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Nigeria Signs Pact With Russian Firm For Completion Of Ajaokuta Steel Plant

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From Lateef Taiwo

The Federal Government of Nigeria
has signed a Memorandum of Understanding, MoU, with the original builders of Ajaokuta Steel Plant,
Messrs, Tyazhpromexport, TPE, of Russia and members of their consortium, namely Novostal M and Proforce Manufacturing Limited for rehabilitation, update, and completion of the plant and and National Iron Ore Mining Company, NIOMCO, in Kogi State, Nigeria.

The deal was sealed with the Eurasian country side by the Minister of Steel Development, Prince Shuaibu Abubakar Audu in Moscow, the Russian capital who led a Nigerian delegation there on a working visit from 14th – 21st September, 2024.

Nigeria’s call for this second round of partnership, according to a statement signed and issued Friday by Salamatu Jibaniya, the head, Press and Public Relations unit of the ministry, was accepted by the Russian Federation when the consortium led by Messrs TPE visited the Steel Plant in Ajaokuta and the Iron Ore Mining site at Itakpe in August, 2024 for preliminary inspection leading to the invitation for the signing of the MoU.

Ajaokuta Steel Company Limited, ASCL, popularly known as Ajaokuta Steel Mill, started in 1979 in Ajaokuta in what is now Kogi State now, built on a sprawling 24,000 hectares, 59,000 acres, site is the largest steel mill in Nigeria.
Yet, over 40 years after, the gigantic project envisage to be the bedrock of the country’s industrialisation however has remained uncompleted to date due to neglect by successive administrations.

Prince Audu noted that the move was a step towards creating a sustainable base for the industrialisation of the Nigerian economy, adding that the revival of the steel sector would reduce importation of Steel products into Nigeria which is estimated at over $4 billion, thereby saving save scarce foreign exchange.

During the visit, the Nigerian delegation met with the Deputy Minister of Industry and Trade of the Russian Federation, Mr. Alexey V. Gruzdev and the consortium led by TPE assured the Nigerian delegation of the readiness of the consortium to meet the expectations of the MoU with the Nigerian government.

According to the statement, the Nigerian delegation also inspected the facilities of Messrs. Novostal M located in Balakovo in the Saratov region, as well as the private port facility of the Company where they received different raw materials for their operations.

The Plant which was in full operation during the visit has an Electric Arc Furnace capacity of 1.2Million metric tonnes of Steel products per annum with a staff strength of 3,900 workers.

The President of Metallurgical Holding, “Novostal – M” Demchenko Ivan Ivanovich assured the delegation of their readiness to submit a detailed proposal for the project after the comprehensive audit of the Plant.

The General Director of Messrs TPE, Mr Egorov Sergei Anatolevich, and the Group Managing Director of Proforce Manufacturing Limited, Mr Adetokunbo Ogundeyin, assured the Nigerian delegation of their commitment to the project because of its critical role in the overall economic development of Nigeria and requested for the provision of an enabling environment by the Nigerian government.

The parties expressed their optimism that the full implementation of the MoU will facilitate the revival of both Ajaokuta Steel Company Limited, ASCL, and NIOMCO and could create over 500,000 direct and indirect jobs for Nigerians and increase the size of the economy by billions of dollars thus contributing immensely to President Tinubu’s desire to grow the economy to over $1trillion by 2030.

The Minister was accompanied on the trip by the Permanent Secretary of the Ministry, Dr Chris Osa Isokpunwu, the Sole Administrator of Ajaokuta Steel Company Limited, Engr Sumaila Abdul-Akaba, the Acting Sole Administrator of National Iron Ore Mining Company, Itakpe, Engr Loto Festus Isinmidun, the Acting Director of Steel & Non-Ferrous Metals department of the Ministry, Mr Umar Adamu Tsoho, and his Technical Adviser, Mr Anekwe Patrick Chinwuba.

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Dangote Refinery Boosts Fuel Exports as Gulf Refineries Shut Down

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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.


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US Oil Exports to Nigeria, Others Fall to 3.3m bpd as Local Output Rises

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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.


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NDYPC Hails Otuaro’s Reforms in Presidential Amnesty Programme

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• 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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