Economy
Dangote Refinery Debunks Shutdown Rumours, Assures Nigerians of Steady Petrol Supply
Dangote Refinery Debunks Shutdown Rumours, Assures Nigerians of Steady Petrol Supply
By Auwal Ahmad Umar
Dangote Petroleum Refinery has dismissed widespread reports suggesting it is planning a shutdown for maintenance, describing the claims as false, misleading and designed to misinform the public.
In a statement issued on Monday, the refinery clarified that its operations remain stable and uninterrupted, with the capacity to supply between 40 million and 50 million litres of Premium Motor Spirit (PMS) daily, depending on market demand. It disclosed that on January 4 alone, the facility produced 50 million litres of petrol, while 48 million litres were evacuated through its gantry.
According to the refinery, current stock levels are sufficient to cover more than 20 days of national consumption, effectively putting to rest fears of fuel scarcity.
Addressing concerns about maintenance activities, Dangote Refinery explained that routine work on some units, including the Crude Distillation Unit (CDU) and the Residual Fluid Catalytic Cracking (RFCC) unit, does not disrupt overall production. This, it said, is due to the refinery’s advanced and integrated design. Other critical units such as the Naphtha Hydrotreater, CCR Reformer and Hydrocracker remain fully operational, producing PMS, Automotive Gas Oil (diesel) and Jet A-1.
The company further revealed that from December 16, 2025, to date, daily PMS loadings from its gantry have ranged between 31 million and 48 million litres, in line with prevailing market demand. It noted that these figures are verifiable through depot loading records kept by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
Dangote Refinery also reaffirmed its ex-gantry price of N699 per litre for petrol, stressing that the rate is available to all marketers and bulk buyers. It urged filling stations and large-scale consumers to patronise locally refined products, which it said are more affordable, reliable and of superior quality compared to imported fuel.
The refinery accused some fuel importers of spreading false narratives to justify recent increases in pump prices, warning that such actions undermine national interest and worsen the burden on Nigerians. It argued that without local refining capacity, petrol prices could soar as high as N1,400 per litre in a post-subsidy market.
According to the statement, the operations of the Dangote Refinery have played a key role in stabilising the downstream petroleum sector by curbing price volatility, conserving foreign exchange and strengthening Nigeria’s energy security.
Reaffirming its commitment to the country, the refinery pledged to continue supplying high-quality petroleum products, ensuring steady availability and supporting economic growth. It advised the public and industry stakeholders to ignore unverified reports and rely on credible information sources.
Dangote Petroleum Refinery concluded that it remains focused on serving the national interest by promoting energy independence, market stability and industrial development in Nigeria.
Economy
Ashaka Cement Expansion: Inuwa Demands More Jobs for Gombe Indigenes
Ashaka Cement Expansion: Inuwa Demands More Jobs for Gombe Indigenes
By Auwal Ahmad Umar
Gombe State Governor, Muhammadu Inuwa Yahaya, has urged Ashaka Cement Plc to create more employment opportunities for Gombe indigenes and strengthen its Corporate Social Responsibility (CSR) programmes as the company moves ahead with its expansion project and transition to HBM Nigeria Plc.
The governor made the call on Tuesday while receiving the Managing Director of Ashaka Cement Plc, Ibrahim Aminu, at the Government House in Gombe. Their discussions centred on the company’s expansion plans, its transition to HBM Nigeria Plc, corporate social responsibility initiatives and tax-related matters.
Governor Inuwa Yahaya described Ashaka Cement as one of Gombe State’s most important industrial partners, noting that the company has played a significant role in the state’s economic growth and industrial development over the years.
“Ashaka Cement has remained a key partner in our industrialisation drive and socio-economic development. We appreciate the company’s contributions and encourage its management to further strengthen its Corporate Social Responsibility interventions for the benefit of our people,” the governor said.
He stressed that the company’s expansion should bring tangible benefits to residents by creating more jobs, especially for qualified indigenes from the host community.
“As the company expands, we expect to see more employment opportunities for our people, particularly those from the host communities. This will ensure that the benefits of industrial growth are shared more widely,” he added.
Governor Inuwa Yahaya also reaffirmed his administration’s commitment to sustaining policies that promote investment and economic growth, assuring existing and prospective investors of a peaceful and business-friendly environment.
“Our administration will continue to provide an enabling environment for businesses to thrive because industrial development remains critical to our economic transformation and job creation agenda,” he said.
Speaking earlier, the Managing Director of Ashaka Cement Plc, Ibrahim Aminu, thanked the governor for the cordial relationship between the company and the Gombe State Government.
He said the investor-friendly policies of the Inuwa Yahaya administration have strengthened the company’s operations and positioned it for sustained growth as it transitions to HBM Nigeria Plc.
“We appreciate the support of the Gombe State Government. The favourable business climate created by this administration has continued to enhance our operations and gives us confidence as we embark on this new phase of expansion and transition,” Aminu said.
He added that the expansion project is expected to boost the company’s operational capacity while increasing its contribution to the state’s economy through greater investment, employment opportunities and community development initiatives.
The delegation also included the Head of Corporate Affairs, Mohammed Aminu. The meeting was attended by the Attorney General and Commissioner for Justice, Zubair Muhammad Umar.
Economy
NGX Chairman Urges Integrity, Cautions Against Risks as Investment Boom Fuels Digital Assets Debate in Lagos
NGX Chairman Urges Integrity, Cautions Against Risks as Investment Boom Fuels Digital Assets Debate in Lagos
By Auwal Ahmad Umar
The Chairman of the Nigerian Exchange Group, Alhaji (Dr) Umaru Kwairanga, has called on investment advisers and portfolio managers to uphold professionalism and guard against emerging risks amid Nigeria’s sustained capital market growth.
Speaking at the 2026 Conference of the Association of Investment Advisers and Portfolio Managers held at Oriental Hotel, Victoria Island, Lagos, Kwairanga described the current phase of the Nigerian capital market as “exciting,” noting that renewed investor confidence has driven a bullish trend now entering its third year.
The conference, themed *“Fostering Enduring Operating Environment for Digital Assets Trading and Investments: Regulators/Operators’ Perspective,”* brought together key stakeholders across the financial ecosystem to examine the future of digital asset investments in Nigeria.
Kwairanga said recent policy reforms and strategic coordination among government, regulators, and market operators have contributed to improved investor sentiment.
“These are exciting times for the Nigerian capital market ecosystem, as recent policy decisions have reignited confidence and sustained a bullish trend,” he said.
However, he cautioned that periods of rapid growth often come with hidden dangers, warning investors and professionals against complacency.
“It is easy for investors to get carried away when asset prices keep rising and assume there are no risks. This is also a time when dubious investments and unqualified advisers tend to emerge,” he added.
The NGX Chairman stressed the need for members of the association to distinguish themselves through integrity, competence, and adherence to professional ethics. According to him, investment advisers must prioritize clients’ interests, maintain objectivity, and avoid conflicts of interest.
“You must demonstrate loyalty, prudence, and care in your dealings. When you uphold these values consistently, your credibility will grow, and so will your business,” he said.
Kwairanga also challenged the association to increase its visibility and influence within Nigeria’s financial sector, urging it to deepen engagement in policy discussions and organize more capacity-building initiatives.
> “You should not rest on past achievements. Your voice must be heard wherever investment and portfolio management issues are being discussed,” he noted.
On the growing relevance of digital assets, he commended the conference organizers for choosing a timely theme, describing the sector as both promising and widely misunderstood, particularly among young investors.
He urged stakeholders to ensure that deliberations at the conference translate into actionable recommendations.
> “Your discussions should be comprehensive and reflected in a communique to be shared with regulators like the Securities and Exchange Commission and the Nigerian Exchange Group for implementation,” he said.
Kwairanga further praised the association’s collaborative approach with other industry players, noting that such partnerships are essential for sustainable growth and reduced friction within the investment ecosystem.
He expressed confidence in the leadership of the association under its president and chairman of council, Alhaji Yusuf Modibbo, describing him as an experienced professional with deep industry knowledge.
The NGX Chairman concluded by wishing participants a productive conference, expressing optimism that outcomes from the gathering would strengthen Nigeria’s investment landscape, particularly in the evolving digital assets space.
Economy
Breaking Barriers: 15 Women Become Certified Truck Drivers in Gombe
Breaking Barriers: 15 Women Become Certified Truck Drivers in Gombe
By Auwal Ahmad Umar
In a move that is reshaping Nigeria’s logistics landscape, Lafarge Africa Plc has graduated 15 female truck drivers under its flagship Women on Wheels programme, along with five community drivers.
The colourful ceremony, held on Thursday at the Ashaka Cement Plant, marked the end of an intensive six-month training program designed to equip participants with the skills needed to safely operate heavy-duty vehicles in the country’s demanding construction sector.
The newly certified drivers underwent rigorous instruction covering advanced vehicle handling, defensive driving, fuel efficiency, and safety protocols.
The program is not only helping to bridge the shortage of qualified drivers; it is also promoting safe roads and challenging long-standing gender stereotypes in the industry.
Representing the state government, Deputy Governor Mannasseh Jatau praised the initiative, describing it as a powerful example of how private sector investments can transform lives.
He noted that empowering women through such programmes creates opportunities that ripple across communities.
“This initiative demonstrates a strong dedication to addressing genuine societal issues while providing women with the opportunity to excel in unconventional roles,” he stated.
In his remarks, the Group Managing Director and CEO of Lafarge Africa, Lolu Alade-Akinyemi, described the graduation as a moment of pride and progress. He said the program is redefining what’s possible in the logistics value chain and proving that excellence is not defined by gender.
“You have broken barriers and stepped into a space many thought was out of reach. Carry this achievement with confidence and continue to represent excellence,” he told the graduates.
Also speaking, the company’s logistics director, Osazemen Aghatise, highlighted the broader impact of the initiative, noting that it has created a growing network of over 100 female drivers across Lafarge operations nationwide.
“This programme is about creating access and building capacity. It is proof that when given the opportunity, women can excel in any field,” he said, while urging the graduates to uphold strict safety and professional standards.
The managing director of Ashaka Cement Limited, Ibrahim Aminu, described the milestone as significant not only for the company but also for the entire North-East region.
According to him, integrating the new drivers into operations will boost efficiency while addressing workforce gaps, particularly by ensuring that there are enough qualified personnel to meet the demands of the growing transportation sector.
Speaking on behalf of her colleagues, the best graduating driver, Judith Baka, expressed gratitude for the opportunity, noting that the training has opened a new chapter in her life and career.
The event drew notable guests, including the Emir of Funakaye, Yakubu Kwairanga, and the Federal Road Safety Corps Sector Commander in Gombe, Samson Kaura, alongside other government officials and stakeholders.
Since launching the Women on Wheels initiative in 2019, Lafarge Africa has trained over 100 female truck drivers, steadily building a more inclusive workforce and setting a new standard for gender participation in Nigeria’s construction and logistics sectors.
-
Politics4 weeks agoAPC National Chairman Settles Gombe Central Contest, Raises DCP Ahmed’s Hand as Party’s Senatorial Candidate
-
Striking the Balance1 week agoThe $2,500 Threshold: Why Raising Nigeria’s GDP Per Capita Is Our Best Non-Kinetic Strategy for Peace
-
Economy7 months agoNGX Ends Week in the Green as ₦1.54 Trillion Boosts Investors’ Fortunes
-
Sport4 months agoGombe Aquatic Sports Body Unveils Board, Sets Stage for Competitive Debut
-
Environment2 months agoWorld Environment Day: NGO Urges Nigerians to Embrace Nature-Based Solutions Against Climate Change
-
Education7 months agoDangote Launches Landmark ₦1 Trillion Scholarship Scheme to Support 1.3 Million Nigerian Students
-
Economy7 months agoCBN’s End to Cash Withdrawal Limit
-
Politics2 months agoAPC Primary Committee Declares Gombe Senatorial Polls Credible, Transparent


