Economy
Our Units Undergoing Routine Maintenance, But Petrol Production Not Interrupted: Dangote Refinery
Our Units Undergoing Routine Maintenance, But Petrol Production Not Interrupted: Dangote Refinery
Our units undergoing routine maintenance, but petrol production not interrupted: Dangote refinery. Dangote refinery says it continues to produce petroleum products through the operation of other critical units despite maintenance on its crude distillation unit (CDU) and residual fluid catalytic cracking (RFCC) units.
On December 3, reports claimed that the refinery shut its petrol unit over maintenance and upgrades.
An official at the refinery had told TheCable that production was still ongoing.
In a statement on Monday, the refinery said routine maintenance on certain units does not interrupt overall production operations.
“Dangote Petroleum Refinery further clarifies that, due to the sophistication and integrated design of its processing units, routine maintenance on specific units, including the Crude Distillation Unit (CDU) and Residual Fluid Catalytic Cracking (RFCC), does not interrupt overall production,” the statement reads.
“The refinery continues to produce Premium Motor Spirit (PMS), Automotive Gas Oil (Diesel), and Jet A-1 through the operation of other critical units, including but not limited to the Naphtha Hydrotreater, CCR Reformer, and Hydrocracker, which remain fully operational.”
The refinery also said it has consistently ensured sufficient petrol supply for the domestic market.
Furthermore, Dangote refinery denied claims it was “shutting down due to maintenance issues”.
“The refinery is not shutting down. Production remains ongoing, stable, and uninterrupted,” the refinery said.
“Dangote Petroleum Refinery continues to operate at scale and retains the capacity to supply between 40 million and 50 million litres of Premium Motor Spirit (PMS) daily through January and February, subject solely to market demand.
“On January 4, the refinery produced 50 million litres of PMS and evacuated 48 million litres via its gantry. Current stock levels cover over 20 days of national consumption, effectively dispelling any concerns about supply.”
From December 16, 2025, to date, the statement noted that the refinery had loaded between 31 million and 48 million litres of petrol daily from its gantry, in line with prevailing market demand.
According to the refinery, the volumes are verifiable against depot loading records maintained by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) as part of its regulatory responsibilities.
The Dangote refinery further said it continues to maintain an ex-gantry price of N699 per litre for petrol, “available to all marketers and bulk consumers without discrimination”.
“Dangote Petroleum Refinery therefore calls on filling station operators, large scale users, and institutional consumers to patronise locally refined, high quality petroleum products, rather than relying on imported alternatives that are often more expensive and of uncertain quality,” the plant said.

Dangote Refinery
“By sourcing PMS locally at N699 per litre, marketers are better positioned to pass on price relief to consumers, enhance market stability, conserve foreign exchange, and support Nigeria’s broader economic recovery and energy security objectives.”
‘FUEL MARKETERS WILL CONTINUE OPERATING WITHOUT RESTRAIN IF NOT FOR DANGOTE REFINERY’
The refinery said recent price movements further highlight that in the absence of the Dangote refinery, fuel importers would continue to operate “without restraint, with petrol prices potentially escalating to levels estimated at up to N1,400 per litre”.
The statement noted that the refinery’s operations have served as a key stabilising force in the downstream petroleum market.
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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