Economy
NMDPRA: Dangote Refinery Petrol Supply Fell Below Projection, Provided 23.52m Litres Daily In November
NMDPRA: Dangote Refinery Petrol Supply Fell Below Projection, Provided 23.52m Litres Daily In November
NMDPRA: Dangote refinery petrol supply fell below projection, provided 23.52m litres daily in November. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says Dangote refinery’s petrol supply fell below projection in November.
NMDPRA announced the development in its November 2025 ‘State of the Midstream and Downstream Fact Sheet’.
The oil regulator said despite a planned output of 35 million litres of petrol per day, Dangote refinery’s actual domestic evaluation performance was 23.52 million litres per day.
Also, the report showed that Nigeria’s daily petrol consumption dropped to an average of 52.9 million litres in November 2025, down from 56.7 million litres in October 2025.
Despite this drop in consumption, NMDPRA said petrol supply rose to 71 million litres per day in November 2025, compared with 46 million litres per day in October.
Of the total supply in November, the authority said 52.1 million litres were imported, while local refineries contributed 19.5 million litres.
Explaining the sharp increase in petrol supply, the NMDPRA said it was driven by low supply levels recorded in September and October 2025, which fell below national demand thresholds, as well as the need to boost national stock levels ahead of end-of-year festivities.
The authority also cited “imports by the NNPC, the supplier of last resort, in November 2025, to build inventory and further guarantee supply during the peak demand period”.
“Twelve (12) vessels programmed to discharge into October but spilled into November 2025,” the report reads. NMDPRA added that domestic supply volumes are based on “disport/discharged figures + refinery truck-outs”.
The authority said in November, Nigerians consumed an average of 15.4 million litres of diesel and 2.5 million litres of aviation fuel.
Furthermore, the regulator said Port Harcourt refinery continues to supply 349,000 litres per day of diesel despite being shut down.
On May 24, the Nigerian National Petroleum Company (NNPC) Limited said the Port Harcourt Refining Company (PHRC) will shut down for maintenance. According to NMDPRA, no production activities have occurred since the refinery remained on shut down mode.
“However, evacuation of AGO produced while the refinery was operational before 24th May 2025 continued at an average of 0.349 million litres/day,” the authority said.

NMDPRA
According to the report, Warri and Kaduna refineries remain shut down.
In the report, the authority also said Waltersmith refinery’s 5,000 barrel per stream day (bpsd) second train is currently undergoing commissioning.
On modular refineries, the authority said the Waltersmith refinery recorded an average capacity utilisation of 63.32 percent, with an average diesel output of 133,000 litres per day. Edo refinery, according to the report, operated at an average capacity utilisation of 91.40 percent, producing about 60,000 litres of diesel daily.
Aradel refinery recorded an average capacity utilisation of 62.30 percent, with an average diesel supply of 296,000 litres per day.
However, the NMDPRA noted that OPAC and Duport refineries were not producing during the period under review.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
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
“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.
Crime
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
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
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
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
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.

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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