Business
THE INAUGURATION OF THE DANGOTE REFINERY AS THE BEST DEVELOPMENT FOR REAL ESTATE INVESTORS BY DENNIS ISONG
THE INAUGURATION OF THE DANGOTE REFINERY AS THE BEST DEVELOPMENT FOR REAL ESTATE INVESTORS BY DENNIS ISONG
Sahara Weekly Reports That The highly anticipated Dangote Refinery, a monumental project, was inaugurated with great fanfare on May 22nd, 2023, by President Buhari in Lagos, Nigeria’s bustling economic hub. This marked a significant milestone in the nation’s pursuit of energy self-sufficiency and economic development.
The Dangote Refinery stands tall as a testament to engineering marvels and cutting-edge technology. Boasting an impressive capacity of 650,000 barrels per day, it proudly holds the distinction of being the largest single-train refinery globally. Its state-of-the-art infrastructure and advanced processing capabilities position Nigeria as a prominent player in the global petroleum industry.
With its colossal capacity, the Dangote Refinery is poised to address Nigeria’s long-standing challenge of meeting its domestic demand for refined petroleum products. As the refinery ramps up operations, it aims to achieve an ambitious target: satisfying 100% of Nigeria’s ever-growing appetite for these essential commodities. This achievement would significantly reduce the country’s dependence on imports and enhance energy security for its citizens.
While primarily designed to cater to domestic needs, the Dangote Refinery also has strategic plans to contribute to Nigeria’s foreign exchange earnings through exports. Approximately 40% of its refined products will be allocated for international markets, bolstering the country’s economic position on the global stage. By capitalizing on its abundant resources and efficient production, Nigeria can diversify its revenue streams and strengthen its economic resilience.
Nigeria’s heavy reliance on imported petroleum products has long been a financial burden. In the year 2022 alone, the nation incurred a staggering expenditure of N10.1 trillion or $23 billion on importing these essential fuels.
However, with the commissioning of the Dangote Refinery, the trajectory is set to change. The refinery’s robust capacity and local production capabilities will substantially reduce Nigeria’s reliance on expensive imports, fostering economic growth and stability.
Nigeria’s external reserves, a crucial indicator of its economic health, presently stand at an impressive $35 billion. While this figure may seem substantial, it is important to note that it represents only six months’ worth of imports.
Recognizing the significance of maintaining adequate reserves for economic stability, Nigeria must continue its efforts to bolster and diversify its revenue streams.
The successful operation of the Dangote Refinery plays a vital role in this pursuit by generating foreign exchange earnings and reducing the drain on the country’s external reserves.
The Dangote Refinery in Lagos holds immense potential for Nigerians considering property investments in the area.By analyzing several key factors, we can better understand the capacity, impact, and economic context surrounding the refinery, highlighting the compelling reasons for individuals to seize this opportunity.
1.Job Creation and Economic Growth:
The establishment of the Dangote Refinery is set to generate a significant number of direct and indirect employment opportunities.
This influx of jobs will attract individuals from various regions, leading to a surge in demand for housing in Lagos.
Investing in properties located near the refinery presents an enticing prospect, as it can provide rental income or the potential for substantial resale value, considering the increasing workforce’s accommodation needs.
2. Population Growth:
As the refinery commences operations and draws a substantial workforce, the population in Lagos is anticipated to experience notable growth.
This population surge necessitates a corresponding increase in residential properties to meet the rising demand. Purchasing properties in close proximity to the refinery enables investors to benefit from the escalating need for housing and potential appreciation in property values.
3. Infrastructure Development:
The establishment of the Dangote Refinery will act as a catalyst for comprehensive infrastructure development in Lagos. To support the refinery and accommodate the growing population, enhanced transportation networks, roads, utilities, and social amenities will become imperative. Investing in properties situated near these infrastructure development projects can result in improved accessibility, convenience, and increased property values over time.
4. Foreign Investments:
The presence of the Dangote Refinery is expected to attract foreign investments, thereby enhancing Lagos’s overall economic outlook. Foreign investors seeking real estate opportunities are likely to concentrate on areas surrounding the refinery due to the projected growth and potential returns. Acquiring properties in close proximity to the refinery aligns investors with the influx of foreign capital, increasing the potential for long-term value appreciation.
5. Improved Standard of Living:
The economic benefits arising from the Dangote Refinery, such as job creation and increased foreign investments, will contribute to an improved standard of living in Lagos.
Investing in properties near the refinery allows individuals to reap the advantages of the refinery’s positive impact on the local economy and enjoy the amenities and infrastructure developments that follow. This, in turn, can lead to an enhanced quality of life for residents and potential appreciation in property values.
6. Reduction in Fuel Imports:
The primary objective of the Dangote Refinery is to fulfill Nigeria’s demand for refined petroleum products and reduce the nation’s reliance on fuel imports.
This shift will have a positive impact on the country’s trade balance and foreign exchange reserves, leading to a stronger economy. A more stable currency resulting from improved trade balance can make property investments in the area an attractive option for Nigerians seeking to preserve and grow their wealth.
Dennis Isong is a TOP REALTOR IN LAGOS.He Helps Nigerians in Diaspora to Own Property In Lagos Nigeria STRESS-FREE. For Questions WhatsApp/Call 2348164741041
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
-
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
-
society5 months agoReligion: Africa’s Oldest Weapon of Enslavement and the Forgotten Truth
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING