ECOWAS Unveils Business Council, Appoints Dangote as First Chairman ECOWAS has launched the ECOWAS Business Council to strengthen private-sector participation and boost regional investment, naming Nigerian billionaire Aliko Dangote as its pioneer chairman. The announcement was made during the opening of the 95th ECOWAS Council of Ministers meeting in Abuja. ECOWAS Commission President Dr. Omar Alieu Touray said the initiative aims to reduce dependence on foreign capital by promoting intra-regional investment and fostering collaboration between governments, private-sector leaders, and ECOWAS institutions. Dangote’s selection is based on his vast investment footprint across West Africa and his leadership of one of the region’s biggest conglomerates. The Council is expected to drive economic integration, sustainable development, and capital mobilisation across member states. #ECOWAS #Dangote #RegionalInvestment

Twenty-One Economic Miracles Currently Happening Under President Tinubu One: Our foreign reserves have crossed the $45 billion mark for the first time in six years. It is now the fourth-highest on the African continent. Two: The prudent management of our foreign reserves under President Tinubu has led to a 3.93% GDP growth in the immediate past quarter and 4.23% growth in the quarter before that (Q2, 2025). Three: Nigeria, under President Tinubu, has, within two years, moved from being Africa's biggest petrol importer to becoming West Africa's largest exporter of the same product. Four: For the first time in over a decade, Nigeria has overshot its OPEC quota for three consecutive months and is set to do the same for the fourth month, producing an average of 1.71 million barrels per day. Five: President Tinubu gave Nigerian airlines direct flights to London's Gatwick Airport, United Kingdom, London's Heathrow Airport, United Kingdom, São Paulo, Brazil, Bogotá, Colombia, Entebbe, Uganda, Dar es Salaam, Tanzania, Algiers, Algeria, and St. Kitts and Nevis in the Caribbean. Six: Oil theft has been reduced to less than 10,000 barrels per day, a sixteen-year low. Seven: Nigeria achieved its revenue target for the entire year in August, a first in our history. Eight: The Nigerian Stock Exchange rose above 130,000 All Share Index for the first time ever. Nine: Our economy expanded by $67 billion in just two years, moving Nigeria's GDP from a ₦269.29 trillion economy on May 29, 2023, when Asiwaju became President, to ₦372.8 trillion today. Ten: Between January and August 2025, non-oil tax revenue was ₦20.59 trillion, a 40.5% increase from the ₦14.6 trillion recorded in the corresponding period in 2024. Eleven: MTN Nigeria Limited hit a record valuation of ₦10 trillion, the first Nigerian company to do so. Twelve: Food prices have fallen significantly, resulting in a drop in inflation to 16.05% at present, down from 20.12% in August 2025, a 1.76% decline from July's 21.88%. Thirteen: Dangote and other retailers have crashed fuel prices below ₦1000. Fourteen: The Naira has stabilised and is now below ₦1500 to $, making it among the world's best-performing currencies, according to Fitch Ratings. Fifteen: Nigeria broke its power generation record with a peak generation of 5,801.84MW and maximum daily energyoutput of 128,370.75 megawatt-hours (MWh), the highest ever attained in the history of the electricity industry in Nigeria. Sixteen: After a record trade surplus last year, Nigeria appears set to beat its 2024 figure. Our trade surplus rose 44.3% in Q2 to ₦7.46 trillion, up from ₦5.17 trillion in Q1. Seventeen: In a sign of an improving economy, the Central Bank of Nigeria reduced interest rates by 50 basis points to 27%, the first time since the #COVID19 pandemic. Eighteen: Fitch and S&P Global Ratings upgraded Nigeria's economy to a Stable B. Nineteen: Two PhDs in economics, in the persons of Dr Ngozi Okonjo-Iweala, the Director-General of the World Trade Organisation, and the former Governor of the Central Bank of Nigeria, and incumbent Governor of Anambra, Dr Chukwuma Soludo, both confirmed that President Tinubu has "stabilised the economy". Twenty: Rail transport expanded in Nigeria by 43.08% in Q2 2025. Twenty-one: Road transport expanded by 24.50% in Q2 2025, driven by the ₦13 trillion 1,068-kilometre Illela-Sokoto-Badagry Superhighway, and the ₦15 trillion 750-kilometre Lagos-Calabar Coastal Highway, currently under construction. Bonus: Student loans were awarded to an unprecedented 500,000 students, with hundreds of thousands more awaiting their loans. Effective rebranding projects a positive image of what is happening. It is the best way to neutralise enemies of the nation who want to overwhelm the airwaves with negative information. If you are a patriot who loves Nigeria and wants your country to progress, please spread this truthful message. Reno Omokri

Today, we officially launched the TY Logistics Park FZE in Alaro City, a project that will shape the future of logistics in Lagos and strengthen our position as Nigeria’s leading industrial hub. I commend General T.Y. Danjuma (Rtd.) and Senator Daisy Danjuma for their vision. Through TY Holdings, they continue to show what responsible investment and confidence in Lagos truly look like. This park sits in the middle of a rapidly expanding economic corridor, the Lekki Deep Sea Port, Dangote Refinery, new manufacturing zones, and the coming Lekki–Epe International Airport. A grade-A logistics facility here will cut costs for businesses, support exporters, and create real opportunities for our people. We also appreciate the Federal Government’s commitment to the 7th Axial Road, which will strengthen the entire supply chain from the port to land. This project aligns with our THEMES+ agenda to build modern infrastructure, improve mobility, and make Lagos an easier place to invest and operate. Alaro City is fast becoming a preferred industrial destination, and we will keep creating the environment where investors know that today is always the next best day to invest in Lagos.

Dangote Vows to Keep Petrol Prices Low After Meeting Tinubu, Intensifies Pressure on Importers Aliko Dangote has assured Nigerians that petrol from the Dangote Refinery will continue to sell at “reasonable” and competitive prices, a move expected to heighten pressure on fuel importers. Speaking after a meeting with President Bola Tinubu, Dangote said the refinery aims to stabilise domestic supply despite global volatility and persistent smuggling driven by price gaps with neighbouring countries. He emphasized that the $20bn refinery is a long-term investment, not one focused on quick profit recovery. The refinery, which began supplying diesel and jet fuel in early 2024 and petrol in September, is driving down pump prices nationwide, with NNPC recently reducing rates at its stations. Dangote highlighted that his engagement with Tinubu focused on energy security and economic stability, noting that collaboration between government and private operators is crucial as Nigeria adjusts to post-subsidy pricing realities.

Aliko Dangote criticises rich Nigerians who buy private jets and luxury cars instead of investing in businesses that create jobs, saying he often struggles to find space for his own jet at the airport due to the surge in private jet ownership

BREAKING: Aliko Dangote, on Friday said Nigerians will no longer experience fuel queues during the Christmas and New Year seasons.

Dangote Surge Forces Petrol Prices Down as Depots, NNPC Slash Rates Nationwide Nigerians are beginning to feel relief as private depots and NNPC retail stations slash petrol prices following a major increase in supply triggered by the Dangote Refinery. After Dangote announced it is now producing 50 million litres of petrol daily, depot owners across Lagos, Port Harcourt, Warri and Calabar reduced ex-depot prices to stay competitive, with rates now ranging between ₦835 and ₦853 per litre depending on location. NNPC stations also cut pump prices to ₦905 in Lagos and ₦930 in Abuja, with major marketers like MRS and Ardova selling below ₦900. With strong supply from Dangote and incoming oil cargoes, more price reductions may follow. Diesel prices are also falling, driven by increased supply and lower demand.

“Nigeria is like a scratch card; you only see its true value after scratching it. Some of us who have scratched it are already seeing results,” — Dangote says as he applauds President Tinubu’s policies Africa’s richest man, Aliko Dangote, has praised the Federal Government for what he described as decisive and transformative economic policies, including the new exchange rate framework and the removal of fuel subsidy. Speaking on Tuesday, Dangote expressed optimism about Nigeria’s future, noting that the country’s potential becomes clearer when one looks beyond the surface. According to him, “Nigeria is like a scratch card; you only see the good of it when you scratch the card. Some of us who have scratched the card are seeing the results.” He commended President Bola Ahmed Tinubu for his leadership, stating that “we must thank Mr President for his leadership and policies.” Dangote added that there is no place like home and applauded the governor’s efforts, saying the administration has introduced “very good policies, bold policies that the government have taken today.” He, however, offered a piece of advice to the business community: “One advice that I have is that most of our entrepreneurs should please invest at home.” The industrialist emphasised that sustained local investment is key to unlocking Nigeria’s long-term economic gains.

Nigeria’s Fuel Demand Hits 56.7 Million Litres Daily, Dangote Refinery Leads Local Supply Nigeria’s daily fuel consumption surged to 56.74 million litres in October 2025, the highest in a year, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). Of this, 27.6 million litres were imported, while local refineries, led by Dangote Refinery, supplied 17.08 million litres. The data highlights Nigeria’s continued reliance on petroleum products, with diesel, aviation fuel, and LPG also showing significant daily usage. NMDPRA noted that verified consumption data is crucial for energy sector transformation, import reduction, and economic stability. emand #PMSConsumption #DangoteRefinery

Oshiomhole said the present and the former generals are involve in b@nd!try in Nigeria. Dangote said we can make Nigeria a paradise in 5 years if we decide to.”

Hackers Breach Mobile Phones of Billionaires Dangote and Otedola Hackers have gained unauthorized access to the mobile phones of Aliko Dangote, CEO of the Dangote Group, and Femi Otedola, chairman of First HoldCo Plc, according to TheCable. Sources close to both businessmen revealed that their devices were compromised within the past week.

NNPCL targets 20 per cent ownership stake in Dangote Refinery. The Nigerian National Petroleum Company Limited (NNPCL) said it plans to increase its ownership stake in Dangote Refinery to 20 per cent from 7.2 per cent. NNPCL Group Chief Executive Officer, Bayo Ojulari, disclosed this in his remarks at the Abu Dhabi International Petroleum Exhibition and Conference 2025. According to him, the move is part of the state-owned firm’s strategy to deepen participation in the country’s energy value chain. “The company is working towards increasing its stake in Nigeria’s Dangote Refinery to 20 per cent,” Ojulari was quoted by Reuters as saying. This comes as the President of Dangote Refinery, Aliko Dangote, recently said the NNPCL could expand its stake. He, however, noted that this would only happen after Dangote Refinery had proven to NNPCL what the plant can do. NNPCL retail outlets in Abuja also reduced their petrol pump price to N945 per litre from N955 as supply glitches at the Dangote Refinery eased.

BUA Refinery: Nigeria’s Next Big Move to End Fuel Import Dependence Nigeria is set for another major breakthrough in its energy sector as BUA Group pushes forward with the construction of its new 200,000 barrels-per-day refinery in Akwa Ibom State. Led by billionaire industrialist Abdul Samad Rabiu, the project aims to strengthen Nigeria’s ability to refine its own crude oil locally — a crucial step toward ending decades of fuel import dependence. 🌍 A Game Changer for Nigeria’s Economy For years, Nigeria has exported crude oil only to import refined fuels at high costs. With the new BUA refinery coming onstream, this cycle is expected to change dramatically. The refinery will produce: • Petrol (PMS) • Diesel (AGO) • Aviation fuel (Jet A1) • LPG (cooking gas) • Petrochemicals This means more jobs, cheaper domestic fuel, and extra revenue for the nation through exports. 🏗️ Why This Refinery Matters ✔ Supports fuel supply stability ✔ Reduces foreign exchange pressure ✔ Expands Nigeria’s refining capacity ✔ Encourages competition with other refineries — especially Dangote Refinery ✔ Boosts development in the Niger Delta region The refinery is already attracting international partners in engineering, technology, and infrastructure. 🚀 Driving Local Content & Industrial Growth BUA Group is one of Nigeria’s fastest-growing conglomerates — with investments in: • Cement • Foods & sugar • Port operations • Real estate • Energy & power The refinery project expands BUA’s footprint into the petroleum value chain, helping to keep more wealth within Nigeria. 🔮 Looking Ahead Once completed, the BUA refinery will become one of West Africa’s largest privately-owned refineries, adding healthy competition to the market and supporting Nigeria’s long-awaited shift toward full downstream independence. “Nigeria should not be importing fuel when we have crude oil.” — Abdul Samad Rabiu The journey continues — and the results could reshape the nation’s economic future. 🇳🇬✨

NNPCL Reduces Petrol Price by N10 as Supply Reportedly Improves. The Nigerian National Petroleum Company Limited (NNPCL) has reduced the pump price of petrol as fuel supply from the Dangote Refinery stabilises. On Saturday, NNPCL adjusted the retail price at its outlets from N955 to N945 per litre, reflecting a N10 reduction. The revised price has already taken effect at stations in areas such as Gwarimpa and Wuse Zone 4 in Abuja. Other petrol marketers have also followed suit, with stations like Eterna adjusting their pump price to N945 per litre. The price drop comes after weeks of nationwide increase caused by supply challenges at the Dangote Refinery. Improved distribution from the refinery & product importers has now eased the pressure on fuel supply. However, there are concerns that prices could climb again, following President Bola Ahmed Tinubu’s recent approval of a 15% import tax on petrol & diesel, a move analysts say may impact pump prices in the coming weeks.

[10/31, 8:07 PM] null: Presidency Defends 15% Fuel Import Tariff. The Presidency has confirmed President Bola Tinubu’s approval of a 15% import duty on petrol and diesel, saying the move is intended to boost local refining and reduce Nigeria’s reliance on imported fuel. The announcement was made by the Special Adviser to the President on Media and Public Communications, Sunday Dare, in a statement posted on X on Friday. He described the policy as “a bridge, not a burden,” aimed at reshaping Nigeria’s energy sector for long-term stability. Dare said the tariff is meant to discourage fuel importation, encourage investment in domestic refining, and help Nigeria take control of its energy supply after years of depending on foreign refineries. He noted that despite being a major crude oil producer, Nigeria has spent years importing refined products, which drained foreign exchange and cost the nation jobs. According to him, the new policy gives a competitive edge to local refineries such as Dangote Refinery, the Port Harcourt Refinery, and modular refineries currently being developed. “By making imported fuel less competitive, the government is tilting the market in favour of local refineries, laying the groundwork for a self-sustaining and resilient energy sector,” he stated. Dare added that as local refining output increases, fuel availability will improve and pump prices are expected to stabilize, while job creation and industrial activity expand. However, petroleum marketers have warned that the policy could push petrol prices above ₦1,000 per litre in the short term. Government officials argue that temporary price pressure is necessary to secure long-term gains. The 15% tariff will take effect after a 30-day transition period, ending November 21, 2025.

Fuel prices will eventually moderate – Tinubu Spokesperson on 15% petrol import duty. Spokesperson to President Bola Tinubu, Sunday Dare, has claimed the president’s approval of a 15 per cent import duty on petrol and diesel is a bridge and not a burden on Nigerians. Dare made the assertions in a statement on his X account on Friday, while reacting to Tinubu’s approval of a 15 per cent import duty on petrol and diesel. Recall that there has been diverse reactions from Nigerians, stakeholders and economists alike over the new tariffs and their possible impact on the price of fuel and diesel. In a clarification, Dare said the policy is designed to reverse the fuel and diesel import dependency trend by encouraging local refining, boosting domestic capacity, and ensuring that Nigeria’s oil wealth translates directly into national prosperity. He noted that the tariff will mark imported fuel as less competitive and encourage local refineries such as Dangote Refinery. He said as local refining ramps up and supply strengthens, prices of petrol are expected to moderate while jobs, investment, and industrial activity expands. “It’s no longer news that President Bola Ahmed Tinubu has approved a 15 per cent import duty on petrol and diesel—a bold and strategic move aimed at reshaping Nigeria’s energy landscape. “For years, the nation has depended heavily on imported fuel despite being a leading crude oil producer, draining foreign exchange and exporting jobs that should have been created at home

Fuel price increase looms as tinubu approves 15% import tariff on petrol,diesel. Fuel prices in Nigeria are expected to increase as President Bola Tinubu has approved a 15% import tariff on petrol and diesel, to take effect immediately. According to a government document obtained by THISDAY, the decision aims to protect local refineries, stabilise prices, and strengthen energy security under the administration’s Renewed Hope Agenda. While the tariff could push pump prices up by about ₦150 per litre, the report stated that the real impact may not exceed ₦100 per litre. The directive, copied to the Attorney General, FIRS Chairman, and NMDPRA Chief Executive, introduces a 15% ad-valorem duty on the Cost, Insurance, and Freight (CIF) value of imported fuels. Payments will be made into a designated federal government account, verified by the NMDPRA before any fuel is discharged. The policy is intended to prevent cheap imports from undercutting local refiners like the Dangote Refinery, and to ensure fair competition in the downstream market. Though the proposal suggested a 30-day transition period, the President reportedly ordered immediate implementation. Officials insist the move is not revenue-driven, but designed to align import costs with domestic realities while keeping prices lower than those in neighbouring countries. However, industry stakeholders have raised concerns, warning that the tariff could further strain consumers, as Nigeria still imports over 60% of its refined petroleum products.

“If I have dollars today, I’d rather sell them than hold till next month.” 💵📉 — Aliko Dangote advises Nigerians against hoarding foreign currency.

BREAKING NEWS: Africa’s richest man, Aliko Dangote, is preparing to launch a $1 billion investment project in Zimbabwe. The project, which will include cement manufacturing, coal mining, and power generation

President/Chief Executive, Dangote Petroleum Refinery, Aliko Dangote, has announced the expansion of the refinery’s daily production capacity from 650,000 per barrels to 1.4million bpd. Briefing newsmen in Lagos on Sunday, Dangote said the feat makes the refinery the world’s largest.