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