Dangote Refinery Refutes False Claims on PMS Export and Re-importation The Management of Dangote Petroleum Refinery and Petrochemicals has noted with concern the circulation of unfounded and misleading claims suggesting that its petroleum products are exported to Lomé and subsequently re-imported into Nigeria. The company in a statement stated that, as a matter of…
SEC Orders Halt to Unauthorized Dangote Refinery IPO Promotions The Securities and Exchange Commission (SEC) has directed all capital market operators and digital investment promoters to immediately cease all promotional and solicitation activities relating to a purported public offering of shares by Dangote Petroleum Refinery & Petrochemicals FZE, warning that no such offer has been approved. In a public notice issued on June 23, 2026, the Commission said it had observed the circulation of advertisements, flyers, digital banners and targeted electronic messages across social media and investment platforms inviting members of the public to participate in what was presented as a securities offering by the refinery. The regulator expressed concern over the involvement of some registered capital market operators in soliciting advance subscriptions and expressions of interest for an offering that has not been submitted to or cleared by the Commission. According to the SEC, no application for the registration of an Initial Public Offering (IPO) or any public share offering by Dangote Petroleum Refinery & Petrochemicals FZE has been filed with or approved by the Commission. The SEC warned that the ongoing promotional activities could mislead investors, distort market expectations, create information asymmetry and undermine confidence in the integrity of the Nigerian capital market. It further stated that the distribution of unapproved prospectuses and invitations encouraging investors to create accounts, pre-fund transactions or secure guaranteed share allocations amount to market manipulation and constitute serious violations of the Investments and Securities Act, 2025. Consequently, the Commission ordered all registered capital market operators, particularly stockbrokers and digital platform promoters, to immediately stop publishing, reposting or distributing any materials relating to the acquisition or allocation of shares in the refinery. The regulator also directed operators to remove all unauthorized marketing materials from websites, social media platforms and messaging groups within 24 hours of the notice….
Nigeria Inspects $400m Rare Earth Processing Plant in Nasarawa Nigerian government officials have inspected a $400 million rare earth processing facility being developed in Nasarawa State, as the country intensifies efforts to strengthen local mineral processing and reduce reliance on raw mineral exports. The plant, under construction by indigenous mining firm Hasetins Commodities Limited in Uke, is expected to increase the company’s processing capacity by 12,000 tonnes annually, bringing its total output to 18,000 tonnes per year. A delegation from the Federal Ministry of Solid Minerals Development (MSMD), led by the Director of Mining Inspectorate, Ganiyu Imam, alongside officials from the ministry’s environmental compliance department, visited the site to evaluate the project’s adherence to environmental, safety and regulatory standards. During the inspection, ministry officials said the project had so far demonstrated compliance with key regulatory requirements, particularly in environmental planning and safety management. They, however, urged the company to sustain high standards throughout the construction and operational phases. Representing the Director of Mines Environmental Compliance, Deputy Director Oladehinde Oladusi commended the company’s approach to responsible mineral development. “The commitment that we have seen so far is different from the narrative of some others who simply extract minerals and leave,” Oladusi said. He noted that Hasetins had completed the necessary environmental and social impact assessments and appeared to be adopting technologies designed to minimise environmental risks associated with mineral processing activities. Oladusi also encouraged the company to maintain strong relationships with host communities through effective community development agreements, describing such engagement as critical to preventing future disputes and ensuring sustainable operations. The project aligns with Nigeria’s broader strategy of expanding domestic value addition within the mining sector by promoting local processing and refining rather than the export of raw mineral resources. Rare earth elements and other critical minerals have become increasingly important in global supply chains due to their applications in electric vehicles, renewable energy systems, electronics manufacturing and defence technologies. Speaking during the visit, the Managing Director and Chief Executive Officer of Hasetins Commodities Limited, Prince Jidayi, said the facility would process rare earth minerals alongside other critical metals, including tantalum, tungsten and tin. “For decades the narrative has been of raw extraction and immediate export,” Jidayi said. “This plant will process rare earth metals and other critical minerals in-country.” He added that the company plans to deploy closed-loop processing technologies aimed at reducing environmental impacts and ensuring responsible management of mining waste. Jidayi further disclosed that the company has already established regional and satellite processing centres to integrate artisanal and small-scale miners into a more structured and formal supply chain. According to him, the initiative will provide miners with safety training, equipment support and organised offtake arrangements, helping to improve standards across the sector. The inspection comes as Nigeria ramps up efforts to attract investment into its solid minerals industry as part of a wider strategy to diversify the economy and reduce dependence on oil revenues.
NCDMB, TotalEnergies Launch Human Capacity Development Programme for 34 Cadets The Nigerian Content Development and Monitoring Board (NCDMB), in partnership with TotalEnergies Limited and other industry stakeholders, has flagged off the Nigerian Content Human Capacity Development (NCHCD) Programme for 34 cadets as part of efforts to strengthen local capacity and advance Nigerian Content development in the oil and gas industry. The flag-off ceremony commenced with a safety briefing and the introduction of representatives from NCDMB, TotalEnergies, PIDWAL, STOILIC, the Oil and Gas Trainers Association of Nigeria (OGTAN), and SLC, highlighting the collaborative nature of the initiative. In her opening remarks, Ms. Alexis Emelle described the training programme as a rare opportunity for participants to acquire valuable skills and build successful careers in the oil and gas industry. She also conveyed a goodwill message on behalf of the Executive Secretary of NCDMB, Engr. Felix Ogbe, who stated that the programme represents a strategic investment in the future of Nigerian professionals. According to him, the initiative aligns with the Board’s commitment to developing local capacity, increasing indigenous participation in the industry, and creating sustainable opportunities that support national growth. Ogbe encouraged the cadets to remain disciplined, focused, and committed throughout the programme, noting that the oil and gas industry requires competent professionals, innovators, and problem-solvers capable of handling critical responsibilities. He also commended TotalEnergies Limited for its continued partnership with NCDMB in supporting programmes designed to equip Nigerians with the technical knowledge and expertise required to excel in specialised areas of the industry. The NCHCD Programme is expected to contribute to the development of a skilled workforce, further strengthening Nigerian participation across the oil and gas value chain and supporting the objectives of the Nigerian Oil and Gas Industry Content Development Act.
Dangote Refinery Denies Claims of Fuel Re-importation Via Togo The management of Dangote Petroleum Refinery has dismissed allegations that petroleum products refined at its facility are exported to Lomé, Togo, and subsequently re-imported into Nigeria, describing the claims as unfounded and lacking commercial justification. In a statement issued on Tuesday, the refinery said it was compelled to respond to what it described as a “web of falsehoods” despite its policy of not reacting to baseless and unsubstantiated claims. According to the company, the allegation is inconsistent with both available trade realities and the refinery’s commercial objectives, which are focused on strengthening its position as a leading supplier of petroleum products in the Nigerian market. “Facilitating imports that compete directly with our own production would be inconsistent with this objective,” the refinery stated, adding that its sales contracts and tender terms expressly prohibit the resale or re-importation of its products into Nigeria. Dangote Refinery also argued that the economics of such a trade arrangement do not support the claims. It estimated that transporting petroleum products from its facility to Lomé and back into Nigeria would cost between $82 and $90 per metric tonne, making the transactions commercially unattractive. The company noted that it does not offer export discounts large enough to offset the additional logistics, storage, financing, and handling costs involved in such a process. “Simply put, there is no evident commercial incentive for a producer to incur additional shipping, storage, financing and handling costs only for the product to return and compete in its largest and closest market,” the statement said. The refinery further highlighted its product traceability systems and compliance procedures, stating that it maintains detailed records of all product sales, including lifting locations, nominated vessels, counterparties and destination declarations where applicable. It stressed that suggestions that it knowingly facilitates the re-importation of products into Nigeria are inconsistent with the contractual restrictions imposed on buyers and the refinery’s established compliance controls. Reiterating its long-standing position on energy security, the company said…
Train 7 Hits 90% Completion, Generates 16,000 Jobs as NCDMB, NLNG Advance Local Content The leadership of the Nigerian Content Development and Monitoring Board (NCDMB) and the NLNG Ltd have reaffirmed recommitment to deepen the existing close collaboration between the agencies, towards enhancing in-country value addition from operations of the gas processing and marketing…
NCDMB to Launch Oil and Gas Trainers Certification The Nigerian Content Development and Monitoring Board (NCDMB) is set to commence the issuance of the Nigerian Content Trainers Registration Certificate (NCTRC), as part of its commitment to strengthening local competencies and promoting professional standards within Nigeria’s oil and gas industry. The initiative was unveiled on…
Nigeria Moves to Stabilise Cooking Gas Prices as Stakeholders Roll Out Emergency Supply Measures The Federal Ministry of Petroleum Resources has convened an emergency stakeholders’ meeting aimed at tackling the recent surge in Liquefied Petroleum Gas (LPG) prices and implementing coordinated measures to strengthen supply, improve affordability, and stabilise the market nationwide. The engagement brought together senior government officials, regulators, producers, marketers, terminal operators, and industry groups to assess the drivers of rising LPG costs and agree on practical interventions across the value chain. The Permanent Secretary of the Ministry of Petroleum Resources, Mrs. Patience Oyekunle, described LPG as a vital household energy source and a key pillar of Nigeria’s energy transition. She warned that escalating prices are increasing pressure on household incomes and driving up the cost of essential goods, stressing the need for coordinated action to ensure affordability and access. The Minister of State for Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, said President Bola Ahmed Tinubu is concerned about the impact of rising cooking gas prices and has directed relevant agencies to implement urgent measures to address the situation. He noted that improving supply must be matched with better logistics, infrastructure efficiency, and transparent pricing systems to ensure consumers benefit from interventions in the sector. The Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mallam Rabiu Abdullahi Umar, attributed persistent price pressures partly to high landing costs but expressed confidence that ongoing reforms would ease market conditions in the coming weeks. He added that efforts are underway to boost domestic supply, enhance oversight, and support market stabilisation. In a presentation by the Executive Director of Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr. Ogbugo Ukoha, the NMDPRA highlighted key challenges affecting pricing, including infrastructure gaps, domestic supply constraints, logistics bottlenecks, market distortions, and global supply disruptions. The agency also reported improved supply performance following recent engagements with stakeholders, noting that national LPG sufficiency rose from 11 days to 22 days, while average daily supply increased from 4,262 metric tonnes in May 2026 to 5,040 metric tonnes in June 2026. Participants across the LPG value chain pledged support for government efforts while identifying persistent challenges in storage, transportation, distribution, and market efficiency. Agreed interventions include strengthened market monitoring, stricter enforcement against malpractice, expansion of storage and distribution infrastructure, increased domestic production, improved product tracking systems, better access to market data, and enhanced collaboration among industry players. In his closing remarks, the Minister directed stakeholders to take immediate action to improve supply and remove inefficiencies, stressing that progress would be measured by increased availability, stronger distribution performance, and reduced price pressure across the country.
Nigeria’s Gas Flaring Rises 8% in 2025 as World Bank Flags Top Polluters Nigeria recorded an eight per cent increase in gas flaring volumes in 2025, maintaining its position among the world’s leading gas-flaring nations, according to the World Bank’s latest Global Gas Flaring Tracker Report. The report, released on Tuesday, identified Russia, Iran, Iraq, Venezuela, Mexico, Libya, Algeria, Nigeria and the United States as the countries responsible for 83 per cent of all gas flared globally during the year. Despite accounting for just a fraction of global oil-producing nations, these nine countries dominated global flaring activity, while more than 90 other oil-producing countries contributed only 17 per cent of total flaring despite producing 54 per cent of the world’s crude oil. According to the World Bank, Nigeria’s gas flaring volumes rose by eight per cent in 2025, mirroring an eight per cent increase in crude oil production. However, the country’s flaring intensity remained largely unchanged from the previous year, reflecting persistent challenges in gas capture, utilisation and infrastructure development. The report noted that while countries such as Mexico, Russia, Algeria and Iran recorded increases in flaring intensity, Venezuela and the United States achieved reductions of 11 per cent and 10 per cent, respectively. Iraq, Libya and Nigeria saw little or no change in flaring intensity compared to 2024. “The share of total flaring from the top nine flaring countries – Russia, Iran, Iraq, Venezuela, Mexico, Libya, Algeria, Nigeria, and the United States – represents 83 percent of total flaring in 2025,” the report stated. The World Bank also highlighted that several major oil-producing countries continue to demonstrate that crude oil can be produced with significantly lower levels of gas flaring, underscoring the importance of investments in gas gathering, processing and utilisation infrastructure to curb emissions and reduce waste. The findings come amid renewed efforts by the Nigerian government and industry stakeholders to monetise associated gas resources, reduce routine flaring and improve domestic gas supply for power generation and industrial use.
Energy Security is Economic Sovereignty: IGU Urges West African Market Integration The International Gas Union (IGU) has called for unified regional cooperation, accelerated cross-border infrastructure development, and regulatory harmonization to unlock West Africa’s vast natural gas resources and anchor long-term economic transformation. The charge was delivered by Mr. Akachukwu Nwokedi, the IGU Regional Coordinator for…