Business
Dangote Refinery: Where National Interest Supercedes Personal Gain
Dangote Refinery: Where National Interest Supercedes Personal Gain
By Best Agbese
The Dangote Refinery and Petrochemical Company, located in Lekki, a suburb of Lagos, is seven times the size of Victoria Island, another high-end area in Lagos State. The refinery boasts of more than 350 concrete bridges, a port for oil vessels, and approximately 5,000 neatly built apartments for its staff. The refinery also incorporates the largest granulated urea fertilizer complex in Africa and sits on 500 hectares of land.
Considering the gigantic scale of the newest refinery in the world, it would be apt to submit that Alhaji Aliko Dangote, the founder and CEO of the Dangote Group, is the epitome of courage, resilience, and patriotism. His readiness to contribute to the overall development and growth of the nation’s economy is evident in his numerous impactful interventions at critical moments in our nationhood.
Sincerely speaking, it takes great courage for an individual to envision a world-class gigantic project like the Dangote Refinery. In his case, Aliko Dangote not only visualized the possibility of constructing one of the world’s largest refinery plants but also saw it through to realization. For a businessman and entrepreneur to venture into such a capital-intensive project in an unpredictable business environment marked by policy flip-flops and unhealthy politicization is quite remarkable.
Only a patriotic investor who is deeply committed to the unity and economic growth of his country can attempt such a bold step. With this historic move in the oil sector, Aliko Dangote stands alone in the pantheon of patriotic business leaders in Nigeria.
One very notable fact is that the rising price of petroleum products in Nigeria has resulted in significant hardship, particularly for the average Nigerian. While the current hardship caused by the fuel subsidy removal, intended to address long-term economic challenges, has had a detrimental impact on many, the immediate effect of the subsidy removal policy has further exacerbated the wealth gap between the rich and the poor.
In the context of this harsh reality, one can conclude that the Dangote Refinery and Petrochemical Company represents a glimmer of hope for Nigerians. As one of the largest refineries in the world, located in Nigeria, the refinery has the potential to refine petroleum products locally, eliminating the need for costly imports that have reduced Nigeria to a “beggar nation” over the past decades.
Local production of Premium Motor Spirit (PMS) could reduce pricing, as there would be no need to factor in high landing costs associated with fuel importation. The Dangote Refinery, at full capacity, will process 650,000 barrels of crude oil daily, making it competitive with the United States’ largest refinery and over 50% bigger than the largest refinery in Europe.
Although the refinery is intended to refine domestically produced crude to bolster the heavily oil-dependent local economy, which has been marked by crises in recent times, it also can refine foreign crude. While the exit of Shell Exploration Company and other major international oil companies from the domestic market may pose challenges for the Dangote Refinery in terms of crude oil supplies and achieving its goal of changing the narrative in the nation’s oil sector, it is also important to acknowledge that the sheer scale of the Dangote Refinery will nonetheless turn Nigeria into an “oil market juggernaut”.
According to a recent New York Times report, although the refinery has yet to debut in the domestic and international market space, the Dangote Refinery is already making waves in the global market and has affected major market indicators and determinants. Aliko Dangote, the billionaire Nigerian businessman who spearheaded the refinery’s construction and development, is well aware of the challenges facing the nation’s oil and gas sector.
He has repeatedly reiterated his commitment to driving the troubled sector towards efficiency and reliability. His mission is to make a positive impact on the capacity and fortunes of local refineries across the country. To many, including cynics who doubted that an individual could successfully build one of the world’s largest refineries, the knowledge of the refinery’s impact on the global energy index must have generated a highly positive response.
It is noteworthy that the Nigerian economy, which has experienced slow growth over the last 20 years, is set to witness a dramatic turnaround in the coming months. The positive impact of the Dangote Refinery on the nation’s economy will translate to a better standard of living for every Nigerian. It will reflect directly on Nigeria’s foreign reserve, reducing pressure on the Naira and stabilizing commodity and fuel prices.
Certainly, the Dangote Refinery and Petrochemical Company is a game-changer for Nigeria, meeting domestic needs and producing a surplus for export. Already, the refinery has resumed production of high-quality Premium Motor Spirit (PMS), which is set to enter the domestic market. Aviation fuel and other products are expected to be rolled out into both domestic and international markets within September.
Candidly, Aliko Dangote has put many naysayers to shame. They were wondering how possible it would be for an individual to accomplish what a country or a continent could not achieve. In a nutshell, the Dangote Refinery and Petrochemical Company symbolizes not only the strength and potential of Nigeria’s industry but also the dedication, patriotism, and vision of one of Nigeria’s most esteemed business leaders, Alhaji Dr. Aliko Dangote.
Therefore, it is succinctly true to admit with all sense of patriotism that although Aliko Dangote is not a saint, he has given Nigerians something to be proud of as a country. The Dangote Refinery and Petrochemical Company may become what Toyota is to Japan and what Citroen is to France – a brand and a source of pride.
Agbese is an oil and gas expert based in Dundee, United Kingdom.
Business
FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS
FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS
The Chief Press Secretary (CPS) to the Chairman of the Independent National Electoral Commission (INEC), Mr. Adedayo Oketola, has said that a purported X (formerly Twitter) account attributed to the Commission’s Chairman, Prof. Joash Ojo Amupitan, SAN, is fake and part of a coordinated disinformation campaign.
In a public statement issued on Monday in Abuja, Mr. Oketola disclosed that a comprehensive, multi-layered forensic investigation conducted by independent cybersecurity experts has conclusively established that the INEC Chairman does not operate any personal X account.
He said, “The Independent National Electoral Commission (INEC) , committed to a full forensic investigation, commissioned an independent forensic cybersecurity expert, who conducted a multi-layered forensic and digital investigation using X platform data, internet archive records, OSINT tools, identity forensics and cross-platform analysis.”
Oketola stressed that all posts, replies, and screenshots linking him to the handle @joashamupitan are fraudulent, forensically unverifiable, and technically impossible.
The controversy began on April 10, 2026, when viral social media posts alleged that the Chairman made a partisan comment — “Victory is sure” — in response to another user, supported by screenshots and purported digital records.
However, the CPS said the forensic investigation uncovered clear evidence of fabrication and impersonation, highlighting the following key findings:
· No Digital Linkage: There is no connection between the disputed X account and Prof. Amupitan’s verified email addresses or phone numbers, as multiple recovery and verification attempts failed to establish any link.
· False BVN/OPay Claims: Data used to suggest ownership of the account only confirms identity and does not establish control of any social media handle, making such claims a logical fallacy.
· Timestamp Manipulation: The alleged reply “Victory is sure” was posted 13 minutes before the original tweet it responded to—an occurrence that is technically impossible and definitive proof of fabrication.
· No Historical Record: Searches on the Internet Archive’s Wayback Machine showed zero evidence of the account or its alleged activity prior to April 2026.
· Non-Existence on X Platform: Live checks confirmed that the alleged reply does not exist and has never existed on the platform.
· Account Renaming Pattern: On the same day the screenshots went viral, the account was renamed @sundayvibe00, set to private, and labelled a “parody account,” indicating deliberate impersonation and damage control.
· Coordinated Multi-Platform Impersonation: At least seven fake accounts across Facebook and Instagram using the Chairman’s identity were identified, pointing to a sustained disinformation effort.
“The forensic evidence is comprehensive, multi-sourced, and unambiguous. The posts attributed to Prof. Joash Ojo Amupitan on X are fabricated. The account is a clear case of impersonation,” Mr. Oketola said.
Quoting one of the independent investigators, he described the development as “a coordinated digital impersonation and disinformation campaign,” warning that advances in artificial intelligence had made it easier to fabricate misleading content.
He urged the public to avoid sharing unverified information, noting that “the fact that content goes viral does not make it authentic,” and called on media organisations to prioritise accuracy over speed.
Mr. Oketola said the independent forensic report had been referred to the law enforcement agencies for necessary action. He also appealed to law enforcement agencies to investigate the origin of the fake account and prosecute those responsible under the Cybercrimes (Prohibition, Prevention, etc.) Act.
He said, “Media organisations, in particular, have a duty to apply strict forensic verification standards to social media posts and screenshots before publishing them, especially when such content implicates public officials or carries serious consequences for public trust and institutional credibility. Accuracy, not speed, must guide reporting in matters of this nature.”
He reiterated that all official communications from INEC are disseminated exclusively through its verified platforms, including its website (www.inecnigeria.org), verified X account (@inecnigeria), official Facebook page, online news portal (www.inecnews.com), formal press statements from its headquarters in Abuja, and official media briefings. Any account purporting to represent the INEC Chairman in a personal capacity, he said, should be treated as fraudulent unless formally verified by the Commission.
Business
How FirstBank is investing in Its People and Building Future Leaders
How FirstBank is investing in Its People and Building Future Leaders
For an average 9-5er, having a job isn’t enough. You want a career that grows with you, gives you stability, and opens doors to bigger opportunities. People everywhere are looking for workplaces that don’t just pay salaries but actually invest in their staff, helping them learn, lead, and succeed.
That’s exactly what FirstBank is doing. The Bank is building a future where every employee has the opportunity to grow, lead, and thrive. Through its human capital management and development agenda, FirstBank is creating numerous pathways for staff to transform their careers and become tomorrow’s leaders.
Conversion Programme: Turning Opportunities Into Careers
Needless to say that there is no desire for the 9-5er to remain in a temporary role when they can secure a full-time career. With FirstBank’s Conversion Programme, eligible non-core employees who have served for at least one year can transition into permanent positions. This initiative ensures that hardworking staff are rewarded with stability, growth, and the chance to contribute more meaningfully to the Bank’s success.
Leadership Programmes: Grooming the Next Generation
FirstBank has designed three flagship programmes to identify and nurture high-potential talents:
- FirstBank Management Associate Programme (FMAP): A 24-month fast-track initiative that grooms future middle managers. Upon completion, participants are promoted to Assistant Manager grade, regardless of their previous grade.
- Leadership Acceleration Programme (LAP): Focused on preparing internal middle-management talents for leadership responsibilities, ensuring the Bank’s succession pipeline remains strong.
- Senior Management Development Programme (SMDP): A programme for senior managers who are proven leaders in their functions and critical to the Bank’s succession plan.
These programmes are not just training—they are career accelerators, designed to put staff on the fast lane to leadership.
FirstAcademy: Learning With Global Standards
Backing these initiatives is FirstAcademy, FirstBank’s corporate university, accredited by the Chartered Institute of Bankers of Nigeria (CIBN).
Staff also benefit from partnerships with institutions like Rome Business School and Association of Chartered Certified Accountants (ACCA), gaining access to world-class training—often at discounted rates
A Workplace That Values People
FirstBank’s parent company, First HoldCo PLC, was named second in the Best Workplaces in Financial Services in Nigeria. The Bank remains firmly committed to responsible employment practices, ensuring that all colleagues are treated with dignity, fairness, and respect.
The Future Is Human
With these initiatives, FirstBank is showing that its greatest investment is its people. By empowering staff through various growth opportunities, the Bank is not just building a workforce, it is cultivating leaders who will shape the future of banking in Nigeria and beyond.
Business
FirstBank Partners Ekiti State Government on Launch of Innovation Enterprise Support Fund
FirstBank Partners Ekiti State Government on Launch of Innovation Enterprise Support Fund
Lagos, 10 April 2025 – FirstBank, West Africa’s premier financial institution and the leading financial inclusion service provider, is proud to announce its partnership with the Ekiti State Government in launching the Innovation Enterprise Support Fund, a groundbreaking initiative designed to empower startups, scale tech-enabled businesses, and accelerate innovation-driven economic growth across the state.
The programme provides funding, mentorship, and market access to high-potential enterprises, with a focus on strengthening Ekiti’s innovation ecosystem, creating jobs, and supporting youth, women, and underserved communities. Notably, at least 40 percent of the fund has been reserved for female-led enterprises.
The Innovation Enterprise Support Fund Initiative is structured as a three-phase programme covering ideation, pre-acceleration, and acceleration for about 60 startups. Each enterprise will receive financial support ranging from ₦150,000 to ₦1,200,000, enabling job creation, revenue generation, and market-ready product launches.
Speaking on the partnership, the Managing Director/Chief Executive Officer, FirstBank Group, Olusegun Alebiosu, said “Entrepreneurship and Innovation are two of our core values at FirstBank. We believe MSMEs are enablers of economic growth and for 132 years, we have stood beside Nigerian businesses through every phase of growth, transition and transformation. We have remained committed to building stronger business through improved access to finance and capacity building; we created the SME Connect Platform to serve as a digital hub where Nigerian entrepreneurs find the resources to move from vision to value. We are excited about this partnership, and we see more than startups. We see future industry leaders, employers of labour, and perhaps our next big partners.”
The partnership aligns with FirstBank’s longstanding commitment to financial inclusion, SME development, and youth empowerment, with an emphasis on supporting women entrepreneurs, who represent 35% of Nigeria’s startup cohort.
FirstBank has been a consistent promoter and supporter of the innovation ecosystem and SMEs in Nigeria, providing notable interventions to help them scale their platforms and businesses. The Bank has designed multiple digital platforms for its SME customers to leverage on for business growth and expansion.
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