Public Policy analysts, government officials and other stakeholders have in Lagos hailed the strategic foresight and industrial courage of the President and Chief Executive of Dangote Industries Limited (DIL), Aliko Dangote, describing the Dangote Petroleum Refinery as a transformative national asset deserving of collective appreciation by Nigerians.

This position was strongly articulated at the 2026 Bullion Lecture, powered by the Centre for Financial Journalism, where the Director‑General of the Raw Materials Research and Development Council (RMRDC), Prof Nnanyelugo Ike‑Muonso, declared that Nigerians owe Aliko Dangote a profound debt of gratitude for investing in the world‑class refinery.

Delivering the keynote lecture themed “From Resources to Prosperity: How Raw Materials Development, Value Addition and Innovation Can Catalyse Nigeria’s Industrial Renaissance,” Professor Ike‑Muonso said the refinery represents a decisive break from Nigeria’s long‑standing dependence on crude oil exports with minimal domestic value addition.

According to the RMRDC Chief, Nigeria had historically exported crude oil only to re‑import refined petroleum products such as Premium Motor Spirit (PMS), with little economic benefit beyond crude sales.

“That narrative has now changed. Instead of exporting crude and importing PMS alone, the Dangote Petroleum Refinery processes crude locally to produce PMS, diesel, dual purpose kerosene (DPK), and valuable by‑products for petrochemicals such as polypropylene. This represents complete domestic value addition.”

Prof Ike‑Muonso described the refinery as Nigeria’s most concrete example yet of how strategic industrial investment can unlock the full value of the country’s natural resources.

Against the backdrop of ongoing instability in the Middle East and its implications for global energy supply and price volatility, the RMRDC boss said the Dangote Petroleum Refinery has emerged as a stabilising force and an African‑led solution to global energy challenges.

“With the far‑reaching consequences of the Middle East crisis on global energy markets, the Dangote Petroleum Refinery stands today as a monumental demonstration of strategic foresight, industrial courage and African self‑reliance,” he said.

“Nigeria should, in fact, be praying for Aliko Dangote at this time.”

Prof Ike‑Muonso also presented comparative data on raw‑material value addition across countries, including the United States, India, Brazil, South Africa and Kenya, revealing that Nigeria records the lowest percentage of value addition.

He disclosed that the country loses an estimated $29 billion annually due to the export of raw materials without processing partly due to the energy deficit.

“Rather than exporting raw materials, Nigeria should be exporting processed raw materials and finished products,” he argued.

Identifying obstacles to achieving full value addition, the RMRDC Director‑General highlighted key structural challenges such as: Private infrastructure tax, resulting from companies’ reliance on self‑generated power; Logistics gaps, noting that only about 30 percent of Nigeria’s road network is paved; and Capability gaps within the industrial ecosystem.

He stressed that sustained industrialisation remains Nigeria’s most viable pathway to broad‑based economic prosperity, citing Dangote Industries’ investments as a model for the country.

Earlier in his remarks, Otunba Kelvin Dele Oye, Chairman of the Economic Research and Ethics Committee and former President of the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), also commended Dangote’s industrial contributions.

He decried what he described as an imbalance in the exploitation of Nigeria’s raw materials by foreign investors, often without meaningful value addition to the local economy.

Otunba Oye called for deliberate government policies and stricter regulatory vigilance to ensure that raw material exploitation benefits Nigerians, while enabling local investors to compete favourably with foreign players.

The event, which marked the 10th anniversary of the Bullion Lecture, also featured the unveiling and launch of a commemorative book titled “Pathways to Nigeria’s Socio‑Economic Transformation.”

The book, authored by Mr. Ray Echebiri, Chief Executive of the Centre for Financial Journalism, documents all lectures delivered since the inception of the Bullion Lecture series.

Photo Caption
From Left: GMD/CEO, Dangote Cement Plc, Arvind Pathak; Chairman, Sinoma International Engineering Co. Ltd., Yin Zhisong; Consulate General of the People’s Republic of China, Yan Yaqing; President/CE, Dangote Industries Limited, Aliko Dangote; Chairman of the Board, Sinoma International Engineering Co. Ltd., Lin Zhisong and Vice President Oil & Gas, Dangote Industries Limited, Devakumar Edwin, during the Sinoma International visit to Dangote Head Office in Lagos

The Airlines Operators of Nigeria (AON) has described the Dangote Petroleum Refinery and Petrochemicals as a critical pillar of support for Nigeria’s aviation industry, disclosing that the refinery currently supplies over 95 per cent of the Jet A1 fuel consumed nationwide.

Biztellers reports that the company also exported 1.1 billion litres of aviation fuel to Europe between March and April 20.

Speaking during a televised interview, AON spokesperson Obiora Okonkwo said the refinery’s output has played a vital role in sustaining domestic airline operations at a time of global supply disruptions arising from tensions in the Middle East and rising fuel costs.

“It is a matter of fact that over 95 per cent of aviation fuel supplied across the country comes from the Dangote refinery. To airline operators in Nigeria, Dangote is not just a refinery; it is a game changer and, indeed, a lifesaver,” Okonkwo said.

He noted that despite the refinery’s consistent supply, airlines continue to face severe operational strain due to escalating Jet A1 prices, which he attributed to sharp practices within the downstream distribution chain.

According to Okonkwo, some fuel marketers are allegedly creating artificial scarcity in spite of available supply from the refinery, leading to disproportionate price increases. He disclosed that airline operators have recorded Jet A1 price hikes of up to 300 per cent since the onset of the Middle East crisis.

“We consider this exploitation. The refinery has not indicated any shortage, yet we are witnessing artificial scarcity and unjustifiable price increases. What airlines pay does not reflect depot prices,” he said, suggesting the presence of racketeering within the market.

Echoing these concerns after a closed‑door meeting between the AON and the Federal Government, Chairman and Chief Executive Officer of Air Peace, Allen Onyema, described the situation as deeply troubling, particularly given that the Dangote refinery sells its products at comparatively lower rates.

“The truth is that marketers must be called to account. How do prices rise by as much as 300 per cent when Dangote’s supply remains the cheapest and some marketers source directly from the refinery?” Onyema asked. “So, why the astronomical increase?”

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Meanwhile, the Dangote Refinery continues to expand its footprint in the international aviation fuel market. Industry data indicate that the facility exported approximately 876,000 metric tonnes of jet fuel to Europe within the period under review—about 456,000 tonnes in March and an additional 420,000 tonnes by April 20.

These export volumes underscore the refinery’s growing capacity and improved logistics, further reinforcing Nigeria’s emerging role in the global downstream oil and gas market, even as it strengthens domestic energy security.

Photo Caption
From Left: President/CE, Dangote Industries Limited, Aliko Dangote; President of Uganda, H.E. Yoweri Museveni; President of Kenya, H.E. William Ruto, and CEO of the Africa Finance Corporation, Samaila Zubairu, at The Africa We Build Summit in Nairobi, Kenya, on Thursday.

The Nigerian Content Development and Monitoring Board (NCDMB), on Wednesday at its Conference Centre hosted the 2026 first quarter edition of its Book Reading Series.

With Dr. Dakuku Peterside, former Director-General of the Nigerian Maritime and Safety Administration (NIMASA) as guest author, the event focused on the 204-page publication of the author, ‘Leading in a Storm: Practical Leadership Strategies in Crisis Situations’, published in 2025.

The capacity audience was drawn from higher institutions, the media, Association of Nigerian Authors (ANA), and Nigerian Institute of Public Relations (NIPR), with several others participating virtually.

The Executive Secretary of the NCDMB, Felix Ogbe, represented by the General Manager, Corporate Communications Division (CCD), Dr. Obinna Ezeobi, said the book programme, which he described as “a signature event”, speaks to creativity, which is one of the core values of the Board.

He explained that the event is part of the Board’s strategy in fostering intellectual activity and sophistication among stakeholders, as well as building the abilities of Nigerians to operate productively in the oil and gas industry and linkage sectors, which is one of its core mandates.

The Executive Secretary enumerated several initiatives of the Board geared towards advancement of research and technology; notably six centres of excellence in the nation’s six geopolitical zones, each of which has a unique theme.

These are the Niger Delta University, Amassoma, with Marine and Petrochemical Technologies as theme; the Federal University of Technology, Minna (Engineering Design), and Federal University of Technology, Owerri (Local Raw Materials Substitution).

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Others are Modibbo Adama University of Technology (MAUTECH), Yola (Safety and Environment Studies); Usman Dan Fodio University (UDUS), Sokoto (Renewable Energy), and Federal University of Technology, Akure (Geology and Geophysical Studies).

Additional research centres established by the Board include Geosciences Research Centre at the University of Lagos and Marine and Offshore Training Centre at Rivers State University, Port Harcourt.

The latest is the Centres of Excellence in Gas Development at Delta State University, Abraka, being developed in partnership with Seplat Energy Plc.

According to Ogbe, the NCDMB is collaborating with Renaissance Africa Energy Company Limited (RAEC), First Exploration and Petroleum Development Company Limited, and the Nigerian Society of Engineers (NSE), to organise the first Nigerian Engineering Olympiad (NEO), which was launched on November 20, 2025 in Abuja.

The Olympiad is to encourage final-year and postgraduate students to be innovative in applying engineering principles to real-world operational challenges in and out of the oil and gas industry.

In the book conversation segment, moderated by Mr. Victor Binawari, Peterside explained the inspiration behind ‘Leading in a Storm…,’ saying, “My own lived experience informed the contents and thrusts of the work.”

He added, “Every single day, Nigerians face one crisis or another, and the experiences posit weakness of leadership.”

He recalled his time at the National Assembly, when he served as Chairman of the House of Representatives Committee on the Downstream Petroleum sector, with the unremitting crises in fuel supply.

As NIMASA Director General, he said he had to contend with recurring incidents of piracy within Nigeria’s territorial waters.

“Then the COVID-19 pandemic, which saw many world leaders fumbling, unable to determine how best to safeguard the health of citizens,” he said, adding that another inspiration was drawn from an uncomplimentary remark by a professor at America’s Kellog School of Management.

He said, “The professor remarked that ‘Africa is in a near-permanent state of crises.’ I began to investigate how leaders can perform better in crisis situations; calmness, clarity, adaptability, and resilience are critically important. What kind of choices leaders make when faced with crises would reveal the stuff they are made of.”

He outlined eight competencies of leadership, namely: “Contextual intelligence- the ability to read situations accurately and understand the deeper forces at play; Calm Confidence – which provides emotional stability; Sense-making – which enables a leader to find patterns in chaos and make meaning from confusion; Strategic Decision-making; Clear Communication; Strategic Flexibility; Coordinating Teamwork, and Facilitating Learning.

“Every great leader should rank high enough in these.”

On his style, which relies heavily on storytelling, he stated that stories are relatable, memorable and engaging, and that “stories teach you principles which you can apply.”

In closing remarks, Mr. Teleola Oyeleke, Supervisor, CCD of NCDMB, thanked Peterside for readily accepting the invitation and for the wealth of experience he shared at the event.

He also thanked all participants, while advising them to read and digest the contents of the book.

He also echoed the guest author in challenging attendees to have personal development programmes.