Business
NLC Commends Dangote Refinery, Urges FG to Sell Adequate Crude in Naira to Reduce Fuel Prices
NLC Commends Dangote Refinery, Urges FG to Sell Adequate Crude in Naira to Reduce Fuel Prices
The Nigerian Labour Congress (NLC) has hailed the Dangote Petroleum Refinery as a transformative national asset, calling it a vital step in bridging Nigeria’s fuel supply gap, boosting employment, and restoring public confidence in the country’s industrial capacity.
Speaking during a tour of the refinery and Dangote Fertiliser Limited, the Chairman of the Nigeria Labour Congress, Lagos State Council, Comrade Funmi Sessi, who led the Executive members of the Council praised the massive scale and strategic significance of the Dangote Group’s investments, stating that the projects are delivering tangible benefits to the Nigerian people.
“Today, we have seen the massive Dangote Refinery project, as well as the fertiliser plant. We have also observed some of Dangote’s other investments in this axis. It is truly enormous and highly impressive,” said the NLC chairperson. “I believe what we have seen is a clear effort to bridge the gap in the availability of essential products in the country and to create job opportunities for Nigerians and others as well as industrialise the country.”
The union acknowledged that following the Federal Government’s removal of petrol subsidies, Nigerians experienced an unprecedented surge in the cost of Premium Motor Spirit (PMS). However, the entrance of Dangote Petroleum Refinery into the market helped to stabilise prices.
“It wasn’t until Dangote came into the picture that we started seeing some relief. His intervention significantly crashed the escalated prices of PMS and other refined products. That’s a clear demonstration of private sector leadership,” she stated.
The NLC made a direct appeal to the FG to prioritise the sale of crude oil to the Dangote Refinery in naira. The union argued that forcing the company to import crude or purchase locally in dollars undermines the promise of lower fuel prices for ordinary Nigerians.
“This country has crude oil in abundance. So why is Dangote still being made to import crude or pay for it in hard currency?” the NLC queried. “If the government is truly committed to reducing fuel prices and supporting local refining, it must sell crude oil to Dangote in naira.”
The union stressed that sourcing crude locally in local currency would significantly lower operational costs and, by extension, lead to a more sustainable reduction in fuel prices.
“With a daily capacity of 650,000 barrels, this refinery can serve Nigeria and even the West African sub-region. We also seen big ships taking fertilisers to other countries. The government must maximise”
The NLC lauded Alhaji Aliko Dangote for achieving a fully functional, world-class refinery capable of meeting both domestic and regional demands for refined petroleum products.
“When government-owned refineries failed, one man stepped up. Aliko Dangote didn’t just make promises; he fulfilled them. He has proven that Nigeria can not only refine its own products but also meet international quality standards,” she added.
The union also hailed the refinery’s production of Euro 5-compliant fuel, which features significantly reduced sulphur content, aligning with international environmental standards and boosting Nigeria’s credibility in the global petroleum market.
“This is the kind of pride we want to see — a Nigerian company producing at global standards. It is changing the narrative and elevating Nigeria’s position globally. It’s time the government supports and maximises the capacity of this asset”
In addition to fuel, the NLC noted the group’s fertiliser company, which is already exporting to international markets. It urged the government to leverage these capabilities to enhance food security and reduce dependence on imported agricultural inputs.
Vice President, Oil and Gas, Dangote Industries Limited, Mr Devakumar Edwin, said the planned deployment of 4,000 Compressed Natural Gas (CNG)-powered trucks to support the distribution of refined petroleum products across Nigeria is aimed at ensuring that the benefits of domestic refining and the resulting reduction in fuel prices are fully passed on to Nigerian consumers.
Mr Edwin stated that the introduction of the CNG-powered fleet is a strategic step to reduce logistics costs in fuel distribution — a major factor in the final pump price.
“The deployment of these 4,000 CNG-powered trucks will help us pass down the benefits of domestic refining and the reduction in product prices to consumers,” Edwin said. “The aim is to support logistics and make distribution more efficient, not to displace any existing players in the sector.”
He further explained that the use of CNG-powered trucks, in addition to being more environmentally friendly, will significantly reduce transportation expenses, ultimately making refined products more affordable for Nigerians.
Edwin also highlighted the wider impact of Dangote’s industrial ventures, particularly in stimulating competition and growth in key sectors of the Nigerian economy. He cited the Dangote Sugar Refinery as an example, noting that its success paved the way for other companies, including BUA Group and Nigerian Flour Mills to invest in sugar production.
“We’ve seen it with sugar, and we’ve seen it with cement. The success of Dangote Cement led to the emergence of players like BUA, Mangal, and the expansion of Lafarge,” he said. “In the same way, the success of this refinery will drive the emergence of more private refineries in Nigeria.”
According to him, the Dangote Refinery is not only helping to address Nigeria’s long-standing reliance on imported refined products but is also setting the pace for a sustainable and competitive refining industry that will benefit the broader economy.
He noted that the Dangote Group has become a nurturing ground for Nigerian engineers, scientists and technicians, many of whom have gone on to work as expatriates in various countries. He assured the labour leaders of the company’s steadfast commitment to human capital development, staff welfare, and the overall wellbeing of the economy, emphasising that Aliko Dangote is a patriotic Nigerian fully dedicated to the nation’s progress.
*Oceangate Engineering Oil & Gas LTD to appeal Federal High ruling over forfeiture assets*
Oceangate Engineering Oil & Gas Limited has said it will appeal to the recent ruling of the Federal High Court ordering the forfeiture of certain assets.
Barr. Nnenna Onyeaso, the Company Secretary said in a statement on Thursday insisting that neither the company nor its leadership was found guilty of any wrongdoing.
Onyeaso said that the firm has described the court’s decision as a civil asset forfeiture order based on suspicion rather than proof, stressing that the judgment did not establish any criminal liability against the organisation.
According to her, the company maintain that it has already directed its legal team to file an appeal, expressing confidence in the judicial process and the outcome of a thorough review of the case.
“To be clear, this ruling is a civil asset forfeiture order with no finding of wrongdoing against Oceangate or its leadership.
“The court’s decision rested on a legal standard of suspicion, not proof, and it is one we intend to pursue fully through the appeals process,” she said in a statement.
The firm secretary also said that Oceangate has reiterated its belief in the rule of law, noting that the appellate system exists to address such outcomes.
She added that the company remained confident that the facts of the case will ultimately affirm its integrity and business practices.
Onyeaso said that the firm also emphasised that its operations remained unaffected, stating that it continues to provide employment for many Nigerians while contributing to the country’s energy sector and broader economy.
“We have always believed in the ability of the judicial process, and that belief has not wavered,” she added.
She noted that Oceangate further expressed appreciation to its employees, partners, and clients for their continued support amid the development, assuring stakeholders of its commitment to transparency and accountability.
The Secretary said that the company reaffirmed its confidence in Nigeria as a viable destination for investment, describing the country as a land of equity, growth, and opportunity.
“We remain committed to the continued growth of our business and the communities we serve as we are optimistic that justice will prevail at the end of the legal process.
FirstBank Empowers SMEs with AI-Driven Growth Strategies, Hosts SMEConnect Webinar
Lagos, 20 March 2026 – FirstBank, West Africa’s premier financial institution and financial inclusion services provider, is pleased to announce the upcoming edition of the SMEConnect Webinar scheduled to hold on Tuesday, 31 March 2026. The event will equip small and medium-sized enterprises (SMEs) with the knowledge and tools to harness the power of Artificial Intelligence (AI) for business growth.
This edition is strategically curated to inform and educate SMEs on how AI can be applied to scale their businesses in today’s rapidly evolving digital economy. The chosen theme, “AI for Business Growth: From Adoption to Integration and Scalable Impact,” reflects the growing importance and timeliness of AI as one of the most influential trends shaping the SME business landscape. The session will provide SMEs with actionable insights on how to leverage AI to enhance productivity, streamline operations, strengthen customer engagement, and make smarter, data-driven decisions.
The SMEConnect webinar will feature experts, including Temitope Odude, Senior AI Solutions Architect at Microsoft as a guest speaker. Odude will provide credible and globally relevant perspectives on how SMEs can successfully adopt and integrate AI into their everyday business operations. Other speakers include Abednego Ugwueke, Head of Digital Channels and Ibidun Adedewe, Head of SME Acquisition & Partnerships at FirstBank.
Speaking ahead of the event, Chuma Ezirim, Group Executive, e-Business and Retail Products at FirstBank, said “SMEs are the backbone of the Nigerian economy, and at FirstBank, we recognise that the economy cannot thrive without them. As a committed growth partner to SMEs, this session reinforces our strong focus on innovation, demonstrated through initiatives such as the use of AI‑enabled credit scoring to deliver fast, instant loans to micro‑SMEs, with over ₦1 trillion disbursed to support customers’ financial needs. Building on this foundation, we are equipping business owners with the right knowledge and practical insights on Artificial Intelligence to help them scale in the short term and drive sustainable growth. I encourage every business owner to participate in this session to gain hands‑on guidance on integrating AI into everyday business operations.”
SME owners and entrepreneurs can register for the webinar at https://firstbanknigeria.zoom.us/webinar/register/WN_cUr1LhWFQXymTqWtONOOVg
SMEConnect Webinar series is one of FirstBank’s signature platforms for supporting SMEs with practical knowledge and strategic insights. The Bank has consistently won awards for impacting businesses and for providing innovative solutions for customers and other stakeholders, including SMEs.
The Bank was named Best SME Bank in Nigeria and Best SME Bank in Africa by TAB Global Excellence in Retail Finance Awards for 2 years as at 2025. The Bank also won the SME Financier of the Year- Nigeria awarded by The Digital Banker.
EvaluatePR to Explore “PR After the Algorithm: Trust, Truth & Intelligence in 2026
P+ Measurement Services, Nigeria’s leading independent media intelligence and PR measurement agency, will host the 31st edition of its flagship thought-leadership platform, EvaluatePR, on Friday, March 27, 2026, at 12:00 p.m. (WAT).
Themed “PR After the Algorithm: Trust, Truth & Intelligence in 2026,” this virtual session will convene professionals across public relations, communications, and media measurement to explore how algorithms, artificial intelligence, and digital ecosystems are reshaping reputation management, media influence, and audience trust.
With the increasing role of automation in communications, the event will challenge professionals to rethink how credibility is built and sustained in a fast-evolving digital landscape, while emphasizing the need for transparency, ethical measurement, and strategic intelligence.
The session will feature a distinguished lineup of speakers representing diverse expertise across global communications, media intelligence, and analytics: Felicia Nugroho – Director, Analytics & Insights, Maverick Indonesia / Chair, Asia Pacific & International Board Director, AMEC; Cyrille Djami – Founder & Publisher, CommsOfAfrica; Strategic Communications, Editorial and Influence Consultant; Amrita Sidhu – Managing Director, Medianet / Director & Board Representative, AsiaNet / Board Member, AMEC; and Satira Osemudiamen Oreweme – Principal Consultant, Satira Media & Public Relations Limited.
Together, they will lead insightful discussions on how communicators can navigate the intersection of technology and trust, maintain authenticity in automated environments, and leverage data-driven intelligence to deliver meaningful communication outcomes.
Participation in the session is free, with access available via the official registration link:
https://bit.ly/4stWjUh
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