Business
Steel is key to Nigeria’s industrialisation drive: Kwara Gov

- Pitches KAM Holdings for Ajaokuta’s mgt
- Gov hosts Minister of Steel Abubakar Audu
Stephen Olufemi Oni, Ilorin
Kwara State Governor AbdulRahman AbdulRazaq is optimistic that Nigeria’s industrialisation efforts would yield awesome results once the country maximises its steel potential through the proposed reforms by President Bola Ahmed Tinubu.
He said the move by the Federal Government to revive Ajaokuta Steel Company is sacrosanct and key to the industrialisation drive.
The Governor, therefore, urged President Tinubu to consider Kwara’s KAM Holdings Limited to take over the operation of Ajaokuta Steel Production, citing the prominent contributions of the company (KAM) to the sector in Nigeria.
The Governor spoke on Tuesday in Ilorin, the capital city, when he received the delegation of the Federal Ministry of Mines and Steel Development led by the Honourable Minister Prince Audu Shuaib Abubakar who is on a working visit to the state, adding that Kwara is arguably the second largest steel production in Nigeria today through activities of KAM Holdings led by Alhaji Kamoru Yusuf.
“As you know, Ajaokuta is an albatross, and we are very confident that the company will untie the issues there and make the industry come to fruition. When Ajaokuta was established, it was in Kwara state,” he added.
“Once again, you are welcome to Kwara. I hope you have a great time here. And the fact you will see will convince you that KAM Holdings is the right company to take over the Ajaokuta Steel Company. It will benefit our country and our state.”
He commended the Minister for championing the process to revive Ajaokuta, including picking Kwara as their first choice for the fact-finding visit.
“I must commend you for stepping out of your office to get the facts right before you formulate a policy for the development of the steel sector. This is highly commendable because going round will enable you to get firsthand facts in moving this sector forward,” the Governor said.
“Kwara is arguably the second largest steel production in Nigeria today through activities of KAM Holdings led by Alhaji Kamoru Yusuf. We hold him in high esteem. His investment should be in trillions of naira.
“This is an industry which could have been located for economic reasons in the Ogun – Lagos southern axis, but for his patriotism and love for his state it is located in Kwara. So, we commend him for that. And I am making a very strong pitch for KAM Holdings in the future of Ajaokuta Steel Production and projects.”
Prince Audu, for his part, said they were in Kwara to encourage indigenous players in the steel industry, a step he noted aligns with the Renewed Hope Agenda of President Tinubu to scale up industrialisation.
He described Governor AbdulRazaq as a political amazon in Nigeria, and hailed the “unprecedented” achievements of the administration in some key sectors of the economy for the state, adding that the federal government is committed to creating over eighty (80) million jobs for Nigerian citizens in eight years, including through the steel industry.
“Under the renewed hope of President Tinubu GCFR, one of his cardinal objectives is to grow the size of Nigeria’s GDP to over $1 trillion. And part of what we need to do to achieve that is to focus on industrialisation, which has the capacity to create hundreds of thousands and even millions of jobs,” he said.
“So I am here to first of all pay my respect and acknowledge the Executive Governor of Kwara State for doing such a wonderful job across the sub-sector of the economy, whether in primary healthcare, education, infrastructural development, or road network, which are unprecedented in the history of kwara state. This state is very lucky to have a well accomplished Governor who is a leader of men. Kwara is a renowned and trailblazer state, and I am very happy to be here.”
Business
Dangote Refinery Boosts Fuel Exports as Gulf Refineries Shut Down

By: Fabian Apechihin
The Dangote Petroleum Refinery has ramped up fuel exports to international markets amid widespread refinery shutdowns in the Middle East, industry sources confirmed.
A senior official at the $20bn Lagos-based plant told The PUNCH that the facility exported significant volumes of petrol (PMS), diesel (AGO), and aviation fuel (Jet A1) to foreign buyers in August, following earlier shipments in June and July.
The surge comes as Saudi Aramco and other regional producers face heavy maintenance schedules, tightening fuel supply. Aramco has already shut down two plants and plans further closures, including its 460,000 b/d Satorp refinery in Jubail for a 60-day turnaround in November–December. Kuwait and India are also scaling back capacity for maintenance and seasonal demand.
According to Argus Media, these shutdowns are pushing Gulf nations to import record volumes of gasoline, with Saudi Arabia and the UAE sharply increasing purchases from Europe and other markets in recent months.
While some reports pointed to operational constraints at Dangote’s 650,000 b/d facility, the company dismissed such claims, insisting production is on track to reach 700,000 b/d by December. Earlier this year, Aliko Dangote announced the refinery had sold two cargoes of jet fuel to Saudi Aramco and recently achieved exports of about 1 million tonnes of petrol between June and July.
“With Gulf refiners offline, Nigeria has now emerged as a net exporter of refined products,” Dangote said.
Analysts suggest the extended refinery outages in the Middle East will further strengthen demand for Dangote’s output, positioning the Nigerian plant as a key supplier in regional fuel markets.
Would you like me to tighten this further into a 5–6 paragraph wire-style news brief, or keep it as a detailed feature-style report with more context on Gulf refinery shutdowns?
Business
US Oil Exports to Nigeria, Others Fall to 3.3m bpd as Local Output Rises

By: Fabian Apechihin
The United States’ crude oil exports to Nigeria and other African countries fell for the fifth consecutive month in July 2025, averaging 3.3 million barrels per day (bpd), the lowest level since March 2022.
The Organisation of Petroleum Exporting Countries (OPEC) disclosed this in its August 2025 Monthly Oil Market Report (MOMR), attributing the decline to weaker flows to Europe and Africa, particularly Nigeria, but without giving further details.
Industry analysts link the slowdown to the ramp-up of local refining capacity, especially the 650,000 bpd Dangote Refinery, which has reduced Nigeria’s reliance on imported crude, including from the US. Vanguard checks also show that crude importation has slowed further in recent months due to improved domestic production.
According to OPEC data, Nigeria’s crude oil output—excluding condensates—rose by 11 per cent year-on-year to 1.559 million bpd in July 2025, up from 1.386 million bpd in the same period of 2024. This marks the country’s highest monthly production level so far this year.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) corroborated the figures, stating that overall output, including condensates, exceeded 1.8 million bpd in July.
Gbenga Komolafe, Chief Executive of the NUPRC, said the milestone was achieved through the agency’s “Project 1 MMBOPD Incremental” initiative, supported by a multi-stakeholder collaborative framework.
“We are glad to report that we crossed the 1.8 million bpd mark on peak production last month, with average production hovering at 1.78 million bpd,” Komolafe stated.
He added that the Commission is working to sustain production growth by optimising the Maximum Efficient Rate (MER) framework, improving produced water management, and aligning operational shutdowns and maintenance schedules to minimise disruptions.
“With these measures and continued collaboration, the presidential mandate on production increase is well within reach,” he said.
Do you want me to make this rewrite more concise for a newspaper front-page brief or keep it detailed like a full energy market report?
Business
NDYPC Hails Otuaro’s Reforms in Presidential Amnesty Programme

• Lauds transparency, fairness in beneficiary selection and grassroots empowerment
• Says reforms align with Tinubu’s Renewed Hope Agenda, restore trust in Niger Delta
The Niger Delta Youths for Positive Change (NDYPC) has commended the Administrator of the Presidential Amnesty Programme (PAP), Dr. Dennis Otuaro, for what it described as bold, people-focused reforms that are restoring trust and delivering tangible benefits to the Niger Delta.
In a statement signed and issued by Comrade Elliott Yibakeni, after the conclusion of leadership training sessions with ex-agitator leaders in Abuja, the group said the PAP, once in urgent need of renewal, is now undergoing a transformation that reflects transparency, fairness, and accountability.
“At a time when public trust in institutions was waning, Dr. Otuaro has emerged as a symbol of credibility and transformation,” the statement read. “His visionary leadership is restoring integrity, empowering communities, and driving a sustainable development agenda that resonates with the aspirations of the Niger Delta.”
According to NDYPC, under Otuaro’s leadership, beneficiary selection has become fair and merit-based, ending years of favoritism and political interference. The group added that access to education, skills training, and empowerment opportunities, both locally and abroad, is now guided by equity and open competition.
The group highlighted several internal reforms, including improved staff welfare, strengthened professional capacity, and strict adherence to best practices in public procurement. These, it said, have made the PAP more efficient, responsive, and transparent.
NDYPC also praised Otuaro’s inclusive governance style, noting his sustained engagement with traditional rulers, women leaders, civil society organizations, and local communities. This approach, the group said, has strengthened peace-building efforts and deepened trust between the PAP and the people it serves.
In line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, the PAP has maintained consistent payment of stipends to ex-agitators and extended direct support to vulnerable populations. NDYPC also applauded new healthcare interventions for ex-agitators facing health challenges.
The statement further commended the programme’s investments in scholarships, vocational training, and economic empowerment initiatives aimed at preparing Niger Delta youths for leadership, innovation, and sustainable livelihoods.
“Every decision reflects a deep commitment to public trust, responsible stewardship, and long-term development,” NDYPC stated. “Under Dr. Otuaro’s watch, the Niger Delta is rising stronger, united, and filled with renewed hope.”
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