APO Group, the leading pan-African communications and news
distribution consultancy, has been selected by Emirates, one of the
world’s largest international airlines, as its public relations partner of
record for Africa with immediate effect.

Under the partnership, APO Group will support Emirates by providing
strategic counsel, integrated public relations, and stakeholder
engagement in South Africa, Kenya, Tunisia, Uganda, Senegal, Ivory
Coast, Congo, Guinea, Tanzania and Egypt. The collaboration is
designed to reinforce Emirates’ visibility in the region and ensure
consistent, insight-led communications that support brand and
commercial objectives.
By leveraging APO Group’s continent-wide network and expertise,
Emirates will deepen its connection with pan-African audiences, local
media, and industry partners. The appointment reflects Emirates’
continued investment in the continent and its commitment to maintaining
a strong and responsive communications presence. It also aligns closely
with APO Group's mission of pioneering the future of communication and
being the channel for Africa’s voices.

The management of Dangote Refinery has confirmed that the distribution of free fuel will commence today (Monday), as planned. This was disclosed in a statement released on Sunday evening by the management.

 The statement also faulted the recent criticisms from certain oil and gas industry associations, which it said were strategically aimed at undermining their planned initiative for distributing the free fuel. 

The statement reads: “have made it abundantly clear that the actions and threats issued by them is not borne out of legitimate concerns about unionisation, but a calculated campaign of economic sabotage that is orchestrated by vested interests who perceive progress as a threat to their entrenched positions.

“In January 2022, the Nigerian National Petroleum Company (NNPC) reported that one of DAPPMAN’s members had supplied petrol containing over 15% methanol, well above acceptable limits (Methanol which is not a standard industry practice or procedure for refinery, but blenders use it to prompt up the octane rating to an acceptable level that is well above anti-knocking ratio). 

“The result was widespread engine damage for thousands of end users. Yet, no transparent government inquiry or independent investigation was ever conducted to determine the source, intent, or full impact of the adulterated fuel.

“This figure reflects the very scenario that DAPPMAN and its affiliates appear to advocate for in Nigeria. The Dangote Refinery has positioned Nigeria as a primary source of affordable petrol feedstock for West Africa, despite the refinery importing over 60% of the crude oil it processes. Remarkably, the refinery is able to offer petrol at prices below the international benchmark within the sub-Saharan region. 

“It is increasingly evident that DAPPMAN and some of its members are disproportionately focused on the importation of refined products, even admitting to round-tripping, whereby petrol produced by the Dangote Refinery is re-imported from Togo into Nigeria at a markup, the statement further revealed another hole in their narrative of being the major supplier of petrol in the country.”

Nigerian billionaire businessman, Femi Otedola, has opened up on a tense confrontation he had with former President Olusegun Obasanjo in 2004 over the deregulation of diesel importation, a policy the businessman had championed.

Otedola, in his forthcoming memoir, Making It Big: Lessons from a Life in Business, set for release on August 18, 2025, revealed how the policy shift initially sparked anger from the president following reports of nationwide diesel scarcity. 

At the time, Otedola, through Zenon Petroleum, had persuaded Obasanjo that the private sector could fully meet Nigeria’s diesel needs without the Nigerian National Petroleum Company (NNPC). Before deregulation, NNPC had been importing diesel below market rates and receiving government subsidies. Once deregulation was implemented, Zenon rapidly secured dominance in the market. 

However, according to Otedola, competitors moved swiftly to undermine him by convincing Obasanjo that the change had disrupted supply, crippled transport, and was forcing industries to shut down. 

The oil mogul recounts receiving an enraged phone call from the president at 2 a.m. “You’re a stupid boy! God will punish you! You persuaded me to deregulate diesel, and now there’s no diesel in the country!” Obasanjo allegedly shouted. 

Caught by surprise, he flew to Abuja to meet the president. He said, “As soon as Obasanjo saw me, he flew into a rage again. ‘What kind of rubbish is this? ‘What kind of rubbish is this? What kind of nonsense is this?’ He was right in my face, screaming at the top of his lungs.” He said he never said a word until Obasanjo stopped talking. 

He then explained the situation to him, saying, “Baba, they’re lying to you. It’s all lies. I have six ships waiting to discharge big supplies of diesel.”

Otedola also maintained that some competitors who feared losing lucrative importation privileges and subsidy earnings were behind the misinformation. He explained that to dispel the rumours, he proposed that the presidency sponsor adverts in national newspapers to publicise the availability and pricing of diesel. He said the step he took convinced Obasanjo, which made him stand by the policy and dismiss the claims of his competitors.

The deregulation of diesel in 2004 marked the first time a petroleum product in Nigeria was completely freed from subsidy, a move Otedola says dismantled entrenched rent-seeking in the sector.

“Obasanjo was a determined and robust president. Jealous people did not easily sway him.

Once he made up his mind that someone was trustworthy and genuine, as he seemed to do about me that day, he stopped listening to the naysayers,” he concluded.

The new fund includes $500m for addressing governance issues that constrain the delivery of education and health (HOPE-GOV), $570m for the Primary Healthcare Provision Strengthening Program (HOPE-PHC) and $500m for the Sustainable Power and Irrigation for Nigeria Project (SPIN).

In support of FG’s newly launched reforms in the health sector, the World Bank said under the Health Sector Renewal Investment Initiative, the HOPE-PHC project will improve the quality and utilisation of core reproductive, maternal, newborn, child, and adolescent health and nutrition services to substantially reduce maternal and under-five mortality and to improve the resilience of the health system— benefiting 40 million people, especially vulnerable populations.

The project is financed by a concessional $500m International Development Association (IDA) credit and an additional $70m in grant financing from the Global Financing Facility for Women, Children and Adolescents (GFF).

“Effective investment in the health and education of Nigerians today is central to increasing their future employment opportunities, productivity, and earnings while reducing poverty of the most vulnerable. This new financing for human capital and primary healthcare will help to address the complex difficulties faced by Nigerians, especially women and girls around access and quality of services, but also the governance arrangements that also explain these difficulties” said Dr. Ndiamé Diop, the World Bank Country Director for Nigeria.

“The SPIN program is timely and will protect Nigerians from floods and droughts in the areas where it will be implemented while enabling an increase in hydropower generation. The direct positive impact of this project on people and livelihoods is enormous, The World Bank is pleased to work with the government and other stakeholders to deliver this program,” Diop added.

Recall that there has been a dispute between NNPC Limited and Dangote Refinery over the cost per litre of petrol from the refinery. NNPC Limited has claimed to be buying petrol at ₦898/litre from Dangote. However, the refiner disputed the figure, stating that it is selling less than the amount. Speaking on the situation, the lawmakers asked NNPC to disclose the amounts the refinery is paying for crude oil.

The lawmakers also urged the management of Dangote Refinery to build, acquire or partner to get Tank Farms or depot across the geo-political zones in the country. In the motion, Oforji commended the refinery for its impact on energy sovereignty of the country.

“Nigeria is driving towards energy self-sufficiency, cost and foreign exchange savings, meeting the increasing demand for fuels, attraction of foreign capital investment, generation of Forex through export of finished product,” he said. To achieve sustainability, Oforji said Dangote Refinery should sell products directly to independent marketers. The motion was adopted unanimously by the lawmakers.

The NNPC Ltd. said it bought fuel from the Dangote Refinery at N898 per litre for PMS offtake.

Mr Olufemi Soneye,  the Chief Corporate Communications Officer, NNPC Ltd. made this known on Monday.

This followed a denial by Dangote Refinery on Sunday after the NNPC Ltd.’s initial disclosure of N898 pump price obtained from the refinery.

The News Agency of Nigeria (NAN) reports that the Dangote Refinery commenced the first loading of PMS at its facility in the Ibeju-Lekki area of Lagos State on Sunday.

The Refinery had on Sunday described the disclosure made by the NNPC Ltd. as ‘misleading and mischievous’ aimed at undermining the milestone achievement recorded by the refinery in addressing Nigeria’s energy insufficiency.

Dangote Refinery’s Group Chief Branding and Communications Officer, Anthony Chiejina had in a statement urged Nigerians to disregard NNPC Ltd.’s statement and await a formal announcement on the pricing by the Technical Sub-committee on Naira-based crude sales to local refineries on Oct. 1.

Chiejina, while failing to tell Nigerians the price at which the refinery sold its fuel to the NNPC Ltd., said its current stock of crude was procured in dollars and sold to the NNPC Ltd. in dollars with a lot of savings against current imports.

Reacting to this, the NNPC Ltd.’s Spokesperson said in line with the provisions of the Petroleum Industry Act (PIA), PMS prices were not set by Government, but negotiated directly between parties on an arms length.

“The NNPC Ltd. can confirm that it is paying Dangote Refinery in United States Dollars (USD) for September 2024 PMS offtake, as Naira transactions will only commence on Oct. 1, 2024.

“The NNPC Ltd. assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100 per cent to the general public.

“Attached to this statement are the estimated pump prices of PMS obtained from the Dangote Refinery across NNPC Retail Stations in the country, based on Sept. 2024 pricing,” the spokesperson said.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, made this confirmation on Tuesday via its X handle, @NMDPRA_Official.

According to NMDPRA, the NNPCL reached an agreement to commence crude oil sale and supply to Dangote Refinery in local currency.

The agency also said the refinery was determined to supply an initial 25 million litres per day of the Premium Motor Spirit (PMS) into the domestic market in September 2024, adding that the refinery will increase the volume to 30 million litres per day in October.

“The refinery is now poised to supply an initial 25 million litres of PMS into the domestic market this September. And will subsequently increase this amount to 30 million liters daily from October 2024,” it said.

Africa’s richest man disclosed this in a statement on Thursday.

He was responding to a report that the NNPC supplies Dangote Refinery with about 60 percent of the 50 million barrels lifted.

In the statement, Dangote noted that the primary challenge confronting the refinery is NUPRC’s reluctance to enforce domestic supply obligations by IOCs in Nigeria.

He explained that when Dangote Refinery approached the IOCs for crude supply, they either redirected the company to a third party or responded that their cargoes were committed.

“Our concern has always been NUPRC’s reluctance to enforce the domestic crude supply obligation and ensure that we receive our full crude requirement from NNPC and the IOCs.

“For September, our requirement is 15 cargoes, of which NNPC allocated six. Despite appealing to NUPRC, we’ve been unable to secure the remaining cargoes.

“When we approached IOCs producing in Nigeria, they redirected us to their international trading arms or responded that their cargoes were committed,” he said.

Recall that in July 2024, the NUPRC directed oil refiners in the country to provide monthly price quotes on crude supply to address the challenges facing Dangote Refinery.

In a move to address the crude supply challenge faced by Dangote Refinery, President Bola Tinubu directed NNPCL to sell crude in Naira to the company and other local refineries.

However, as of the time of filing this report, Tinubu’s directive is yet to be implemented.

The MPC had maintained a hawkish stance to tame inflation since it resumed meeting this year and thus far, it has hiked rate by more than 500 points.

The rate was raised to 26.25 per cent in May.

However, with inflation moving to 34.19 per cent in June, according to the National Bureau of Statistics, the headline inflation increased by 0.24 per cent relative to the May 2024 headline inflation rate which was 33.95 per cent.

On a year-on-year basis, the headline inflation rate was 11.40 per cent points higher than that of June 2023 (22.79 per cent).

Also, on a month-on-month basis, the headline inflation rate in June 2024 was 2.31 per cent, which was 0.17 per cent higher than the rate recorded in May 2024 (2.14 per cent), meaning that the rate of increase in the average price level was higher in June than in May.

Repeatedly, the CBN governor has maintained that the MPC members were committed to price stability and were willing to keep tightening until inflation is tamed.

owry Asset Management, in its weekly report, projected a 25bps to 50bps hike in interest rates, while the Meristem report anticipates “a 100 basis point increase in the monetary policy rate to 27.25 per cent while likely keeping other parameters unchanged. Overall, we anticipate that the committee will prioritize inflation control and capital inflow sustainability, crucial for maintaining a stable exchange rate system, and accordingly, implement a rate hike to achieve these objectives.”

The 650,000 barrel-per-day refinery, which commenced operations last year after over a decade of construction, represents a $19 billion investment, significantly exceeding the initial estimate of $9 billion.

The refinery was envisioned to reduce Nigeria’s dependence on imported fuel and save approximately 30% of the country’s foreign exchange expenditure on imports.

Dangote’s offer to hand over ownership is seen as a strategic move to resolve the ongoing conflict and ensure the refinery’s smooth operation.

The refinery, located in Lagos, is a critical asset for Nigeria, which is Africa’s largest oil producer yet relies heavily on imported fuel due to its underperforming domestic refineries.

The successful operation of the Dangote refinery is expected to transform Nigeria’s oil sector, boosting local production and significantly reducing the nation’s fuel import bill.

“Let them (NNPCL) buy me out and run the refinery the best way they can. They have labelled me a monopolist. That’s an incorrect and unfair allegation, but it’s OK. If they buy me out, at least, their so-called monopolist would be out of the way.

“We have been facing fuel crisis since the 70s. This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, run the refinery,” Mr Dangote told PREMIUM TIMES in an exclusive interview on Sunday.

The multisectoral investor’s big bet on oil and gas, which he ventured into following years of relatively stress-free dominance of Nigeria’s cement, salt and sugar industries, is turning out problematic in its early days.

Set for its first roll-out of petrol to the Nigerian market in August, the mammoth plant has been operating just above half its capacity since the January start of refining operations, constrained in part by difficulties in sourcing crude from international producers.

Dangote Refinery said those companies are either demanding outrageous premiums before agreeing to supply crude or simply claiming the product is unavailable.

NNPC, once a sweetheart of the refiner before the current dispute soured relations, had delivered only 6.9 million barrels of oil to the plant as of May since last year, according to S&P Global Platts, a tracker of supply data.

NNPC Limited has a supply deal with the company dating back to the commencement of operations and previously agreed to a 20 per cent equity participation, the refinery saying only 7.2 per cent has been fully paid for before the deadline issued to the company to acquire the stake.

Starving the refinery of the feedstock required to keep it running at present capacity means it has turned to countries like Brazil and the US to bridge the gulf in supply.

“As you probably know, I am 67 years old, in less than three years, I will be 70. I need very little to live the rest of my life. I can’t take the refinery or any other property or asset to my grave. Everything I do is in the interest of my country,” Dangote said.

“This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, run the refinery. At least the country will have high-quality products and create jobs,” he added.

Mr Dangote said the obstacles his refinery is facing seem to have vindicated friends and associates who counselled him to tread with caution as he pumped billions of dollars into the Nigerian economy.

“Four years ago, one of my very wealthy friends began to invest his money abroad. I disagreed with him and urged him to rethink his action in the interest of his country. He blamed his action on policy inconsistencies and shenanigans of interest groups. That friend has been taunting me in the past few days, saying he warned me and that he has been proven right,” the businessman said.

Last month, Devakumar Edwin, who serves as the vice president of oil and gas at the Dangote Group, accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of allowing marketers to import dirty fuel into the country.

That has drawn a reprisal from the main watchdog of Nigeria’s midstream and downstream operations whose chief, Farouk Ahmed, claimed diesel from the plant as well as the one from modular refineries like Waltersmith and Aradel, contain high sulphur levels.

A high sulphur content in fuel could be injurious to vehicle engines and is known to be harmful to the environment in that it further heats up the fast-warming climate.

“The AGO quality in terms of sulphur is the lowest as far as West Africa’s requirement of 50 parts per million (ppm). Dangote refinery, as well as some major refineries like Waltersmith refinery, produce between 650 ppm to 1,200 ppm. So, in terms of quality, their quality is much more inferior to the imported quality,” Mr Ahmed told journalists last Thursday.

On Saturday, Mr Dangote debunked the claim during a tour of both the Dangote Petroleum Refinery and the Dangote Fertiliser Limited complex by members of the House of Representatives, the Speaker of the House of Representatives, Tajudeen Abbas and other members.

The company, in a statement, said the representatives observed the testing of Automotive Gas Oil (diesel) from two petrol stations alongside Dangote Petroleum Refinery and praised the company for its significant investments and contributions to Nigeria’s development.

“The Chairman of the House Committee on Downstream, Ikenga Ugochinyere, and Chairman of the House Committee on Midstream, Okojie Odianosen, oversaw the collection of samples from the Mild Hydro Cracking (MHC) unit of Dangote refinery for testing of all the samples

“Lab tests revealed that Dangote’s diesel had a sulphur content of 87.6 ppm (parts per million), whereas the other two samples showed sulphur levels exceeding 1800 ppm and 2000 ppm, respectively.

“Dangote emphasised that these findings debunked claims made by Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Authority, who recently asserted that imported diesel surpasses domestically refined products. Ahmed had alleged that Dangote refinery and other modular refineries like Waltersmith and Aradel produced diesel with sulphur content ranging from 650 to 1200 ppm—a statement criticised by many Nigerians as a tactic to favour imported products over local ones,” the statement said.

Mr Dangote openly challenged the regulator to compare the quality of refined products from his refinery with those imported, advocating for an impartial assessment to determine what best serves the interests of Nigeria.

On Saturday, the businessman announced plans to halt his investment in Nigeria’s steel industry to avoid being accused of monopoly.

“You know, about doing a new business which we announced, that is, steel. Actually, our board has decided that we shouldn’t do the steel because if we do the steel business, we will be called all sorts of names like monopoly. And then also, imports will be encouraged,” Mr Dangote said.