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Dangote refinery: when it rains it pours.

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Dangote refinery: when it rains it pours.

By Tahir Ibrahim Tahir Talban Bauchi.

When it rains it pours is the best phrase to describe what is happening to the Dangote refinery, as it grapples with one challenge after the other, especially as it prepares for the take-off of the PMS component of its refining processes.

Dangote refinery is the largest investment by a Nigerian in Nigeria in perhaps our entire history.
The investment is valued at $20 billion.

The land purchase alone cost $100 million, with another $420 million spent on revamping and reconstruction of the swamp to make it viable for the construction of the refinery. That is close to a trillion naira in land preparation and pre-construction expenditure.

A port had to be built to accommodate the size of the refinery’s equipment and parts, including building a power plant with the capacity of supplying 1500 MW of electricity. Also, a highway had to be constructed for the delivery of equipments from the port to the refinery, along with the development of 125 kms of pipeline for the delivery of crude oil to the refinery.

The conceptualisation of the project was done over 15 years ago, with its construction taking atleast 7 to 8 years. Industry experts worldwide had warned Alh. Aliko Dangote that it was a crazy project, he admits. He did see the crazy it was when he started, as the challenges ballooned in number and size. Indeed he was ‘crazier’ enough to accomplish its development.

The real crazy now are the impediments and bottlenecks he is facing, as he battles to actualize the aspiration of solving Nigeria’s perennial problem of importing petroleum products, as an oil producing country.

At first it was the International Oil Companies, IOCs, refusing to sell crude to the Dangote refinery, or selling at about $6 more than global prices.

The NUPRC, Nigeria Upstream Petroleum Regulatory Commission had to wade in to secure oil supply for the refinery. Then oil dealers were at it, charging as high as $4 as agency fees, again, against global practices.
The government had to step up against the IOCs and it seemed that it was a resolved issue. Then came a fire incident in the refinery which has caused atleast a month’s delay in the production of PMS, known as petrol, which is what the Nigerian populace is earnestly yearning for, from the refinery.

The entry of Dangote refinery into the diesel market has caused for a reduction of diesel prices by about 60%. This has definitely upset the diesel importation industry and has bloated the number of individuals and cabals coming against the Dangote refinery. Despite all these challenges, the refinery seemed to be on course to deliver petrol to the Nigerian market. But the ‘crazy’ in the industry has probably just set in again, and said, not so fast Dangote!

Very scathing remarks, uncharacteristic of an umpire, were made by the CEO of the Nigeria Midstream and Downstream Petroleum Regulatory Agency, NMDPRA, Engr. Farouk Ahmed, which cast aspersions on the standards, productivity and even the viability of the Dangote refinery.
He castigated the Sulphur content of the diesel from Dangote refinery, putting it at between 650-1200 ppm.

A visit by the Speaker of the House of Representatives on a fact finding mission confirmed that it was at 87.6 ppm. Dangote clarified that they were on their way to declaring a content of 10 ppm. Further testing from other filling stations proved that Dangote refinery’s diesel was far more superior in sulphur content.

There’s also the other parameter of the flashpoint, with Dangote’s diesel recording 90° celsius, compared to other marketers whose product recorded between 40° to 70° celsius. The recommended standard is 66° celsius, further proving that Dangote’s diesel was the best in the market. The Dangote lab for the testing was accredited by the same NMDPRA in March, 2024. NMDPRA knows that as a new refinery, the earliest stages of production would definitely have a high sulphur content compared to subsequent or continued production.

The CEO of NMDPRA also said that the refinery was at 45% completion. As a regulator, he is well aware of the stages involved in the completion of the refinery, where all the products it is designed to produce, can be actually processed and produced by the refinery. For now, two major products are set to be available to the Nigerian market, with one already in use. It is supposed to be in stages. So what was the statement meant to achieve? He also called the refinery a monopoly, while infact, several other modular refineries have been licensed, with quite a number in production.

He lamented that Dangote wanted fuel imports stopped. But isn’t that the desire of every Nigerian? Well of course minus those that make a kill, importing petroleum products, killing our local refineries. NNPC Ltd. says atleast one of their refineries would be producing petroleum products by September this year. In a market where there are multiple producers, how does Dangote refinery amount to a monopoly?

He also complained that Dangote’s refinery is a threat to the energy security of the country. Under the importation regime, we have suffered 3 fuel scarcities in the last 6 months alone. So where is the security in importation? Are we not better off with a steady supply from Dangote? Afterall the refinery is building a storage capacity to have almost a billion litres of petrol in storage.

The CEO’s remarks are in bad light and look like an attempt to demarket the Dangote refinery. Unfortunately it has backfired and has pitched the Nigerian people to stand solidly behind Dangote. It is rare for the people to rally behind a super rich man like Aliko, but what the refinery stands for, is much larger than Aliko Dangote. It stands for the industrialisation of Africa. It stands to change our fortunes, in terms of the hardship and exploitation that we have suffered, over a product in our backyard, that has refused to be available in our front yard. Those comments paint the CEO of NMDPRA as one against the success story of the refinery, and the solutions it stands to bring to one of our biggest problems. The gains are too numerous to mention. From fx gains, to employment, to ending scarcities and black marketing.. there are far too many merits to this project, than the cries of monopoly and what have you. We’d rather be monopolised by our own citizen, than continue to be the dumping ground of oil dealers around the world, that have made our country their cash cow, milking us as they please.

It looks like Dangote’s fuel will be cheaper, just like his diesel, and some dealers don’t want that to happen. With those statements by the umpire, investors are being pushed away.

Steel investments by the Dangote group have now been abandoned due to those unsavory statements. What does it tell other investors around the world about us?

Tahir is Talban Bauchi.

Dangote refinery: when it rains it pours.

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Dadong: A Balanced Voice From Ungwan Rukuba

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Dadong: A Balanced Voice From Ungwan Rukuba

By: Balami Lazarus

What does it take to be a public mouthpiece? That was the question I asked Comrade Dadong Solomon Antibas. My chats with him were a balanced interface. The answers can be found in the write-up for your review.

Democracy like ours has brought to the limelight public mouthpiece voices; some are weak and political, while others are strong, progressive, constructive, and fearless, demanding progress, growth, and development as dividends of good governance in a peaceful atmosphere.

Governments created by democratic processes are never left alone without citizens asking questions and demanding dividends of democracy for their community and the country at large.

Comrade Dadong Solomon Antibas is a Nigerian, law-abiding citizen. Antibas, a security expert and popular public mouthpiece on the Jos Plateau, has earned the confidence of the people of his community, Ungwan Rukuba, and most parts of the state over the years. For his community, he is their immediate mouthpiece who has been speaking on their plights, calling the attention of the government under the leadership of Governor Caleb Manasseh Mutfwang to do the needful.

Personality like Solomon Antibas’ public impression of him by some citizens of the state is all about seeking relevance and political appointments. “I have no interest whatsoever in any political appointment. My sincere concern for my dear country and my state, Plateau, is peace, progress, growth, and development for future generations.”

Nigerians should begin to speak out on good governance at all levels. Citizens are also responsible for failing to hold them accountable and demand good governance in terms of security, social amenities, and infrastructure.

Ungwan Rukuba is one of the wards in the Jos North Local Government Area. It is an integral part of the city center. Unfortunately, the peaceful Ungwan Rukuba became a flashpoint. The terrorist attack of March 29th, 2026, has put a scar of insecurity on the area.

On insecurity, he said that Mr. President Ahmed Bola Tinubu has failed Nigerians woefully. “Insecurity is a bone of contention. The federal government must take decisive measures on the insecurity challenges bedeviling the nation.”

My findings on Comrade Dadong Antibas revealed that he is not a public affairs commentator or an analyst but a progressive and active public mouthpiece, a voice of the voiceless.

For some, Dadong is attacking the government under the leadership of Governor Mutfwang. ” Is speaking the minds of citizens on bad governance and holding the government of Governor Caleb Manasseh Mutfwang a crime”?

Despite threats on Solomon Dadong, they have not deterred him from speaking for and on behalf of other citizens living in the state. “I have no other way to hold the government accountable than to publicly speak and constructively criticize the leadership’s voicing out feelings and lots of the people…In democracy, governments are made by the people, and as such, they must provide for the collective needs of the masses who voted them in.”

Comrade Antibas is one among the few indigenous people of Plateau who are outspoken and speak with passion and a patriotic mind for his state and Nigeria. “I will live and die in Nigeria speaking, advocating, demanding, and/or holding both federal and state governments accountable for good governance.”

Balami, Publisher/Columnist, 08036779290

Dadong: A Balanced Voice From Ungwan Rukuba

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Facts for Understanding Capital Market Investment

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Facts for Understanding Capital Market Investment

By: Balami Lazarus

I grew up in an academic environment where the language is the same: study well, have good grades and be what you desire to be in the future through academic discipline and training.

Many of my contemporaries and I were not spoken to in the language of trade and commerce. But here are some of us as businessmen, entrepreneurs, investors and in other business enterprises far from the academic language we were bred with.

There has never been a market like the capital market the world over where trade per day runs into billions of cash. While market capitalisation is in trillions. The case of the Nigerian Stock Exchange (NSE), now Nigerian Exchange Group, with its trade symbol (NGX) on the floor, is a good example.

Investing in the capital market is profitable for traders and short- and long-term investors. But understanding the market requires some basic facts, which are cash, knowledge, discipline and patience, important for investors to appreciate the market.

Recently a member of my social group came to me to seek my advice on what it takes to invest in the equity market (stock exchange). I was very candid with the fellow, informing him that he needs cash, knowledge, discipline and patience to invest in the capital market after having defined his position as an investor.

First an investor needs cash in his possession set aside to invest in the capital market, the gateway into the market. You can have the other three, but without cash you are not yet an investor.

Lack of knowledge about a business or investments has made so many persons lose money worth millions.

This is typical with good number of Nigerians who attempted to start a business or invest in some going concerns without basic knowledge and understanding of the intricacies of these investments or businesses.

The information and technology age has
made acquiring knowledge very simple; therefore, understanding the stock market is easy these days.

Basically, the capital market depends on and responds to information, government policies, and economic and political happenings/events within and without, which most often determines the graphic movements of the primary market deals on the floor. ‘Bullish’ or ‘bearish’ simply means the plus or minus of the day’s transactions.

The need for monitoring of the market is important for traders and short-term investors. However, with knowledge and careful monitoring of the market, it is a suitable place for short-term gains for investors with multiple numbers of holdings in blue-chip companies like Dangote Cement, Bau Foods, Nestle, Aradel, Okumu Oil Palm, Zenith Bank, Guaranty Trust Bank and others. But for long-term investors, whether the market is bullish or bearish, his investment portfolio is for future use.

Investments like those of the capital market, discipline and being committed are necessary to build a strong, high-quality, profitable portfolio of a large number of holdings of units spread over listed companies of the stock exchange that come with capital appreciation and dividends. This is important, especially for long-term investors.

And the turn key in this type of investment is patience. Generally investments need patience for them to mature for harvest.

In stock market investment, patience plays a vital role in this business. Therefore, for an investor who lacks patience, the capital market is not a tuft for him and shall never be.

To navigate through this market, investors must at all times apply this formula and have it printed on their hearts. Cash = stock units over time + patience = capital apreciation/dividends.

Today there are changes in the exchange which have improved trading. The time of trade has been extended to transactions and payments (T+1). Other electronic applications to aid and encourage investors in the capital market in an attempt to boost the Nigerian economy.

Balami, Publisher/ Columnist 08036779290

Facts for Understanding Capital Market Investment

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The ‘Hyenas’ and The Fear of Radical Changes

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The ‘Hyenas’ and The Fear of Radical Changes

By: Balami Lazarus

Nigeria’s persistent security challenges, governance shortcomings, and societal stagnation were discoursed in a recent controversial work titled “Radical Approach: Ways of Ending the Menace of Insecurity in Nigeria,” which has sparked vehement reactions. These responses, saturated with insults and threats, underscore not only the resistance to transformative ideas but also reveal deeper cultural and psychological barriers inhibiting national progress. 

Hyenas occupy a complex place symbolically and ecologically. Known for their powerful jaws capable of crushing bone and their fearsome appearance, hyenas possess attributes of strength and resilience. Ironically, the very qualities that should have crowned them kings of the jungle remain unrealized due to internal flaws—excessive fear and greed. This metaphor resonates profoundly with the Nigerian socio-political landscape. Many citizens and leaders embody these counterproductive traits, which sabotage collective progress. The ‘hyenas’ here are those resistant individuals who react aggressively to change, fearful of losing entrenched privileges or comfortable mediocrity.

Despite their natural capacities, hyenas do not kill their prey outright but feed until the victim is entirely consumed, a parallel to how corruption, insecurity, and dysfunctional governance gradually erode Nigeria’s potential. Nevertheless, because of this fear and greed, the true power of the hyenas remains dormant. Similarly, Nigerians possess enormous potential—humans and resources alike—but systemic fear of radical transformation prevents the nation from ascending to greatness.

Resistance to radical change is hardly unique to Nigeria; however, the scale and intensity of opposition here are particularly pronounced. The author of the initial work rightly posits that fundamental restructuring or amicable separation (balkanization) may be necessary to ensure peaceful coexistence among Nigeria’s diverse ethnic and regional groups. While this proposition unsettles many, it is grounded in historical precedents where developing nations embraced bold reforms, coupled with decisive policies and enforcement mechanisms, to dismantle corruption and oppression effectively.

For example, South Korea’s transformative journey from a war-ravaged country to a technological powerhouse was marked by radical government-led reforms, strict anti-corruption measures, and an unyielding commitment to national goals. Similarly, post-apartheid South Africa undertook sweeping constitutional and institutional reforms to redress systemic inequalities. These examples suggest that change without fear, and with a clear vision, is achievable. In Nigeria’s case, however, political leaders often prioritize personal gain over national interest, shielding corrupt practices from scrutiny and accountability—a scenario that foreign nationals sometimes benefit from more than average Nigerians.

Hence, it is not just a question of reform but an urgent call for a radical overhaul of the political, economic, and security frameworks—an overhaul that will inevitably provoke discomfort among the ‘hyenas’ who thrive on the status quo. Their hostility reflects a deeper anxiety about losing undue influence rather than genuine concern for national welfare.

Those who dare to voice radical solutions face fierce backlash. The insults, threats, and online harassment directed at the author of “Radical Approach” epitomize the perils confronting reformists. Such antagonism stems from a culture where free expression is often conflated with subversion and where critical voices are silenced through intimidation rather than engaged with constructively. This atmosphere breeds cynicism and self-censorship, retarding public discourse essential for democracy and progress.

The paradox lies in the fact that while politicians and vested interests propagate falsehoods to maintain their grip, genuine advocates of change are vilified. This creates a toxic environment where truth-tellers face social ostracism, leaving the masses bewildered about whom to trust. The condemnation of the author’s suggestion to either restructure or separate the country illustrates how deeply sensitive and contested the issue of national unity is—yet it also reveals the urgency to address unresolved grievances before they escalate into greater conflict.

It is crucial to emphasize that opinions, especially those anchored in personal conviction and aimed at national betterment, deserve respect and consideration, even if controversial. Democratic societies thrive on diverse viewpoints and vigorous debate. The author’s claim to persist as a ‘honey badger’—an animal known for fearless tenacity—symbolizes the courage required to confront entrenched systems and societal fears.

Change is seldom comfortable; it disrupts established norms and compels individuals to rethink identities and power structures. But without this discomfort, stagnation ensues, and nations risk eventual decline or disintegration. In Nigeria’s context, the failure to act decisively invites greater insecurity, economic hardship, and social unrest, ultimately threatening the very fabric of the nation.

To overcome the paralysis induced by fear and entrenched interests, Nigerians must collectively embrace the concept of radical but non-violent reform. The analogy of hyenas vividly encapsulates the paradox of strength hindered by fear and selfishness—a situation familiar to Nigeria today. The vehement backlash against radical proposals for restructuring or separation signals a collective unease but also highlights the necessity for bold action. History teaches us that radical change, enforced with fairness and resolve, is often the catalyst for national rebirth.

Nigeria stands at a crossroads. Will it continue to be prey to internal fears and greed, or will it muster the courage to embrace transformative ideas, no matter how uncomfortable they may seem? Advocates like the author of “Radical Approach” bear the burden and honor of challenging the status quo. Their persistence embodies hope that someday, rationality and justice will prevail over hostility and inertia.

In this pursuit, Nigerians must shed the fearful mindset that binds them and instead harness their inherent strengths—diversity, resilience, and youthful energy—to reclaim their destiny. Only then can the nation finally silence the cacophony of ‘hyenas’ and evolve into a stable, prosperous democracy worthy of its vast potential.

Balami, Publisher/Columnist 08036779290

The ‘Hyenas’ and The Fear of Radical Changes

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