Business
Manufacturers Predict Higher Price of Cement

Manufacturers of cement, builders’ most common material have warned that if the Naira is further devalued, the price of cement will be increased further because they need a substantial amount of forex to pay expatriates, buy diesel, fuel, spare parts and mining machinery.
This was disclosed by Alhaji Abdulsamad Rabiu, Chairman of the Cement Company of Northern Nigeria (CCNN), in Abuja, at the 37th Annual General Meeting (AGM) of the company as the board approved the payment of a gross dividend of 10k per share, compared to last year’s 35k per share.
“Times are tough and difficult, and the availability of forex is a big problem. If the Naira devalues further, the cost of anything that is imported will go up, hanging in there to remain in business.
“CCNN will continue with production and make a little bit of money even if it is not much, to keep running. In fact, a competitor has posted N30 billion loss for this year.
“The cost of energy is doubling and the current economic environment is dire. The costs of procuring LPFO, diesel, fuel etc have gone up because of the difficulty in accessing forex.
“The situation is dire, but going forward we pray it gets better. Forex now is for oil production. The price of oil that has come down is also affecting forex and without forex it is not easy to do business. CCNN will continue to do its best; shareholders should be patient as the company is making efforts to access coal which is cheaper.
“The price of cement has not gone up as it should have been. It could have been worse at N2, 000/bag. The price of cement in Nigeria compared to surrounding countries is reasonable.
“LPFO which is the main energy used by the company has not been supplied by the Kaduna refinery since August 2014, hence it has to rely on other sources, mostly importers as supply from other refineries was also epileptic. The company had to, at intermittent periods during the last quarter of 2015, shut down the plant due to scarcity and cost of energy.
“There is quite a lot of talk on providing forex for manufacturers and assisting them with forex involving the CBN. But we are waiting for modalities on the planned initiative to make forex easily accessible to manufacturers, a lot of manufacturers are suffering and it is not an easy situation at all”, he said.
During the year, the company recorded a turnover of N13,037,847,294 compared to N15,119,050,874 in 2014 and a profit after tax of N1,201,108,049 compared to N1,918,361,854 in 2014.
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.”
-
Uncategorized5 years ago
FG, states urged to harness flooding for ranching, others with technology – Agbaje
-
Headlines10 years ago
Breaking: EFCC seals Borno House of Assembly, as Hon members take to their heels
-
News11 years ago
Nigeria Security Operatives Stage Manhunt For Homosexual Perpetrator
-
News9 years ago
How 21-year-old Girl fled community over accusation of lesbianism
-
News10 years ago
Yobe Gov Moves Against Deputy
-
Opinion6 years ago
7 signs she has friend zoned you
-
Technology4 years ago
Online job placement company headhunts women
-
Headlines9 years ago
Borno Dep Gov Abducts Another Church Leader