Business
PMB Lauds Dangote, LADOL, Others as Most Strategic Investors

President Muhammadu Buhari has called on investors in the country to emulate the strategic nature of investments made by the African foremost business conglomerate such as the Dangote Group; the Lagos Deep Offshore Logistics base (LADOL), and General Electric (GE), among others, as one of the strategic investments in the country that currently drives the nation’s economy.
Buhari made the statement when he opened proceedings at the recent sixth African Petroleum Congress and Exhibition (CAPE VI) held recently in Abuja by the African Petroleum Producers Association (APPA).
While lauded the efforts of the indigenous organization in building economic growth, the President who was represented at the event by Vice-President Yemi Osinbajo (SAN), identified some of the companies adding the most value to the Nigerian economy through their ingenious investment as Dangote Group, GE, LADOL Shipyard.
Buhari also identified with Samsung Heavy Industries (SHI), which is currently building one of the world’s largest oil platforms at the LADOL base in Tarkwa Bay, Lagos. The LADOL/SHI project commonly referred to as Egina Floating Production Storage and Offloading (FPSO) platform valued at $3.8billion, is said to be first of its kind to be built in the sub-Saharan Africa.
He noted, that African countries should develop ingenious ways of promoting value addition and investments through sustainable policies in local content, adding that a company such as LADOL, which has invested over $600million in private investment, as one of the companies that currently adding the most value to the Nigerian economy through their ingenious investments; the ongoing mega projects like the General Electric service centre for manufacturing rotating equipment in Calabar as well as the Dangote Refinery in Lagos; and the Samsung FPSO integration yard in Lagos, are some of the most strategic investment to an emancipated African economy.
He stressed that the continent must recognise that the development of domestic refining capacity in the oil and gas sector would remain critical to sustainable economic growth.
“A common approach to local content will ensure that the whole of Africa benefits from economies of scale associated with our vast resources.”
Appraising the local content achievements of LADOL, the President urged other investors to emulate the LADOL example, saying African countries should develop ingenious ways of promoting value addition and investments through sustainable policies in local content.
This is coming as the Managing Director of LADOL, Dr. Amy Jadesimi, outlines plans to further attract $5billion investments into the country through the LADOL Industrial Free Zone located in Lagos within the next few years. Dr. Jadesimi gave the indication, while delivering a presentation at the event under the topic: Driving Economic Growth Through Local Private Sector Investments in Nigeria.
She noted that given the spate of growth at the zone, “the success of LADOL has attracted new investors to Nigeria who partner with credible Nigerian investors leading to the creation of dozens of similar facilities”. She noted that in 2010 alone, 130 oil rigs were towed from West Africa past the tip of Africa across the Indian Ocean to the Far East for repair adding that “with LADOL and similar facilities now on ground, more of such ventures would be done in Nigeria.”
The Ladol industrial free zone in Lagos is a wholly indigenous, privately developed and hosting the largest shipyard in West Africa; the 650,000 barrels per day (bpd)
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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