks into premium finished fuels.

Bird assured Nigerians of sustained product availability, noting that the refinery had contributed significantly to easing fuel scarcity, stabilising the naira, and reducing pressure on foreign exchange.

Group Chief Brand and Communications Officer of Dangote Industries Limited, Anthony Chiejina, urged journalists to be precise in their choice of terminology, warning that inaccurate reporting could misinform the public and create unnecessary panic.

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