Waves of Innovation: How First Bank turned Lagos into Africa’s Electric Playground

By Kazeem Ugbodaga

The Lagos Lagoon glistened in shades of blue and gold as electric powerboats sliced through the water, cheered on by an ecstatic crowd that lined Victoria Island’s waterfront from Saturday, 3 October to Sunday, 5 October. For two unforgettable days, Lagos became Africa’s capital of clean energy, glamour, and innovation, all powered by First Bank of Nigeria, the sponsor of the continent’s first-ever E1 Lagos Grand Prix.

From the rhythmic sounds of Afrobeats echoing across the Marina to the sight of sleek, futuristic boats gliding silently on water, the E1 Lagos GP was more than a race, it was a celebration of Lagos’ vibrant spirit and Nigeria’s march towards sustainability.

President Bola Ahmed Tinubu, in a goodwill message, hailed the event as a bold statement of intent by Nigeria and Lagos, praising Governor Babajide Sanwo-Olu, First Bank, and other partners for delivering a world-class spectacle.

“The E1 Powerboat series combines world-class entertainment with clean energy innovation. This championship is not just a thrilling spectacle on water but a commitment to a greener and more sustainable future,” the president had said at the opening ceremony of the great event on Friday, 3 October.

He described Lagos as “a gateway to innovation, technology, and global sporting excellence,” affirming the nation’s readiness to lead Africa’s transition to clean energy.

Governor Babajide Sanwo-Olu, who led the regatta that opened the event, described the championship as a proud moment for Lagos and a reflection of its global potential.

“E1 Lagos GP is more than a race; it is a celebration of Lagos’ dynamism, the Spirit of Lagos,” the governor said, adding that “It shows our capacity to host world-class events and underscores our commitment to sustainability.”

Crowds thronged the Lagos Lagoon and fan zones, having fun, snapping selfies, and soaking in the festive atmosphere. International sports icons, investors, and fans came from across the world, including former Chelsea and Ivory Coast football legend Didier Drogba, co-owner of Team Drogba Global Africa, who added a touch of celebrity magic to the weekend.

For First Bank of Nigeria, the event was not just about sports, it was about making history. Acting Group Head of Marketing and Corporate Communications, Olayinka Ijabiyi, said sponsoring the E1 Lagos GP reflected the bank’s heritage of innovation and renewal.

“Innovation, sustainability, excitement, speed, we are a heritage bank that has been around for 131 years, and for every one of those years, we have constantly renewed ourselves,” Ijabiyi said, saying that “When this opportunity came, who else could bring the first E1 GP to Nigeria but First Bank? We are proud to have presented Lagos and Nigeria to the world.”

At the First Bank Pavilion, visitors enjoyed interactive experiences, lifestyle engagements, and product showcases, while music, fashion, and food added a distinctly Lagos flavour. Families and young professionals mingled with entrepreneurs, all celebrating a fusion of technology, culture, and sustainability, hallmarks of the bank’s brand identity.

“This race is a net-zero emitter,” Ijabiyi added. “We are strong on sustaining the environment and supporting a cleaner, greener future. It’s innovation meeting responsibility.”

The E1 partnership also connects with the bank’s #FirstBankDecemberIssaVybe series, an annual celebration of entertainment and lifestyle that lights up Nigeria’s festive season. “December is the Vybe,” Ijabiyi teased. “This is just a taste of what’s to come-fun, fashion, food, and amazing experiences.”

The finale on Sunday was nothing short of electrifying as Team Brazil claimed victory, with pilots Timmy Hansen and Leva Millere-Hagin steering their electric boat to glory, beating Team Blue Rising and Team Drogba to the podium.

As the sun set over the Lagoon, the waterfront transformed into a sea of lights and cheers, a moment that captured the heart of Lagos: energetic, ambitious, and always ready to lead.

With its sponsorship of the E1 Lagos Grand Prix, First Bank once again proved that it is more than a financial institution, it is a lifestyle brand championing innovation, sustainability, and national pride.

In the words of Latoya Johnson, a Lagosian who attended the event: “I grew up knowing First Bank as the reliable one. Seeing them behind something this big makes me proud. They’re not just banking our money, they’re banking our future.”

From clean energy to cultural celebration, from racing boats to smiling faces, the E1 Lagos GP was a powerful reminder that when innovation meets tradition, the result is pure magic.

UK-Based Independent Investigators Clear Dangote Refinery of Importing Substandard Fuel

A United Kingdom–based energy watchdog, Impact Investigators Platform (IIP), has dismissed allegations that the Dangote Petroleum Refinery imported substandard petrol into Nigeria, describing the claims as “technically inaccurate, commercially implausible, and unsupported by verifiable evidence”.

In an investigative report signed on Friday by its lead investigator, Raymond Neil, the IIP said its independent assessment of shipping data, customs declarations, and refinery process documentation found no indication that the refinery imported or sold finished Premium Motor Spirit (PMS) with sulphur levels above Nigeria’s approved limit of 50 parts per million (ppm).

Neil said the IIP launched its own investigation after media reports claimed that a vessel had delivered high-sulphur petrol to the Dangote Refinery under the guise of locally refined products.

The investigator, however, noted that the cargo in question was an intermediate feedstock; a raw material commonly traded among refineries worldwide for further processing, not a finished fuel for retail.

“Our analysis confirms that the shipment being referenced was a blending component, not a finished petrol product,” Neil said.

“It was imported within the context of refinery optimisation and was never intended for direct distribution or public sale. The claim that Dangote Refinery imported dirty fuel into Nigeria is therefore misleading and inconsistent with both technical and commercial realities.”

He emphasized that global refinery complexes, including those in Europe and Asia, regularly import intermediate streams such as high-sulphur catalytic gasoline (HSCG) or straight-run naphtha to balance their production yields.

“This is normal industry practice and it does not in any way imply that substandard or harmful fuel is being sold to consumers,” the expert said.

According to the IIP report, the Dangote Refinery’s import documentation and regulatory clearances were consistent with the rules of the Nigeria Customs Service (NCS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which oversee feedstock imports and quality assurance.

The refinery, it said, also operates under a free trade zone licence, meaning that all materials brought in are subject to internal refining before entering the domestic fuel market.

Neil noted that his organisation’s review included a verification of laboratory test results, refinery capacity utilisation records, and inspection certificates filed with port authorities in both the United Kingdom and Nigeria.

He said none of the reviewed documents supported the claim that the refinery imported petrol ready for local consumption.

“The sulphur levels cited in the reports were associated with intermediate-grade gasoline used as a processing input, not finished fuel. To suggest otherwise is to misunderstand how refineries work. The Dangote complex is designed to upgrade such feedstocks into ultra-low-sulphur petrol through hydrodesulphurisation and other advanced refining processes,” Neil clarified.

He stressed that misreporting such technical details could erode public confidence in the refinery at a time when Nigeria is seeking to strengthen domestic refining capacity and reduce dependence on imported fuel.

“The Dangote project remains a strategic national asset. Public debate around it must be grounded in fact, not conjecture,” Neil said.

The IIP also urged Nigerian authorities to establish a rapid-response mechanism for verifying refinery operations and product quality claims to prevent misinformation from spreading unchecked.

“Transparency is key. But transparency also requires responsible reporting and technical understanding of what the data means,” Neil said.

The IIP report further commended the refinery for what it described as its “proactive compliance culture,” noting that its internal audit systems mirror the standards applied by the European Refining Association and the American Petroleum Institute.

“Our review shows that every product stream leaving the Dangote Refinery is accompanied by a certificate of quality issued by an ISO-certified laboratory,” Neil said.

“We also found evidence that these certificates are regularly submitted to NMDPRA before any local dispatch. This is the kind of governance structure that should be encouraged, not vilified.”

He concluded by reaffirming the group’s readiness to share its findings with relevant Nigerian institutions and civil society organisations to foster evidence-based discourse around the refinery’s operations.

“The energy transition requires accuracy, not alarmism. Our findings clear the Dangote Refinery of the claims of importing dirty fuel. What we found instead is a refinery engaged in legitimate global trade practice, subject to regulation, and committed to delivering cleaner fuels that meet international standards,” Neil said.

Dangote Refinery denies reports of importing bad fuel; Clarifies Feedstock Imports

…Reaffirms High-Quality Petrol Production