Forty-five young Nigerian graduates have started a 12-month Nigerian Content Human Capital Development (NC-HCD) Training Programme for technical competencies identified as critical for value retention and increased indigenous participation across the oil and gas industry value chain.

Organised by the Nigerian Content Development and Monitoring Board (NCDMB), in partnership with Chevron Nigeria Limited and Tombas Resources Nigeria Limited, the programme is geared towards provision of Automated Crude Oil Storage Tanks Upgrade and Repair Services, and is designed to have the trainees adequately grounded in process control technologies, industrial instrumentation and maintenance practices, as well as automation systems, among other competencies.

In a keynote address at the occasion, the Executive Secretary of the NCDMB, Engr. Felix Omatsola Ogbe, represented by the General Manager, HCD, Alexis Emelle, described the programme as a strategic investment in Nigerian talent and a demonstration of the Board’s commitment to building indigenous capacity in line with its mandate.

ALSO READ: NUPRC Dangles 50 Oil, Gas Blocks Before 143 Investors at Bid Conference

He noted that beyond technical skills, the programme would inculcate professionalism, accountability, teamwork, and a strong culture of safety in the trainees, who are expected to maximise the opportunity and emerge as competent professionals capable of contributing to growth and sustainability of Nigeria’s oil and gas industry.

He admonished the trainees to demonstrate commitment, discipline, and a willingness to learn throughout the programme, pointing out that their selection was a reflection of the confidence that the NCDMB, Chevron Nigeria Limited, and Tombas Resources, along with the training partners, have in their potential.

In separate remarks, representatives of Chevron and Tombas congratulated the trainees on their successful selection, while urging them to take their training seriously and be focused and dedicated throughout the duration of the programme.

In an overview of the training scope, a representative of Dexterous Applied Training Institute explained that participants would be exposed to Basic Offshore Safety Induction and Emergency Training (BOSIET), Health Safety and Environment (HSE), Introduction to Electrical and Industrial Instrumentation Maintenance, and Introduction to Oil and Gas Operations, in addition to the aforesaid competencies, for which they would receive globally recognised industry certifications. The NC-HCD training programme constitutes part of NCDMB’s broader human capital development strategy aimed at creating a new generation of highly skilled Nigerians capable of supporting the growth, competitiveness and sustainability of Nigeria’s oil and gas industry

The Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has successfully completed a landmark Private Equity Placement that raised approximately US$2.5 billion in new equity, following a highly successful offering.

The transaction, which is believed to be Africa’s largest publicly disclosed primary equity private placement, marks a significant milestone in the history of the company and demonstrates strong investor confidence in the refinery’s long-term growth strategy and operational excellence. The capital raise is the first equity funding round involving external investors beyond the company’s legacy shareholder base, underscoring the growing attractiveness of DPRP as a world-class energy and industrial enterprise.

ALSO READ: Brent Exceeds $100/barrel as Tensions Mount in Middle East

The proceeds from the placement will be deployed to support the continued expansion of the refinery and petrochemical complex, strengthen the company’s capital structure, and enhance financial flexibility to pursue future growth opportunities.

The offering attracted broad participation from international and African institutional investors, sovereign-related investment vehicles, development finance institutions, strategic partners, and individual investors. Notable participants included the Africa Finance Corporation (AFC) and India Infra Buildco, an investment vehicle facilitated by the African Export-Import Bank (Afreximbank), reflecting deep and diversified confidence in DPRP’s long-term prospects.

Commenting on the successful transaction, Aliko Dangote, President and Chief Executive of Dangote Industries Limited and Chairman of DPRP, described the placement as a strategic milestone in the company’s evolution.

“This transaction represents a strategic step to deepen and further institutionalise the Enterprise’s shareholder base, while raising capital to complement our internal cash flows and external funding as DPRP advances its expansion agenda.
It also demonstrates our unwavering commitment to developing Africa’s refining and petrochemical capacity, reducing dependence on imported petroleum products and strengthening the continent’s energy security.”

Also speaking on the development, David Bird, Managing Director and Chief Executive Officer of Dangote Petroleum Refinery & Petrochemicals, said the overwhelming investor response validates the company’s operational performance and growth outlook.

“The exceptional demand we witnessed is a testament to our operational excellence, execution capability and the confidence investors have in DPRP’s leadership and future potential.”

With the successful completion of the placement, DPRP is well-positioned to accelerate its long-term growth strategy while strengthening Africa’s energy security through world-scale refining and petrochemical capacity. The strong investor response further reinforces confidence in the company’s vision and its ability to deliver sustainable value over the long term.

The company also acknowledged the contributions of its professional advisers and partners whose expertise and support were instrumental in delivering the successful transaction.

Nigeria’s struggling revenue profile is set for a rise as Brent crude yesterday, rose above $100 a barrel for the first time in nearly two months, hitting $100.69 over escalating attacks on commercial shipping in the Red Sea deepen concerns that the Middle East supply crisis is spreading beyond the Strait of Hormuz.

Nigeria’s 2026 federal budget is anchored on an oil price benchmark of $64.85 per barrel and a daily crude oil production target of 1.84 million barrels per day.

ALSO READ: NUPRC Gives Licencees 90-Day Deadline to Meet Conditions

The latest rise in crude oil price represents a raise of $36.42 per barrel above the projected oil price benchmark of $64.85.

As of mid-morning Thursday, front-month Brent for September delivery was trading at $100.69 a barrel, up more than seven per cent on the day after touching an intraday high of $101.01. WTI was also sharply higher, with the entire Brent forward curve moving higher as traders priced in a greater risk of prolonged supply disruptions.

The latest leg higher follows Houthi claims that the group struck two Saudi oil tankers in the Bab el-Mandeb Strait after declaring a naval blockade of Saudi exports earlier this week. Several vessels have reportedly altered course or delayed transits through the chokepoint, threatening the export route. Saudi Arabia has relied on to bypass disruptions in the Strait of Hormuz.

The move marks another escalation for a market that had spent weeks betting geopolitical risk would ease. Brent has now climbed roughly 20 per cent in about two weeks as repeated attacks on commercial shipping, renewed fighting involving Iran, and mounting export disruptions have steadily erased expectations of a quick return to normal oil flows.

The rally is no longer being driven solely by fears surrounding Hormuz. Kazakhstan has begun cutting oil production after drone attacks shut down tanker loadings at the Caspian Pipeline Consortium terminal on the Black Sea. Indian state refiners have suspended Iraqi crude loadings because of shipping risks through Hormuz. Russian fuel exports remain constrained after months of Ukrainian drone strikes on refineries.

The physical market is tightening alongside futures. Governments around the world have already drawn down hundreds of millions of barrels from strategic reserves since the Middle East conflict began, commercial inventories have fallen sharply, and China has reduced imports by drawing on stockpiles accumulated before the war. Those buffers are steadily disappearing.

Brent’s return to triple digits puts the market back in territory many analysts believed had been avoided after the U.S.-Iran memorandum of understanding briefly reopened hopes that Middle East exports would normalize. Those expectations have unraveled quickly as the conflict has expanded from Hormuz to the Red Sea, placing two of the world’s most important oil shipping routes under simultaneous threat.