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Dangote Refinery To Expands Capacity To 1.4m Barrels Per Day

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Dangote Refinery Sets To End Crude Imports By December

Dangote Refinery To Expands Capacity To 1.4m Barrels Per Day

Dangote refinery to expands capacity To 1.4m barrels per day. The Dangote Petroleum Refinery is set to become the world’s largest oil refining facility, as the Dangote Group on Sunday announced plans to expand its production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd.

President of the Dangote Group, Aliko Dangote, disclosed this during a press conference in Lagos, saying the ambitious expansion underscored renewed confidence in Nigeria’s economic future and aligns with President Bola Tinubu’s vision of making the country a global hub for refined petroleum products.

“We are more than doubling the barrels… to 1.4 million from 650,000,” Dangote told journalists. “This will make it the largest refinery in the world, surpassing India’s Jamnagar Refinery.”

According to him, the expansion reflects belief in Africa’s capacity to define its own energy destiny.
“This expansion is about confidence in Nigeria, in Africa, and in our capacity to shape our own energy future,” he added.

Dangote commended the Federal Government for creating a business-friendly environment through policies such as the Nigeria’s First Policy, Naira-for-Crude Policy, and the One-Stop Shop Initiative, which he said have revolutionised the downstream sector and encouraged private investment in local refining.

He also acknowledged government intervention in resolving recent operational disruptions at the refinery linked to union activities and sabotage attempts, assuring that stability had since been restored.

The industrialist revealed that the ongoing expansion project will generate over 65,000 jobs during the construction phase while opening new opportunities for local manufacturing and supply chains.

Beyond crude refining, the facility will also boost production of polypropylene from 900,000 metric tonnes to 2.4 million metric tonnes per annum, alongside base oils and linear alkylbenzene, a key ingredient in detergent production.

The upgraded refinery will produce Euro VI-standard fuels, meeting top global environmental and emission standards. It will also enhance the plant’s power generation capacity, ensuring full operational self-sufficiency.

“Our goal has never been just to refine oil, but to refine opportunities for our people,” Dangote said.

Addressing concerns about potential fuel scarcity during the year-end festive season, Dangote assured Nigerians of steady petrol supply despite global price volatility.
“For the first time in many years, Nigerians can look forward to a festive season free of fuel anxiety,” he assured.

Dangote Refinery Sets To End Crude Imports By December

Dangote Refinery

The Dangote Refinery, inaugurated in May 2023 by the then President Muhammadu Buhari, began production in January 2024 after receiving an initial supply of six million barrels of crude oil.

Since operations commenced, the refinery has been supplying both local and international markets, significantly boosting domestic availability and cutting Nigeria’s dependence on imported petrol.

At its inauguration, Buhari had described the project as a “game-changer” and a milestone for Nigeria’s economic transformation.

Economy

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

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Lagos Assembly

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.

The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.

Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.

He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.

“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly

Lagos Assembly

“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”

Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.

Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.

He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.

Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.

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Crime

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

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EFCC Probes Man

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,   on Tuesday, February 3, 2026  arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.

Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC Probes Man

EFCC

Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.

The suspect will be charged to court upon conclusion of investigations.

Dele Oyewale
Head,  Media & Publicity
February 3, 2026

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Economy

Access Bank Gets New Board Chair Ifeyinwa Osime

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National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.

Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.

Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.

Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.

She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.

“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”

Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.

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