Economy
Dangote Petroleum Refinery Commits To Full Regulatory Compliance, Cooperation With NMDPRA
Dangote Petroleum Refinery Commits To Full Regulatory Compliance, Cooperation With NMDPRA
Dangote Petroleum refinery commits to full regulatory compliance, cooperation with NMDPRA. Dangote Petroleum Refinery has reiterated its commitment to full regulatory compliance and continued cooperation with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
In a public notice on Thursday, the refinery said its supply strategy aligns with ongoing efforts to ensure market stability and an orderly downstream operations.
The organisation said it remains actively engaged with regulators and industry stakeholders to support Nigeria’s energy security goals as the country shifts from fuel import dependence to domestic refining.
The refinery added that it is working closely with market participants to ensure the benefits of local refining — including steady supply, competitive pricing, and stronger market discipline — are consistently delivered to consumers nationwide.
The company’s position comes more than a month after Aliko Dangote, its chairman and founder, accused Farouk Ahmed, the former chief executive officer (CEO) of the NMDPRA, of corruption.
Farouk later resigned following a meeting with President Bola Tinubu.
Further speaking in the statement, the refinery said it has the capacity to supply fuel in volumes significantly more than Nigeria’s estimated domestic consumption.
“The management of Dangote Petroleum Refinery would like to reiterate our capability to supply the underlisted petroleum products of the highest international quality standard to marketers and stakeholders,” the company said.

NMDPRA
The organisation said it can supply 75 million litres of premium motor spirit (PMS) daily, against an estimated national consumption of 50 million litres.
Aside from PMS, also known as petrol, the refinery said it can also supply 25 million litres of diesel per day, exceeding the estimated daily demand of 14 million litres.
“It also has the capacity to supply 20 million litres of aviation fuel daily, far above the estimated maximum domestic consumption of four million litres,” the notice reads.
According to the refinery, maintaining supply volumes above prevailing demand establishes critical buffers that enhance market stability and lessen reliance on imports, especially during periods of high demand or logistical disruptions.
On December 1, 2025, the Dangote refinery invited the NMDPRA to independently verify its daily petrol production capacity, as the plant anticipated supplying Nigeria with 50 million litres per day in December 2025 and January 2026.
However, on January 16, the NMDPRA said the refinery supplied an average of 32 million litres of petrol per day in December 2025, lower than its planned supply of 50 million litres.
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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