Business
Dangote Refinery: A Plea For Caution *by Oba Adekunle Oyelude CON
Dangote Refinery: A Plea For Caution
*by Oba Adekunle Oyelude CON
I am very proud, as I always do home and abroad, to call myself a citizen of Nigeria, the blessed land of my forebears. From the bottom of my heart, I pledge to continue to be proud of Nigeria, come rain, come shine because there is no other place on this planet earth to be called my natural home other than here.
I am also happy to say that my antecedent before and after I ascended to the throne of my ancestors as the 13th Olowu of Kuta in September 2012, has not contrasted my love for and belief in Nigeria, both of which were recognised by the Federal Government of Nigeria in May 2023 when the then President Muhammadu Buhari confered on me the Commander of the Order of the Niger (CON).
In view of this national honour and my status as a royal father, I find it much more obligatory to share my view on the ongoing travail of the Dangote Refinery, a major private investment which sits on 2,635 hectares with a view to producing and exporting petrol and ultimately saving Nigeria foreign exchange.
This unprecedented stride, to my senses, would reverse Nigeria’s reliance on other countries for petroleum supply. I read it that we import about 90 percent of petroleum products we consume locally. I also read that Nigeria imported 11.3 billion dollars refined petroleum products in 2021 alone, making us the 18th largest importer of the products globally.
One can then imagine how excited I was when the news came out that the Dangote Refinery, construction of which started a decade ago and completed with $19 billion, would commence production at the end of the third quarter of 2022 and would reach full capacity in the first quarter of 2023.
I was more excited realising that hundreds of jobless Nigerian, especially our agitating youths would be employed by the 65000 barrel-per-day plant.
I was engrossed in that state of ecstasy and indeed expectant of the implementation of that promise, when suddenly I began to see an alarming sign of a danger to that prospect.
It first sounded like a joke and also appeared like a bad, protracted dream to me until I read that the date of the take-off had been shifted forward due to some logistics, particularly some grey areas needed to be cleared with the sector regulatory authorities.
I was practically down when I read a report alleging that the head of the Nigerian Mainstream and Downstream Petroleum Regulatory Authority (NMDPRA) , Mr Farouk Ahmed made a complaint over the quality of products from the refinery.
The CEO was reported to have complained that the diesel produced by the refinery contains a very large amount of sulphur content which, according to him, is harmful to vehicle engine, hence the continuous reliance on imported products with its predictable consequence on the young refinery.
At this juncture, I am stuck between the devil and the deep blue sea. However, as a royal father, who must not be fair only but must also be seen to be fair, I have the responsibility to call on the government to aid the nationalist objective for which the refinery was built.
Nigeria, our great nation, emerging as the highest private petroleum exporter in Africa, is not a status and prestige we should throw out of the window. I, therefore, crave the understanding of President Bola Ahmed Tinubu on this, for the feat will certainly add to the profile of his administration as that through which Nigeria attained that enviable height among the comity of nations.
This administration can not afford to be seen as putting before prospective investors, unfriendly policies to discourage them from looking to the direction of the country for enterprises that could create jobs for the yawning youths.
President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, in his part, should be more open to further dialogue with the government through the NMDPRA in order to save his dream project this seemingly impasse.
There is no doubting the fact that a number of Nigerians at home and in the diaspora, have attached Aliko Dangote’s name to monopoly of our nation’s economy, allegedly using his proximity with successive admnistrations to sustain his dominance of the economy evidently with his multi-sectoral investments, for instance, in cement, sugar and salt.
I think with his current experience over this multibillion-dollar refinery, it is high time he reviewed that identity by complying with the demands of the government if only for the sake of national interest.
To my understanding of elementary finance, it makes no economic sense for an investor of that magnitude to be operating below his investment capacity level as the refinery is unfortunately experiencing to the disappointment and indeed pains of those of us who had seen a bigger picture of the project that, we had hoped and still are of the belief, would end the perennial fuel crisis the nation has endured for about 50 years.
Owing to the current fuel challenges being faced in major cities of the country, we are impatiently looking forward to the August date which the refinery is expected to supply Nigerian market. We don’t want anything that would push the date forward again.
Finally, federal government should look into the recent findings, through testing, made by members of the House of Representatives led by the Speaker, Honourable Tajudeen Abbas, disclaiming the allegation that Dangote diesel contains high sulphur levels.
To be double sure, the government can take a step further by conducting an independent investigation to ascertain the right quality of Dangote products and compare with those imported by marketers.
We should be mindful of the fact that the success or otherwise of this refinery will spill over to Dangote’s interest in revamping our moribund steel industry. We shouldn’t throw away the baby with bath water.
Mr president as father of the Nation and an undisputed patriot that we all know please safe this Refinery now as many onlookers are already insinuating the current imbroiglo to wrong political calculation on the part of Aliko, clarification of the Refinery as Major critical National Asset that must be jealously protected despite the fact that it’s privately owned is my humble opinion.
God bless the Federal Government of Nigeria. God bless our patriotic President Bola Ahmed Tinubu GCFR.
_*-Oba Adekunle Makama Oyelude (CON) is the Olowu of Kuta, Osun State, Nigeria*_
Business
Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing
Deadline of Compliance: Nigeria’s Urgent Call for Tax Return Filing
By George Omagbemi Sylvester | Published by SaharaWeeklyNG.com
“Shift or Structural Demand? A Declaration of Civic Duty in a Nation at a Fiscal Crossroads.”
In the unfolding narrative of national development and economic reform, few instruments are as defining as tax compliance. For Nigeria, a nation perpetually grappling with revenue shortfalls, structural dependency on a single export commodity, and entrenched informal economic behaviour, the Federal Government’s recent clarification on tax return deadlines is not mere bureaucratic noise. It is a deliberate and inescapable declaration: the social contract between citizen and state must be honoured through transparent, lawful and timely tax reporting.
At its core, the government’s pronouncement is stark in its simplicity and radical in its implications. Federal authorities, speaking through the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, have made it unequivocally clear that every Nigerian, whether employer or individual taxpayer, must file annual tax returns under the law. This encompasses self-assessment filings by individuals that too many assumed ended once employers deducted pay-as-you-earn taxes from their salaries.
This is not an optional civic suggestion, it is mandatory, backed by statute, and tied to a broader vision of national fiscal responsibility. Citizens can no longer hide behind ignorance, apathy, or false assumptions. “Many people assume that if their employer deducts tax from their salaries, their obligations end there. That is wrong,” Oyedele warned, emphasizing that the obligation to file remains with the individual under both existing and newly reformed tax laws.
The Deadlines and the Reality They Reveal.
Across the federation, state and federal revenue authorities have reaffirmed statutory deadlines in pursuit of compliance. The Lagos State Internal Revenue Service, for instance, moved to extend its filing date for employer returns by a narrow window, reflecting the reality that compliance often lags behind legal timelines. The extension was intended not as leniency, but as a pragmatic effort to allow accurate and complete submissions, underscoring that true compliance rises above mere mechanical ticking of a box.
At the federal level, Oyedele’s intervention was even more fundamental. He reminded Nigerians that annual tax returns for the preceding year must be filed in good faith, with integrity and in respect of the law. This applies regardless of income level including low-income earners who have historically believed that they are outside the tax net. “All of us must file our returns, including those earning low income,” he stated.
Herein lies one of the most challenging truths of contemporary Nigerian governance: widespread tax non-compliance is not just a technical breach of law, it is a deep cultural and structural issue that reflects decades of mistrust between citizens and the state.
The Root of the Problem: Non-Compliance as a Symptom.
Nigeria’s tax culture has long been under scrutiny. Public discourse and economic analysis consistently show that a significant majority of eligible taxpayers do not file annual returns. Oyedele highlighted that even in states widely regarded as tax administration leaders, compliance remains strikingly low, often below five percent.
This widespread non-compliance stems from multiple sources:
A long history of weak tax administration systems, where enforcement was inconsistent and penalties were rarely applied.
A perception that public services do not reflect the taxes collected, eroding the citizenry’s belief in reciprocity.
An informal economy where income often goes unrecorded, making filing seem irrelevant or impossible to many.
Lack of awareness, with many Nigerians genuinely believing that tax liability ends with employer deductions.
The government’s renewed push for compliance directly challenges these perceptions. It signals a shift from voluntary or lax compliance to structured accountability, a stance that aligns with best practices in modern public finance.
Why This Matters: Beyond Deadlines.
At its most profound level, the insistence on tax return filings is about nation-building and shared responsibility.
Scholars of public finance universally agree that a robust tax system is the backbone of sustainable development. As the eminent economist Dr. Joseph E. Stiglitz has observed, “A society that cannot mobilize its own resources through fair taxation undermines both its government’s legitimacy and its capacity to provide for its people.” Filing tax returns is not a mere administrative task, it is a declaration of participation in the collective project of national advancement.
In Nigeria’s context, this declaration carries weight. With the enactment of comprehensive tax reforms in recent years (including unified frameworks for tax administration and enforcement) authorities now possess broader statutory tools to ensure compliance and accountability. These measures, which include electronic filing platforms and stronger enforcement powers, have been framed as fair and equitable, targeting efficiency rather than arbitrariness.
Yet the success of these reforms depends heavily on citizens embracing their civic duties with sincerity. And this depends on mutual trust, the belief that paying taxes yields tangible benefits in infrastructure, education, healthcare, security and social services.
Voices From Experts: Fiscal Responsibility as a Public Ethic.
Tax law experts and economists, reflecting on the compliance push, have underscored a universal theme: taxation without transparency is inequity, but taxation with accountability is empowerment. When managed with fairness, a functional tax system can reduce dependency on volatile revenue sources, stabilise national budgets, and support long-term investment in human capital.
Professor Aisha Bello, a respected authority in fiscal policy, notes that “Tax compliance is not a burden; it is the foundation upon which social contracts are built. A citizen who honours tax obligations affirms the legitimacy of governance and demands better performance in return.”
Similarly, a leading tax scholar, Dr. Emeka Okon, argues that “The era when Nigerians could evade broader tax responsibilities simply because automatic deductions occur at source must end. For a modern economy, every eligible citizen must be part of the formal tax fold not as victims, but as stakeholders.”
These authoritative voices point to an unassailable truth: filing tax returns is both a legal requirement and a moral responsibility, an expression of citizenship in its fullest sense.
Challenges on the Ground: Compliance and Capacity.
While the rhetoric of compliance is compelling, the reality on the ground demands nuanced understanding. Many taxpayers (especially in the informal sector) lack meaningful access to digital platforms and resources for filing returns. For others, the fear of bureaucratic complexity and perceived punitive enforcement deters participation.
The government, for its part, has responded by promoting online systems and pledging greater taxpayer support. Tax authorities are increasingly engaging stakeholders to demystify filing processes, explain requirements and offer assistance. This mix of enforcement and facilitation is essential. As one seasoned revenue specialist observed: “The state cannot compel compliance through force alone; it must earn it through education, simplicity and fairness.”
The Broader Implication: A New Social Compact.
Ultimately, Nigeria’s renewed emphasis on tax return filing transcends administrative deadlines. It is an unequivocal declaration that national development is a shared responsibility, that citizens and state must engage in a transparent, accountable, and reciprocal relationship.
Tax compliance, therefore, becomes far more than a legal act; it becomes a moral claim on the nation’s future.
When citizens file their returns honestly, they affirm their stake in the nation’s destiny. When the government collects taxes transparently and deploys them effectively, it strengthens not only public services but civic trust itself.
In this sense, the deadlines proclaimed by Nigeria’s fiscal authorities mark not an end but a beginning; the beginning of a civic epoch in which accountability replaces apathy, participation replaces indifference and national purpose triumphs over fragmentation.
The road ahead will not be easy. But in demanding compliance, Nigeria is demanding more than tax returns. It is demanding commitment and that, ultimately, is the foundation on which nations are built.
Business
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025
By femi Oyewale
Business
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
In celebration of the season of love, Adron Homes and Properties has announced the launch of its special Valentine campaign, “Love for Love” Promo, a customer-centric initiative designed to reward Nigerians who choose to express love through smart, lasting real estate investments.
The Love for Love Promo offers clients attractive discounts, flexible payment options, and an array of exclusive gift items, reinforcing Adron Homes’ commitment to making property ownership both rewarding and accessible. The campaign runs throughout the Valentine season and applies to the company’s wide portfolio of estates and housing projects strategically located across Nigeria.
Speaking on the promo, the company’s Managing Director, Mrs Adenike Ajobo, stated that the initiative is aimed at encouraging individuals and families to move beyond conventional Valentine gifts by investing in assets that secure their future. According to the company, love is best demonstrated through stability, legacy, and long-term value—principles that real estate ownership represents.
Under the promo structure, clients who make a payment of ₦100,000 receive cake, chocolates, and a bottle of wine, while those who pay ₦200,000 are rewarded with a Love Hamper. Payments of ₦500,000 attract a Love Hamper plus cake, and clients who pay ₦1,000,000 enjoy a choice of a Samsung phone or a Love Hamper with cake.
The rewards become increasingly premium as commitment grows. Clients who pay ₦5,000,000 receive either an iPad or an all-expenses-paid romantic getaway for a couple at one of Nigeria’s finest hotels, which includes two nights’ accommodation, special treats, and a Love Hamper. A payment of ₦10,000,000 comes with a choice of a Samsung Z Fold 7, three nights at a top-tier resort in Nigeria, or a full solar power installation.
For high-value investors, the Love for Love Promo delivers exceptional lifestyle experiences. Clients who pay ₦30,000,000 on land are rewarded with a three-night couple’s trip to Doha, Qatar, or South Africa, while purchasers of any Adron Homes house valued at ₦50,000,000 receive a double-door refrigerator.
The promo covers Adron Homes’ estates located in Lagos, Shimawa, Sagamu, Atan–Ota, Papalanto, Abeokuta, Ibadan, Osun, Ekiti, Abuja, Nasarawa, and Niger States, offering clients the opportunity to invest in fast-growing, strategically positioned communities nationwide.
Adron Homes reiterated that beyond the incentives, the campaign underscores the company’s strong reputation for secure land titles, affordable pricing, strategic locations, and a proven legacy in real estate development.
As Valentine’s Day approaches, Adron Homes encourages Nigerians at home and in the diaspora to take advantage of the Love for Love Promo to enjoy exceptional value, exclusive rewards, and the opportunity to build a future rooted in love, security, and prosperity.
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
Business6 months agoBatsumi Travel CEO Lisa Sebogodi Wins Prestigious Africa Travel 100 Women Award
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING




